Riot Platforms Moves 1,500 Bitcoin in Five Days, Sparking Sale Speculation

Bloomingbit Newsroom

Summary

Riot Platforms has recently moved a large amount of Bitcoin, sparking speculation of a sale.
As of June 6, Riot Platforms had deposited a total of 1,500 BTC with NYDIG over the previous five days.
Miners' transfers of Bitcoin are often viewed as a preliminary step toward liquidation or a sale.

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Bitcoin miner Riot Platforms has moved a large amount of Bitcoin in recent days, fueling speculation that it may be preparing to sell.

Lookonchain said on June 6 that Riot Platforms transferred an additional 500 BTC, worth about $34.87 million, to crypto services firm NYDIG. Over the past five days, the company deposited a total of 1,500 BTC, worth about $102.3 million, with NYDIG.

When miners move Bitcoin to an external custodian or trading platform, the transfers are often viewed as a preliminary step toward liquidation or a sale.

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