Riot Platforms sells 10,599 Bitcoin in third quarter to fund data centres
The miner's Bitcoin holdings dropped nearly 79 percent to 2,418 BTC at the end of September as sales reached $1.5 billion in the first nine months of the year.
Key takeaways
- 1Riot Platforms sold 10,599 BTC in Q3, cutting holdings from 11,380 to 2,418 BTC.
- 2The firm generated $1.5 billion from selling 20,264 BTC over the first nine months of the year.
- 3Q3 net income fell to $4.03 million from $104 million a year earlier.
- 4Riot signed a 15-year AI data centre lease valued at an initial $28 billion.
Riot Platforms sold 10,599 Bitcoin during the third quarter of 2026 to fund its expansion into data centre infrastructure, reducing its cryptocurrency reserves by nearly 79 percent, Wu Blockchain reported.
The liquidations left the second-largest publicly listed Bitcoin mining firm with 2,418 Bitcoin at the end of September, down from 11,380 Bitcoin at the end of June. Across the first nine months of the year, Riot sold a total of 20,264 Bitcoin, generating approximately $1.5 billion in gross proceeds.
Financial results for the quarter showed total revenue of $181 million, up 1 percent from the same period last year. Net income dropped to $4.03 million, compared with $104 million in the third quarter of the previous year. Revenue specifically derived from Bitcoin mining fell roughly 28 percent year-over-year to $116 million.
Alongside its quarterly results, Riot announced a 15-year data centre lease agreement with an unnamed artificial intelligence laboratory. The agreement covers 910 megawatts of computing capacity and carries an initial contract value of approximately $28 billion.
The deal increases Riot's total contracted data centre capacity to 1,151 megawatts, representing long-term contract revenue of about $38 billion as miners look to diversify revenue streams into high-performance computing.
Data from YourKhabri showed Bitcoin trading at $78,139 on 4 November, up 1.1 percent in 24 hours. The sales contrast with corporate accumulation elsewhere in the market, where Coinbase reported increasing its corporate Bitcoin treasury to 18,000 BTC on 2 November.
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