Bitcoin miner Riot Platforms sold 3,778 Bitcoin in the first quarter, reflecting broader industry pressures. The sales, at an average price of $76,626, generated $289.5 million for the company.
- Riot Platforms sold 3,778 Bitcoin in Q1 at an average price of $76,626, generating $289.5 million.
- The miner produced 1,473 Bitcoin for the quarter and had 15,680 coins on its books at the end of Q1.
- MARA Holdings, Genius Group, and Nakamoto Holdings sold a combined 15,501 Bitcoin in the last week.
- Rising energy costs, driven by the Middle East conflict, are pressuring miners to sell Bitcoin.
- Bitcoin mining difficulty and hash rate have both declined, with difficulty dropping to 133 trillion and hash rate to 990 exahash as of Friday.
- Kadan Stadelmann predicts further consolidation in the mining sector as less efficient miners go offline.
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