Riot Platforms Sells 3,778 BTC in Q1 2026, Generates $289.5 Million in Net Proceeds

TLDR:

• Riot Platforms sold 3,778 BTC in Q1 2026, generating approximately $289.5 million in net proceeds.
• The company’s total Bitcoin holdings dropped 18% year-over-year, falling from 19,223 BTC to 15,680 BTC.
• Deployed hash rate surged 26% year-over-year, reaching 42.5 EH/s by the end of the first quarter 2026.
• All-in power costs fell 21% to 3.0 cents per kWh, supported by $21 million in total power credits earned.

Riot Platforms reported its first quarter 2026 production and operations update on April 2, 2026. The Bitcoin mining company sold 3,778 BTC during the quarter.

Net proceeds from those sales reached approximately $289.5 million. The company’s total Bitcoin holdings stood at 15,680 BTC by quarter-end.

Hash rate capacity also grew year-over-year. Meanwhile, power costs dropped notably compared to the same period last year.

Bitcoin Sales and Holdings in Q1 2026

Riot Platforms recorded an average net price of $76,626 per Bitcoin sold during Q1 2026. This marked the company’s first disclosed Bitcoin sale compared to Q1 2025.

Total Bitcoin holdings fell 18% year-over-year, from 19,223 BTC to 15,680 BTC. Of the 15,680 BTC held at quarter-end, 5,802 were classified as restricted Bitcoin.

The company produced 1,473 BTC in Q1 2026, down 4% from 1,530 BTC in Q1 2025. Average daily production came in at 16.4 BTC, compared to 17.0 BTC in the prior-year period.

The slight drop in production coincided with broader network difficulty adjustments. Nevertheless, the company maintained a steady operational output throughout the quarter.

Several other publicly traded mining companies also moved large amounts of Bitcoin in recent months. Those firms collectively sold more than 15,000 BTC in total.

Riot Platforms’ Q1 sale added to that broader trend of miners liquidating holdings. The timing of these sales aligns with Bitcoin’s price movement above the $70,000 level.

Riot Platforms is currently recruiting for positions across multiple departments. The company is scheduled to attend several investor conferences in May 2026.

These include events in New York, Hong Kong, and Los Angeles. Each event offers an opportunity to update the investment community on operational progress.

Hash Rate Growth and Power Cost Reduction

Riot Platforms expanded its deployed hash rate to 42.5 EH/s by the end of Q1 2026. That figure represents a 26% increase from 33.7 EH/s recorded at the end of Q1 2025.

Average operating hash rate for the quarter reached 36.4 EH/s, up 23% year-over-year. Fleet efficiency also improved to 20.2 J/TH from 21.0 J/TH a year earlier.

All-in power cost dropped to 3.0 cents per kWh in Q1 2026, down from 3.8 cents in Q1 2025. That 21% reduction came alongside a sharp rise in power credits.

Total power credits reached $21.0 million, up 171% from $7.8 million in the year-ago quarter. Demand response credits from ERCOT and MISO programs contributed $7.5 million of that total.

Curtailment credits added another $13.5 million to power savings in Q1 2026. Those credits were up 134% compared to $5.8 million earned in Q1 2025.

Together, these programs helped Riot Platforms lower its overall cost structure. The company’s ability to manage energy expenses remains a core part of its operating strategy.