Bitcoin miner Riot sold 3,778 BTC during Q1 amid profitability pressures

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Bitcoin miner Riot Platforms sold 3,778 BTC in the first quarter for $289.5 million due to profitability pressures, despite producing 1,473 BTC. This aligns with a trend of other crypto miners selling Bitcoin amidst rising energy costs exacerbated by global conflicts. Experts suggest that less efficient miners are going offline, potentially leading to increased profitability for remaining operators if energy prices decrease or Bitcoin’s value rises.

BTC4.87%
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