web3: Riot Sells 4,300 Bitcoins to Advance AI Data Center Construction

CoinWorld reports:

Bitcoin mining company Riot is reallocating more resources towards AI infrastructure. As mining revenues decline and electricity costs rise, the company has sold 4,300 bitcoins to fund the construction of data centers.

Mining Revenue Under Pressure

Reports indicate that Riot's mining revenue in the second quarter fell by 19.3% year-on-year, primarily due to rising electricity prices and a drop in the overall network hashprice to a low level. During the same period, the price of Bitcoin fluctuated roughly between $63,500 and $63,700, while the average mining cost per Bitcoin, according to industry models, has risen to between $76,000 and $78,000.

Against this backdrop, miners' profit margins continue to narrow. The overall network hashprice has dropped to a low of $30 to $35 per PH/s per day, with only operators who have extremely low electricity costs and rapidly updated equipment able to maintain decent profits.

Riot Sells Bitcoins for Funding

Although Riot's operational data is better than some peers, it is still under similar pressures. The company disclosed that its direct mining cost per Bitcoin has risen to $49,912, due to factors including rising energy prices and increased costs from capacity expansion in Kentucky.

Under pressure in its mining business, the company has chosen to partially liquidate its holdings. Reports mention that while Riot's mining revenue was $113.7 million, it sold some of its previously accumulated bitcoins.

• Amount Sold: 4,300 BTC
• Cash Reserves: $548.9 million
• Bitcoin Reserves: 11,380 BTC

Shifting Towards More Stable Computing Power Business

Riot currently maintains strong liquidity. The company has approximately $1.2 billion in liquid assets, including cash and Bitcoin reserves. This provides a financial buffer for continuing to advance new business initiatives.

The company is gradually shifting its focus towards more stable data centers and computing power leasing. Reports indicate that Riot has delivered its first batch of capacity to AMD, while its long-term project involves a 20-year lease contract for an AI laboratory facility, expected to generate $9.1 billion in revenue.

Riot's adjustments are not unique. Since 2026, several mining companies have begun reallocating mining sites, power, and server resources towards AI-related infrastructure. MARA Holdings, Core Scientific, and Bitdeer have also partially or fully sold their cryptocurrency asset reserves to build AI computing facilities.