Riot Platforms has released its December 2025 operational report, offering a detailed look into how the Bitcoin miner closed out the year amid shifting market dynamics and rising operational demands. While the company recorded a solid month of Bitcoin production, aggressive selling activity led to a noticeable drop in its total BTC holdings.
According to the update, Riot mined 460 Bitcoin in December, reflecting an 8% increase compared to November’s output. However, this figure was still 11% lower than production levels recorded during the same period last year, highlighting the longer-term impact of network difficulty growth and post-halving conditions.
Key Takeaways
- Riot Platforms mined 460 BTC in December 2025, posting an 8% increase from November despite lower year-on-year production.
- Bitcoin holdings fell to 18,005 BTC after the company sold 1,818 BTC to support liquidity and operational needs.
- The December Bitcoin sale generated about $161 million, reflecting Riot’s continued use of BTC liquidation to fund expansion.
- Deployed hash rate rose to 38.5 EH/s while power costs declined to 3.9 cents per kWh, supported by strong demand response credits.
Bitcoin Sales Weigh on Treasury Holdings
Despite the improved month-on-month production, Riot significantly reduced its Bitcoin treasury after selling 1,818 BTC during December. Following these sales, the company’s total Bitcoin holdings declined to 18,005 BTC, down from 19,368 BTC at the end of November.
“The company mined 460 Bitcoins during the month and sold 1,818 Bitcoins, reducing its holdings to 18,005 Bitcoins.”
The Bitcoin liquidation generated approximately $161 million in proceeds. At prevailing market prices, Riot’s remaining Bitcoin stack is valued at roughly $1.7 billion, underscoring the scale of its treasury even after the reduction.
“Riot Platforms, a Bitcoin mining and data center company, sold 1,818 Bitcoin in December 2025 for approximately $161 million.”
Riot explained that the sales were part of a broader liquidity management strategy, aimed at covering operating expenses and supporting ongoing infrastructure expansion during periods of market volatility.
Financing Growth Through Bitcoin Liquidation
The December sale aligns with Riot’s long-standing financing approach, which combines Bitcoin sales with equity offerings to fund growth initiatives. Rather than relying solely on debt, the company has consistently treated its Bitcoin production as both a strategic asset and a flexible funding source.
“The sale represents part of the company’s ongoing strategy to fund operational expansions through Bitcoin liquidation.”
This approach has become increasingly common among large-scale miners navigating tighter margins and higher competition following the most recent Bitcoin halving.
Hash Rate Expansion and Power Cost Improvements
Operationally, Riot reported continued progress on the infrastructure front. Its deployed hash rate climbed to 38.5 exahashes per second (EH/s) in December, reinforcing its position among the largest publicly listed Bitcoin miners.
The company also benefited from favorable energy economics. Power and demand response credits reached $6.2 million for the month, helping push Riot’s all-in power cost down to 3.9 cents per kilowatt hour. Fleet efficiency also improved on a year-over-year basis, partially offsetting lower annual production.
Shift to Quarterly Reporting
December 2025 marked a turning point in how Riot communicates its mining performance. The company confirmed that this report would be its final monthly production update, with future disclosures moving to a quarterly format.
“Riot said December marked its final monthly production update, with future disclosures shifting to quarterly reporting focused on business performance and data center strategy.”
The change signals a greater emphasis on long-term execution, data center development, and financial performance rather than short-term mining fluctuations.
