Riot Platforms transfers 500 BTC to NYDIG, continues sales

Riot Platforms moved another 500 BTC to NYDIG Custody, continuing a sales-linked trend. In Q1 2026, Riot sold more Bitcoin than it mined and is expanding into AI data centers.

Riot Platforms has transferred another 500 BTC, valued at approximately $30.7 million, to NYDIG Custody, continuing a series of similar moves throughout 2026. On-chain data and analyst commentary indicate these transfers often precede sales, as Riot has consistently liquidated more Bitcoin than it produces. In Q1 2026, Riot sold 3,778 BTC for about $289.5 million while mining only 1,473 BTC, reducing its holdings by 18% to 15,680 BTC. The company’s ongoing strategy includes repeated 500 BTC transfers to NYDIG, totaling roughly $88 million over three months, marking a shift from its previous “never sell” approach. This activity comes amid rising mining costs, with Bitcoin trading below $57,000 and estimated production costs around $78,000 per coin. Despite these challenges, RIOT stock surged 120% in Q2. Riot is also expanding into AI data centers, which contributed $33.2 million in Q1 revenue as part of a broader operational pivot.