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Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks

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Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks

Bitcoin Magazine

Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks 

Two of the largest public bitcoin miners reported third-quarter results on Wednesday, and both used the occasion to confirm they have been selling the asset they were built to accumulate. 

Riot Platforms has sold 20,264 BTC this year for about $1.5 billion, and Hut 8 has sold 3,102 BTC since July to fund $250 million in share repurchases.

The sales serve different ends. Riot is paying for data center construction; Hut 8 is buying back its own stock. Riot ended September with 2,418 BTC, worth about $202 million at the quarter-end price of $83,554. It held 18,005 at the start of the year. 

Hut 8 reported about 16,787 BTC across the parent and its majority-owned American Bitcoin on Sept. 30, worth $1.4 billion, of which $697.4 million was attributable to Hut 8 itself, before October sales reduced the parent’s share.

Riot’s selling has been steady all year. It sold 3,778 bitcoin in the first quarter, about 2.5 times its production, then 4,300 in the second and a further 12,186 in the third. The proceeds funded data center work and the full repayment of a $200 million Coinbase credit facility, which released all pledged coins. The company raised no equity in 2026.

The reason arrived with the results. 8 billion in average annual rent.



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