Riot Platforms, 2nd largest Bitcoin mining company, has sold 10,599 $BTC during the third quarter of 2026. It has reduced its holdings by nearly 79%. As per the latest data, Riot now holds 2,418 $BTC. In June 2026, Riot Platforms had 11,380 BTC.
Riot Platforms is reportedly redirecting capital towards data center development and artificial intelligence infrastructure. The sales form part of its strategy to expand high-performance computing (HPC) and AI data center operations beyond its core Bitcoin mining business.
During the first nine months of 2026, Riot has sold 20,264 BTC. It has generated approximately $1.5 billion from BTC sales. The company has been using the funds to support construction and development projects.
Riot Platforms Reports $181.4 Million in Q3 Revenue
Riot has recorded $181.4 million in revenue during the third quarter of 2026. However, its net income declined sharply to $4.03 million from $104 million a year earlier. Bitcoin mining revenue reached $116 million, down approximately 28% year-over-year. The decline came despite a 16% increase in Bitcoin production. Riot attributed the lower mining revenue primarily to a decrease in the average Bitcoin price.
The company’s cost to mine one Bitcoin fell to $39,265. This reflects improvements in its mining economics. Meanwhile, Riot’s data center business generated $18.4 million in revenue. The results illustrate Riot’s efforts to diversify its revenue streams.
Riot Holds $950 Million in Cash and Bitcoin
At the end of September, Riot reported approximately $950.2 million in combined cash and Bitcoin holdings. This includes $748.2 million in cash. Holds 2,418 BTC valued at approximately $202 million.
The company also fully repaid and terminated its $200 million Coinbase credit facility. All Bitcoin previously pledged as collateral have been released.
Riot Platforms is using Bitcoin sales and its cash reserves to fund data center expansion. The company is gradually shifting from Bitcoin mining toward AI and data center operations. However, it is continuing its mining business with full force.