Bitcoin Miner Riot Platforms Sells $750M in BTC as Hut 8 Dumps $250M

Riot Platforms sold 10,599 BTC for roughly $750 million in the third quarter, while Hut 8 offloaded about $250 million worth of bitcoin to fund share buybacks, both disclosed in Wednesday earnings filings. The liquidations mark a notable shift by major miners from hoarding to monetizing treasury holdings, with Riot directing proceeds toward data center expansion. The sales add supply-side pressure to bitcoin markets at a time when miners' economics remain sensitive to network difficulty and post-halving revenue compression. Investors will watch whether other large miners follow suit in upcoming earnings and whether Riot's infrastructure buildout translates into improved hash rate and cost efficiency next quarter.