Riot Platforms resells 500 more bitcoins, stock price drops 1.46% to $18.21

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CryptoWorld News reports that, according to Coinpaper, Riot Platforms recently sold another 500 Bitcoin, worth approximately $38 million, causing its stock price to drop 1.46% to $18.21. This transfer is part of a series of large transactions the company made to institutional broker NYDIG, reflecting its ongoing strategy to reduce Bitcoin holdings. According to blockchain tracking data, Riot has frequently transferred between 60 and 125 Bitcoin to NYDIG’s hot wallet over the past two weeks. Riot stated in its Q1 2026 operational report that it has sold 3,778 Bitcoin, generating $289.5 million in revenue, with an average sale price of $76,626. As the Bitcoin mining industry faces higher operating costs and increased competition, Riot’s reserve management strategy has attracted widespread market attention.

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