Overview
- Riot, which disclosed Thursday it sold 3,778 BTC in Q1 for about $289.5 million, ended the quarter with roughly 15,680 coins.
- Blockchain trackers also flagged a separate 500 BTC transfer this week from a Riot-linked wallet that analysts said likely pointed to more selling.
- Peers stepped up liquidations in March, with Marathon selling about 15,133 BTC to repurchase convertible notes as firms like Genius Group and Nakamoto Holdings cut holdings to raise cash.
- Market data from CryptoQuant showed net bitcoin demand turning negative by about 63,000 coins in late March, reflecting large holders shifting from buying to selling.
- Riot reported stronger operations with deployed hash rate at about 42.5 EH/s, all-in power costs near 3.0 cents per kWh, and $21 million in power credits as it builds AI capacity in Texas.