Riot Platforms甩卖200亿比特币，All-in AI算力中心

Bitcoin mining giant Riot Platforms’ operations this winter have attracted market attention: the company sold 2,201 BTC in November and December, generating nearly $200 million in revenue. This capital was not used for regular operations but was explicitly allocated to an ambitious plan—building an AI data center.

From Mining to Computing Power: Signals of Strategic Shift

Riot’s reserves at the end of the year reached 18,005 BTC, worth approximately $1.65 billion at current prices. However, compared to 19,324 BTC at the end of October, the amount has decreased by over 1,300 BTC. This is a clear signal of a strategic shift.

Looking ahead to 2024, Riot has adopted a completely opposite strategy—no longer selling BTC, but instead making large purchases, investing over $500 million to expand Bitcoin reserves. The recent sales mark a fundamental adjustment in the company’s strategy.

According to Matthew Sigel, Head of Digital Assets at VanEck, this $200 million precisely corresponds to the initial investment in Riot’s Corsicana data center project. The project has a capacity of 112MW and is expected to be completed in the first quarter of 2027. Sigel commented on this move: “A winter of Bitcoin sales is basically Riot’s first phase of financing for transitioning into AI data centers.”

Industry Shift: Mining Companies Embrace AI Collectively

Riot is not an isolated case. The entire publicly listed Bitcoin mining sector is undergoing a similar transformation:

• CleanSpark and MARA announced strategic shifts toward AI
• Bitfarms disclosed plans to completely exit Bitcoin mining and focus on artificial intelligence
• Cipher Mining and Hut 8 signed AI service contracts worth billions of dollars with Google

This shift reflects a deeper logic: mining companies with large-scale power resources realize they hold the most scarce production factors of the AI era—energy and computing power. Instead of continuing to profit from mining, operating AI infrastructure directly has become the new business focus.

Market Response and Data

RIOT stock rose 1.3% after the announcement, with a gain of over 23% in the past six months, currently trading at $14.98. Bitcoin’s price also performed strongly, rising nearly 6% over the past week, with a current trading price of approximately $91,170.

These data indicate that the market is supportive of the strategic shift by mining companies. Investors seem to believe that the energy infrastructure and operational experience these companies possess will have higher commercial value in the AI era.