Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks
By Micah Zimmerman
AI summary of the source article
Riot Platforms sold 20,264 bitcoin this year for roughly $1.5 billion to fund data center construction, while Hut 8 sold 3,102 bitcoin since July to finance $250 million in share buybacks.
Why it matters
CEO Asher Genoot stated that shareholders "now own a larger share of a growing platform following share repurchases funded with Bitcoin from our balance sheet."
Key facts
- Riot Platforms sold 20,264 BTC this year for about $1.5 billion to fund data center construction and repay debt.
- Hut 8 sold 3,102 BTC since July to fund $250 million in share repurchases, retiring 3.3 million shares.
- Riot signed a 15-year, 910 MW lease for its Corsicana campus with an unnamed Frontier AI Lab, worth approximately $28 billion.
Source excerpt · Bitcoin Magazine
Bitcoin Magazine Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks Riot has sold 20,264 bitcoin this year to fund AI data centers, leaving it with 2,418 BTC, while Hut 8 sold 3,102 to buy back $250 million of stock. This post Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks first appeared on Bitcoin Magazine and is wr…