Riot Platforms to be sold 3,778 bitcoin in the first quarter of 2026, making $289.5 million and showing a change in strategy as the miner redirects investment to infrastructure and supercomputers.
The volume sold exceeded the quarter in which the company generated 1,473 BTC by almost 2.6 times, which indicates a decrease in the economy rather than the usual profit. Riot ended the quarter with 15,680 BTC, down 18% from 18,005 BTC at the end of 2025.
Sales appear to have continued over the reporting period. Blockchain research firm Arkham Intelligence announced the release of 500 BTC from a wallet linked to Riot at the end of the quarter, suggesting that the lockdown will continue.
The conflict between production and sales comes as Riot it supports its growth in intelligence mining and high-performance computing colocation. The company has begun repositioning its business model away from relying solely on bitcoin mining, seeking its investment in power and data between the footprint through long-term infrastructure contracts.
In January, Riot sold 1,080 BTC to finance the purchase of 200 acres at its Rockdale, Texas property. It also signed a ten-year contract with Advanced Micro Devices to supply 25 megawatts of power, with the potential to reach 200 MW. The deal is expected to generate $311 million in revenue in its first year.
Performance metrics confuse the issue. Riot reduced its total energy costs to 3.0 cents per kilowatt hour, a 21% decrease from the previous year, while the number of hashes sent increased by 26% to 42.5 exahashes per second. The average active hash rate increased 23% to 36.4 EH/s, reflecting continued investment in mining operations.
The company also generated $21 million in revenue in the quarter, more than double a year ago, through its participation in grid projects and energy programs.
Bitcoin HODLers like RIOT are selling
Corporate conditions remain a factor. Rising energy prices linked to international tensions have led to the border throughout the mining areawhich is causing several operators to destroy their assets. MARA Holdings, Genius Group, and Nakamoto Holdings have collectively sold more than 15,000 BTC in recent days, marking a significant shift in the distribution of funds.
Riot’s Q1 performance highlights a shift in the sector, where bitcoin reserves are deployed as a source of diversified income rather than as a long-term asset.
This trend goes beyond the corporate economy. Bhutan has continued to reduce its stock of BTC, selling a total of 3,103 BTC. A single transaction on March 30 was 375 BTC, according to Glassnode data.
The country built its infrastructure through state-run mining operations, which reached 13,000 BTC at its peak. tip in October 2024.
Despite the recent sale, the public company is still holding about 1.16 million BTC, or more than 5% of the bitcoin holdings of the fixed 21 million, according to BitcoinTreasuries.net.
