Riot Abandons HODL Strategy—Liquidates More Bitcoin Than It Mined in April

Mining giant Riot just flipped the script—selling more BTC than it dug up last month. So much for ’number go up’ theology.

When even the miners start taking profits, you know the market’s either topping out... or Wall Street’s spreadsheet jockeys finally discovered the ’sell’ button.

Riot and Rhodium

April also marked a structural shift for Riot as it finalized the acquisition of Rhodium’s assets at its Rockdale facility, ending its final hosting agreement and fully transitioning to a self-mining business model.

Despite the BTC sale, Riot’s bitcoin holdings remained stable at over 19,200 BTC, indicating continued accumulation over time. The company earned $2 million in power-related credits and maintained low power costs at 3.7 cents per kWh.

Riot said it will continue evaluating funding strategies based on market conditions, aiming to balance sustainable growth with its long-term Bitcoin holdings strategy.