Riot Platforms sold 1,818 Bitcoin (BTC) in December for $161.6 million.
The liquidation marked the miner's largest single-month Bitcoin sale and reduced holdings to 18,005 BTC from 19,368.
The sale occurred as Bitcoin mining hashprice hovered near cycle lows, pressuring even major miners toward breakeven operations.
What Happened
Riot realized an average sale price of $88,870 per Bitcoin, down 8% from November's $96,560.
Total Bitcoin sales proceeds jumped 337% month-over-month from $37 million.
The company produced 460 Bitcoin in December, up 8% from November but down 11% year-over-year from 516 BTC.
December represented only Riot's third net reduction in treasury holdings during 2025.
VanEck analyst Matthew Sigel noted the $198.6 million raised across November and December covers capital expenditure for Riot's 112-megawatt AI data center at Corsicana, targeting first-quarter 2027 completion.
Riot simultaneously reset its at-the-market equity offering program to $500 million capacity after exhausting most of a previous program.
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Why It Matters
Bitcoin mining hashprice compression has left publicly traded miners operating near breakeven or at cash losses.
TheMinerMag estimates placed Riot's total hashcost at approximately $38.5 per petahash per second in Q3, roughly matching current hashprice levels.
The economics force miners to liquidate Bitcoin holdings or tap equity markets rather than funding operations through mining revenue alone.
Riot's strategic pivot toward AI data center development requires capital deployment beyond what current mining margins support.
Other major miners employed similar treasury management strategies, with CleanSpark selling 577 Bitcoin in December for $51.5 million.
Riot announced this would be its final monthly production update, shifting to quarterly reporting focused on overall business performance and data center strategy.
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