Second-Largest Bitcoin Miner Riot Sells 10,599 BTC in Q3, Holdings Drop Nearly 79% from End of June Riot Platforms, the second-largest publicly listed Bitcoin mining company…
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Second-Largest Bitcoin Miner Riot Sells 10,599 BTC in Q3, Holdings Drop Nearly 79% from End of June Riot Platforms, the second-largest publicly listed Bitcoin mining company, sold 10,599 Bitcoin in t…
Second-Largest Bitcoin Miner Riot Sells 10,599 BTC in Q3, Holdings Drop Nearly 79% from End of June Riot Platforms, the second-largest publicly listed Bitcoin mining company, sold 10,599 Bitcoin in the third quarter, reducing its holdings from 11,380 at the end of June to 2,418 at the end of September, a decline of nearly 79%. In the first nine months of the year, Riot sold a total of 20,264 BTC for approximately $1.5 billion, primarily to fund data center construction. The company reported third-quarter revenue of $181 million, up 1% year-over-year, with net income of $4.03 million, compared with $104 million in the same period last year. Bitcoin mining revenue was $116 million, down about 28% year-over-year. Riot also signed a 15-year data center lease agreement with an unnamed leading AI lab for 910 MW of IT capacity, with an initial contract value of approximately $28 billion. The company has now contracted a total of 1,151 MW of data center capacity, with long-term contract revenue of about $38 billion.
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