Riot Platforms Inc. (RIOT) Sells 1,818 BTC After 8% Production Increase

Riot Platforms Inc. (NASDAQ:RIOT) is one of the best cryptocurrency and blockchain stocks to buy now. On January 6, the company announced an 8% month-over-month increase in Bitcoin production in December. However, it was 11% lower than the Bitcoin mined the same month in 2024.

The month-over-month increase coincided with a 5% increase in the company’s hash rate, which reached 38.5 EH/s. It was also 22% higher than the previous year. It also reported $6.2 million in total power credits for December.

The company also took advantage of the high Bitcoin prices to sell 1,818 Bitcoin during the month, generating $161.6 million in net proceeds. It represented a significant increase compared to 38 Bitcoins sold in November. Following the sale, Riot platforms exited the year with 18,005 Bitcoin in reserves, a 2% increase from the end-of-2024 level.

Meanwhile, Riot Platforms has entered into a sales agreement to establish an at-the-market offering program. It plans to sell up to $500 million of its common stock at prevailing market prices.

Riot Platforms, Inc. (formerly Riot Blockchain) is a leading, vertically integrated Bitcoin mining and digital infrastructure company focused on developing large-scale data centers for high-density computing and Bitcoin mining, and on providing custom electrical engineering for complex projects, aiming to power the digital economy.

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Disclosure: None. This article is originally published at Insider Monkey.