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Riot Platforms sells 10,599 BTC in Q3 as Hut 8 raises $250m from Bitcoin sales
Riot Platforms sold 10,599 BTC for $752m in the third quarter to fund data centre expansion, while Hut 8 sold Bitcoin to finance share buybacks, the two miners' earnings reports show.
Why it matters: The filings show two of the largest listed miners turning Bitcoin reserves into data centre capacity and shareholder returns, a shift that changes how much mined supply reaches the market.
Key points
- Riot sold 10,599 BTC for about $752m in the three months to 30 Sept, leaving it with 2,418 BTC.
- Hut 8 sold 954 BTC for $74.8m in Q3 and another 2,148 BTC for $175m in October.
Riot Platforms and Hut 8 both disclosed large Bitcoin sales in their third-quarter earnings reports on Wednesday, according to Bitcoin.com News. Riot Platforms sold 10,599 BTC for about $752m in the quarter, more than half of the 20,264 BTC it has sold in 2026 for close to $1.5bn, as it moves capital into AI and data centre infrastructure.
Riot's quarterly sales rose from 5,887 BTC in the second quarter and 3,778 BTC in the first.
Hut 8 sold 954 BTC for $74.8m in the third quarter to fund share repurchases, then another 2,148 BTC for $175m in October, about $250m in total. It held 16,787 BTC worth roughly $1.4bn at the end of September, including holdings tied to its American Bitcoin subsidiary.
Riot posted revenue of $181m and net income of about $4m, and announced a 15-year lease for 910 megawatts at its Corsicana, Texas, site valued at about $28bn. Hut 8 reported revenue of $71.1m and net income of $131m, helped by a noncash gain on its digital assets.
Live updates on NewsFeeds:MiningDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.