Riot Platforms Sold 10,599 Bitcoin in Q3 as Holdings Fell Nearly 79%

Riot Platforms sold 10,599 Bitcoin (BTC) in Q3 as its holdings fell nearly 79%, leaving the second-largest publicly listed miner with 2,418 BTC at quarter-end.

The company held 11,380 BTC at the end of June and 2,418 BTC at the end of September. Its sales during the first nine months of the year totaled 20,264 BTC and generated approximately $1.5 billion, with proceeds primarily directed toward data-center construction.

The Q3 sale figure records Bitcoin sold during the quarter, while 2,418 BTC is Riot's end-September balance. Those numbers capture separate measures: sales over three months and the company's remaining holdings at quarter-end.

Riot recorded $181 million in third-quarter revenue, up 1% from the same period a year earlier. Net income was $4.03 million, compared with $104 million in the year-earlier quarter. Bitcoin mining generated $116 million of revenue.

The results pair a modest revenue gain with a sharp year-over-year decline in net income.

John Kim

John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to [email protected].