In the first quarter of 2026, Riot Platforms sold over 3700 BTC for a total of $289.5 million, selling each bitcoin at an average price of $76,626.
This is reported by Finway
This reinforces the global trend of sell-offs among mining companies amid rising energy costs.
The main pressure on miners continues to be the increasing prices of energy resources.
The mining company Riot Platforms reported the sale of 3778 BTC in the first quarter of 2026, further intensifying the overall wave of sell-offs among miners due to challenging market conditions. According to the operational report, the average selling price was $76,626 per unit, resulting in approximately $289.5 million for the company. At the same time, at the time of the report’s release, the price of bitcoin had dropped to $66,800.
During the quarter, Riot Platforms mined 1473 BTC, and the total volume of digital assets on the company’s balance sheet at the end of the reporting period amounted to 15,680 BTC. Additionally, Arkham analysts recorded an outflow of another 500 BTC from wallets associated with the company.
Increase in Sales Among Miners and Main Reasons
Riot Platforms is not the only company increasing its bitcoin sales. Over the past week, MARA Holdings, Genius Group, and Nakamoto Holdings collectively sold 15,501 BTC, with the largest volume of sales attributed to MARA.
Experts explain this activity by the rising costs of energy resources. The increase in electricity and fuel prices negatively impacts mining profitability, forcing companies to sell part of their assets to cover operational expenses.
“Due to rising electricity and fuel prices, mining profitability is significantly decreasing, which forces companies to sell their assets.”
In addition, the market continues to be pressured by an unstable geopolitical situation. In particular, the conflict in the Middle East has caused a noticeable increase in oil prices and heightened volatility in the cryptocurrency market.
Changes in the Mining Market: Outflow of Players and Decrease in Difficulty
Amid rising operational costs and instability, some less efficient miners have begun shutting down their equipment, leading to a decrease in the network’s hash rate and a drop in mining difficulty. This creates more favorable conditions for large and efficient companies, while the number of players in the mining industry is rapidly decreasing.
As of March 20, 2026, the difficulty of mining bitcoin has decreased by 7.76% to 133.79 T, and the average network hash rate is about 874 EH/s. Analysts note that if electricity prices decrease or the price of bitcoin recovers, some miners may return to mining, which would again intensify competition and reduce business profitability.
It is worth noting that recently, Bitfarms announced a complete withdrawal from mining due to losses of $285 million.