- Apparently, the conversion of mining farms into data centers is going well, as in Riot Platforms continues to sell Bitcoin.
- In the first three months of 2026, the total sales figure was 3,778 BTC worth $289,5 million
- In addition, miners anticipate rising electricity prices and are exchanging cryptocurrency for fiat.
In the first quarter of this year Bitcoin-miner Riot Platforms sold 3,778 BTC for $289,5 million, or an average price of $76,626 per coin.
In the first quarter of 2026, Riot mined 1,473 Bitcoin, slightly less than the 1,530 coins mined during the same period last year. At the end of March, the company held 15,680 BTC, down from 19,223 BTC the year before. Additionally, the miner holds 5,802 restricted coins that cannot be sold immediately.
Riot Platforms has joined the list of companies selling cryptocurrency since the beginning of this year. Over the past week, MARA Holdings, Genius Group, and Nakamoto Holdings reported selling a total of 15,501 BTC, with MARA accounting for the majority of the sale.
Miners are selling bitcoins due to rising electricity costs caused by the ongoing surge in oil prices, which is one of the main expenses in bitcoin mining. As electricity costs rise, miners are forced to sell their bitcoins to cover operating expenses, says Kadan Stadelmann, a blockchain developer, investor, and co-founder of Compance.
He said less efficient miners were leaving the market due to rising costs, and predicted further capitulation, leaving the vacated niche to be filled by larger operators.
April 3 Bitcoin price showed fluctuations around the $67,000 mark, making it impossible to determine the vector of future movement.
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