Riot Platforms to Sell 4,300 Bitcoin to Fund AI Data Center Expansion

Riot Platforms is preparing to sell 4,300 Bitcoin (BTC) to help finance the expansion of its AI data center infrastructure, according to its latest SEC filing. The move highlights a growing shift among major Bitcoin miners from accumulating cryptocurrency toward building more predictable, long-term computing businesses.

The strategy comes as Bitcoin mining profitability remains under significant pressure. Riot’s mining revenue fell 19.3% in the second quarter as electricity expenses increased and Bitcoin hashprice dropped to historic lows. Bitcoin is currently trading around $63,500–$63,700, while industry estimates put the average market-wide cost of mining one BTC at roughly $76,000–$78,000.

Hashprice has also declined to approximately $30–$35 per PH/s per day, leaving many miners operating at a loss. Companies with access to low-cost electricity and newer, more efficient mining equipment are in a stronger position to remain profitable.

Riot Platforms continues to perform better than the industry average, but it has not escaped rising costs. The company’s direct cost to mine one Bitcoin climbed to $49,912, driven partly by higher energy prices and its capacity expansion in Kentucky. Meanwhile, Riot generated $113.7 million in mining revenue.

Despite the challenging mining environment, Riot maintains substantial liquidity. The company reported approximately $1.2 billion in liquid assets, including $548.9 million in cash and 11,380 BTC.

Selling part of its Bitcoin holdings will provide additional capital as Riot accelerates its transition toward AI infrastructure. The company has already delivered its first capacity for AMD, while a major long-term initiative involves a 20-year agreement to lease AI laboratory facilities that is expected to generate $9.1 billion in revenue.

Riot’s AI pivot reflects a broader Bitcoin mining industry trend in 2026. Major miners including MARA Holdings, Core Scientific and Bitdeer have also reduced or liquidated cryptocurrency reserves to finance AI and high-performance computing infrastructure, signaling a fundamental transformation in the sector.