A researcher at VanEck, a major investment firm, is explaining why Riot, a Bitcoin mining company, recently sold a large quantity of Bitcoin.
According to Matthew Sigel, Riot Platforms sold $200 million in Bitcoin last November. This is a significant change, as the company didn’t sell any Bitcoin during the same month the previous year.
Riot sold its Bitcoin to fund the construction of its new artificial intelligence (AI) facility in Corsicana, Texas.
“$RIOT sold ~$200M of Bitcoin in Nov/Dec vs. zero y/y.
Based on my analysis, that figure represents nearly all of the capital expenditure Riot Platforms has projected for the initial 112 megawatt core and shell construction at their Corsicana facility, with an expected completion date in the first quarter of 2027.
In other words: one winter of BTC sales? funding Phase 1 of the AI data-center pivot.”
According to Sigel, many public Bitcoin mining companies, such as Riot, are selling their Bitcoin holdings to invest in Artificial Intelligence. He recently highlighted the connection between AI and Bitcoin.
“The AI trade and Bitcoin are linked.
Bitcoin miners have been selling off some of their holdings to invest in artificial intelligence. When it becomes harder to borrow money, they need to sell even more to cover increasing costs. Recently, Bitcoin’s price movements have been closely linked to the stock market, particularly the Nasdaq.
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2026-01-08 14:13