Riot Platforms, a publicly traded Bitcoin mining company, sold nearly $200 million worth of Bitcoin in the last two months of 2025, ending the year with a balance of 18,005. BTC. Matthew Sigel, Head of Digital Asset Research at VanEck. BTC The proceeds were enough to start Riot’s AI build in 2026-27.
A snapshot report shared by Siegel on social media revealed that the company sold 383 units. BTC approximately $37 million and $1,818 in November 2025 BTC Sales in December were approximately $161.6 million, an increase of 8% from the previous month. total BTC Sales for the two-month period amounted to approximately $198.6 million, which Seigel believes will cover all of the capital expenditures (capex) Riot secured to build its first 112 MW data center in Corsicana. Riot expects the project to be completed in the first quarter of 2027.
Sigel makes raising AI capital look easy
VanEck Digital Assets Research Director says funding for AI construction projects is easy; teasing just one winter BTC The proceeds will be enough to fund Phase 1 of Riot’s data center. Siegel has previously stated that there is a connection between AI and Bitcoin, and claimed that Bitcoin miners are one of the largest sellers of Bitcoin. BTC To fund AI projects.
Siegel says companies like Riot need to increase sales even further. BTC To finance increased capital investment when credit conditions become tight. he, BTC-Nasdaq correlation has increased over the past few months.
Riot, on the other hand, produced 428 units BTC The average for November 2025 is 14.3 BTC per day. The mining company also produced 460 pieces. BTC The average for December 2025 is 14.8 BTC This was an 8% month-over-month increase and an 11% year-over-year decrease. Average net price per BTC Sales amounted to $96,560 in November and $88,870 in December.
Riot CEO Jason Les said earlier this year that the company made a strategic decision to sell monthly magazines. BTC Production to fund continued growth and operations around AI. He added that the move will help reduce Riot’s reliance on equity financing and limit shareholder dilution.
Riot increases deployed hashrate by 5% month over month
In line with Riot’s strategy BTC Production and sales, miners to fund AI construction increased Introduced hashrate increased by 5% month-on-month, rising slightly from 36.6 E+H/s in November to 38.5 E+H/s in December. The new hashrate is a 22% increase from 31.5 E+H/s in December 2024.
The average operating hashrate in November was 34.6 E+H/s and in December 2025 it was 34.9 E+H/s, an increase of only 1% month over month. Meanwhile, the average operating hashrate increased by 27% year-on-year from 27.4 E+H/s in December 2024.
Riot also benefited from a surge in electricity and demand response credits. Electricity credits increased from just $1 million in November to $4.9 million in December, representing a 381% month-over-month increase. Electricity credits increased 549% year over year from $800,000 in December 2024.
Demand response credits, on the other hand, were essentially flat month over month at $1.3 million (+2%). However, the year-over-year increase was slightly larger, increasing 64% from $800,000 in December 2024.
Meanwhile, Riot’s total power credits also increased 171% month over month from $2.3 million in November to $6.2 million in December, and 301% year over year from $1.5 million in December 2024. The company’s total electricity costs decreased 1% month over month to 3.9 cents per kilowatt hour (KW/h). Year-on-year fleet efficiency also showed an improvement of 20.2 J/TH.