Riot Platforms’ Bitcoin Sales Tied to AI Infrastructure Spending, Says VanEck Analyst
Riot Platforms (RIOT), a publicly traded bitcoin mining company known for developing and operating large-scale data centers, ramped up bitcoin sales at the end of 2025. The company sold 1,818 BTC ($161.6 million) and 383 BTC ($37 million) in November, trimming its bitcoin holdings to 18,005 BTC by year-end.
While miners sell bitcoin for a variety of reasons, Matthew Sigel, head of digital assets research at VanEck, suggested the moves may be linked to Riot’s push into AI infrastructure. According to Sigel, the volume sold “roughly matches the entire capex Riot has guided for the first 112 MW core/shell build at Corsicana, scheduled for completion in Q1 2027.” In other words, a single season of BTC sales could fund Phase 1 of Riot’s AI-focused data center expansion.
Sigel added that bitcoin miners and the AI trade are becoming increasingly interconnected. Miners have been some of the largest marginal sellers of BTC, particularly when financing AI-related capital expenditures amid tighter credit conditions. This dynamic may have contributed to bitcoin’s decline throughout 2025.
On Tuesday, Riot’s shares fell 2%, alongside a 1.2% drop in bitcoin to $92,500.
