Blockchain analytics firm Arkham flagged a 500 Bitcoin outflow from a wallet it attributes to Riot Platforms this week, a potential sale the company has not commented on. The transaction occurred shortly after the miner posted record 2025 revenue of approximately $647 million. The move follows over 15,000 Bitcoin sold collectively by large public miners in recent months, though strategies diverge as other firms continue to add to their treasuries.
Blockchain intelligence firm Arkham identified a 500 Bitcoin outflow from a wallet it attributes to Riot Platforms on Wednesday. The company had not publicly commented on the potential sale at the time of reporting.
This follows Riot posting record 2025 revenue of around $647 million, driven by increased Bitcoin mining revenue. The possible sale aligns with recent Bitcoin disposals by other large listed miners.
MARA Holdings disclosed last week that it sold about $1.1 billion worth of Bitcoin in March to repurchase convertible debt. Public miners have collectively sold over 15,000 Bitcoin recently amid volatile market conditions.
The pattern is not universal, as Bitcoin treasury companies like Metaplanet continue aggressive accumulation. Nakamoto sold about 284 Bitcoin for roughly $20 million in March, according to a recent filing.
Onchain tracker Lookonchain, citing Arkham data, reported wallets it links to Empery Digital transferred its remaining 1,795 Bitcoin to Gemini. The Bitcoin was worth approximately $122.5 million at the time.
Listing pressures are growing for some mining-linked stocks. Cango announced it received a notice from the New York Stock Exchange after its shares traded below $1 for 30 consecutive days. The same day, the company also announced a new $65 million capital raise and $10 million convertible note financing.
Juliet Ye, head of investor relations at Cango, stated the company would maintain its strategic roadmap. She told Cointelegraph, “The adjustment of our treasury strategy,” alongside financing, were measures to address listing requirements and market conditions.
In January, crypto mining hardware maker Canaan Inc. disclosed a similar minimum-bid deficiency notice from Nasdaq. Despite share price pressure, the firm increased its Bitcoin reserves in Q1 2026 and expanded its U.S. operations.
