Riot Platforms, one of the largest publicly traded $BTC mining companies, has sold 4,300 $BTC during the second quarter of 2026. The likely reason behind this step is to fund operations and expand its data center business. As of June 30, 2026, Riot held 11,380 $BTC, including 5,821 BTC pledged as collateral. Based on Bitcoin’s closing price of $58,527 on that date, the company’s Bitcoin holdings were worth approximately $666 million.

Riot continues to sell a portion of its monthly Bitcoin production to support its business operations and fund the equity component of its data center capital expenditures. The strategy represents a shift in how the company utilizes its Bitcoin treasury.

Riot Mines 1,587 BTC in Q2

During the second quarter of 2026, Riot mined 1,587 BTC at an average production cost of $49,912 per Bitcoin, excluding depreciation. However, the company’s Bitcoin mining revenue declined 19.3% year-over-year to $113.7 million. The decline was primarily linked to lower average Bitcoin prices and a higher global Bitcoin network hash rate. These factors were partly offset by growth in Riot’s operating hash rate.

Despite the decline in mining revenue, Riot’s total quarterly revenue increased 14% year-over-year to $174.2 million. The figure included $23.2 million from its expanding data center business. This highlights the company’s growing focus beyond Bitcoin mining.

Bitcoin Sales Support Data Center Expansion

Riot ended the quarter with more than $1.2 billion in liquid assets. Including its Bitcoin holdings and $548.9 million in cash. Out of the cash balance, $77.5 million was restricted.

The Bitcoin sales form part of Riot’s broader strategy to finance the expansion of its large-scale artificial intelligence (AI) and high-performance computing (HPC) data centers. The company has increasingly sought to use its existing infrastructure and power capacity for data center operations. This is in line with the rising demand for AI computing as it continues to grow.

Following the second quarter, Riot announced a major 20-year, 191-megawatt data center lease. The agreement is expected to generate approximately $9.1 billion in total contract revenue over its initial term.