Riot Platforms (NASDAQ: RIOT) sold 1,818 BTC in December for $161.6 million, reducing its bitcoin treasury to 18,005 BTC from 19,368 BTC at the end of November, according to the company’s latest monthly production update.
The Colorado-based company said it realized an average sale price of $88,870 per bitcoin, down 8% from $96,560 in November, though total proceeds from bitcoin sales rose 337% month-over-month from $37 million in the prior period.
Notably, the December liquidation marked Riot’s largest single-month bitcoin sale to date and only its third net monthly reduction in treasury holdings during 2025, according to an analysis of its disclosures.
Per the update, the company’s bitcoin production for the month totaled 460 BTC, up 8% from 428 BTC in November, but down 11% from 516 BTC in December 2024.
A pivot amid industry-wide pressure
The liquidation aligns with a period of severe compression in mining profitability. The hashprice, a measure of expected daily dollar revenue per terahash per second of mining power, traded near cycle lows for much of the last quarter, according to The Block’s data dashboard.
Operationally, Riot continued to expand capacity. The company noted its deployed hashrate averaged 38.5 exahashes per second in December, up 5% from 36.6 EH/s in November and 22% from 31.5 EH/s a year earlier. Average operating hashrate rose to 34.9 EH/s, a 1% increase month over month and 27% higher than December 2024, according to the production update.
Riot also reported $6.2 million in total power credits for the month, up 171% from $2.3 million in November. The credits included demand response and power curtailment programs across its operating regions, and partially offset energy costs during periods of elevated grid stress.
The bitcoin sales coincided with changes to Riot’s capital strategy. Earlier this month, the company reset its at-the-market equity offering, replacing a prior facility with approximately $150 million of remaining capacity with a new program allowing for up to $500 million in potential share sales, according to the company.
Riot’s December update will be its final monthly disclosure. The company stated it will shift to providing quarterly operational and financial updates, aligning with its broader corporate reporting strategy.
Meanwhile, other major miners employed similar treasury management strategies in December. CleanSpark announced Tuesday that it sold 577 BTC last month, generating $51.5 million in proceeds at an average price of $89,210 per bitcoin. The Nevada-based miner said it produced 622 BTC during the period and held 13,099 BTC in its treasury as of Dec. 31.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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