Riot Platforms sold 475 bitcoins last month to cope with industry pressure

According to Decrypt, listed mining company Riot Platforms sold 475 bitcoins in April, cashing out approximately $38.8 million to support operations and avoid dilution of equity. Among them, 463 were newly mined in the current month, with an average selling price of 81731 US dollars. Affected by the halving of Bitcoin in April 2024, Riot's monthly production decreased by 13% year-on-year. Despite BTC's 47% increase this year, the current price is still below its historical high at the beginning of the year. In addition, the difficulty of mining across the entire network has increased by 35% year-on-year, further compressing miners' profits. Riot's stock price fell 5.84% on Monday.