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Riot Platforms made significant moves in the final months of 2024, offloading substantial amounts of Bitcoin to reshape its portfolio. In November, the company sold 383 BTC, followed by a much larger December sale of 1,818 BTC—collectively netting roughly $200 million. These transactions brought its total holdings down to 18,005 BTC.
What's driving these sales? Analysts are connecting the dots to Riot's strategic pivot. Matthew Sigel from VanEck pointed out that the BTC sales figures align closely with the company's capital expenditure guidance, suggesting the proceeds are earmarked for a shift toward AI data center operations. Rather than a distressed selloff, this appears to be a deliberate repositioning of resources.
The move signals how traditional mining companies are adapting their playbook—leveraging crypto holdings to fund infrastructure expansion in the AI boom. Whether this strategy pays off will be worth watching as 2025 unfolds.