Riot Platforms Announces April 2025 Production: Company Sold BTC for the First Time in 15 Months
The post Riot Platforms Announces April 2025 Production: Company Sold BTC for the First Time in 15 Months appeared first on Coinpedia Fintech News
- Riot Platforms announced that it mined 463 Bitcoins in April compared to 533 coins in March.
- The company sold a portion of its BTC trove to avoid equity fundraising to strengthen its mining operations.
Riot Platforms Inc. (NASDAQ: RIOT), a United States-based Bitcoin (BTC) mining company, announced its unaudited production and operations update for April 2025. For the first time since January 2024, Riot Platforms made its first Bitcoin sale of about 475 BTCs in April, thus deviating from its maximalist approach.
The company announced that it managed to raise $38.8 million from its Bitcoin sales in April 2025, thus funding its operations without any equity fundraising. Furthermore, Riot announced that it closed the acquisition of all of the tangible assets of Rhodium at the Rockdale Facility, including 125 MW of power capacity, and mutually ended all outstanding litigation.
“During the month of April, we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources considering a multitude of factors and prioritizing a strong balance sheet. These sales reduce the need for equity fundraising, limiting the amount of dilution in our stock,” Jason Les, CEO of Riot, noted.
Expected Impact of Riot Sales on Bitcoin Market
The Bitcoin network has experienced exponential growth in the past few years, bolstered by the rising adoption by institutional investors and growing global money supply. The Bitcoin sale by Riot is a gesture of Bitcoin maturity and will play a crucial role in strengthening the BTC network in the long haul.Moreover, Riot Platforms is committed to strengthening its BTC mining facilities in the United States under the Donald Trump administration.
