Bitcoin mining company Riot Platforms sells 2,201 BTC, raises $200 million for AI data center transformation

Source: PortaldoBitcoin Original Title: Mineradora despeja mais de R$ 1 bilhão em Bitcoin no mercado Original Link: Bitcoin mining company Riot Platforms recently announced its December production and operations report, showing that the publicly traded company sold a total of 2,201 BTC during November and December, raising nearly $200 million (about 1 billion RMB) in net revenue.

This Colorado-based company, known for its Bitcoin reserves, ended the year with 18,005 BTC, valued at approximately $1.65 billion (about 8.8 billion RMB) at current prices, enough to rank in the top ten publicly traded companies by Bitcoin holdings. This number represents a decrease of over 1,300 BTC from October’s 19,324 BTC, and an increase of only 293 BTC compared to the end of last year.

Clear Contrast in Strategic Shift

These year-end sales stand in stark contrast to 2024 — last year, Riot Platforms did not sell any Bitcoin and instead increased its BTC reserves by over $500 million. Matthew Sigel, head of digital assets at VanEck, commented that this sale reflects the company’s commitment to advancing its involvement in artificial intelligence.

Sigel pointed out that the $200 million in sales roughly equals the total capital expenditure for Riot’s first 112MW core/shell building in Corsicana, expected to be completed in the first quarter of 2027. In other words, a winter’s worth of Bitcoin sales could finance the first phase of its AI data center transformation.

Operational Focus Shifting to AI

According to the third-quarter financial report, the company’s long-term strategy is to maximize its energy output. Riot employs an “electricity-first” approach, viewing Bitcoin mining as a “tool to monetize large-scale energy portfolios before developing data centers,” with the ultimate goal of fully converting its power capacity for data center operations.

Riot is not alone in this transition. Other publicly traded Bitcoin mining companies are also expanding their operations to include data center construction to promote AI or cloud technology applications. In recent months, companies like CleanSpark and MARA have signaled strategic adjustments. Bitfarms has even announced a complete exit from Bitcoin mining to focus on AI. Meanwhile, Cipher Mining and Hut 8 have reached billion-dollar AI partnership agreements with tech giant Google.

Market Performance

RIOT stock closed up 1.3%, with a cumulative increase of over 23% in the past six months, trading at $14.98. Bitcoin itself has risen nearly 6% over the past week, with the latest trading price at $92,773.