Riot Platforms dumped 3,778 BTC in Q1 as miners keep trimming balances
Bitcoin miner Riot Platforms disclosed in its Thursday operational update that it sold 3,778 BTC during the first quarter, generating roughly $289.5 million in proceeds at an average sale price of $76,626. By comparison, Bitcoin was trading near $66,867 at the time of writing on April 3, meaning Riot’s sales occurred well above current levels.
Key numbers from Riot’s update
- BTC sold in Q1: 3,778
- Average sale price: $76,626
- Proceeds: ≈ $289.5 million
- BTC mined in Q1: 1,473
- BTC holdings at end of Q1: 15,680
- Arkham Intelligence also flagged a 500 BTC outflow from a wallet linked to Riot earlier in the week.
Riot’s move is part of a broader trend of Bitcoin liquidation among crypto companies. Over the past week, firms including MARA Holdings, Genius Group and Nakamoto Holdings disclosed combined sales totaling 15,501 BTC. On-chain data provider CryptoQuant reported that apparent demand for Bitcoin slid into negative territory — down about 63,000 BTC by late March — signalling distribution outpaced accumulation in recent weeks.
Institutional buying still visible, but concentrated
Institutional buyers haven’t disappeared: one buyer alone purchased 44,377 BTC in March, representing roughly 94% of public-company acquisitions that month. In Japan, Metaplanet added 5,075 BTC (about $398 million) in Q1, lifting its total holdings to 40,177 BTC.
Market backdrop
Heightened geopolitical tensions in the Middle East have dampened risk appetite across traditional and digital markets, keeping selling pressure on Bitcoin. As of April 3, BTC remained more than 46% below its all-time high.
Bottom line: miners like Riot are monetizing holdings amid a tougher market, while institutional demand persists but is uneven — a dynamic that continues to keep Bitcoin prices under pressure.
Read more AI-generated news on: undefined/news
