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Is Riot Platforms selling BTC? The Riot Platforms wallet address (NYDIG Custody) transferred 500 BTC ($34.13M) to a wallet address that specializes in sending BTC to the NYDIG Hot Wallet yesterday. The most recent sale was 17 hours ago, for 500 tokens (worth $34.13M) that were transferred are still in the wallet. Based on the data behavior, Riot will soon transfer tokens to the NYDIG Hot Wallet. Some sources suggest that the Middle East conflict, which increased global energy costs, put greater pressure on miners (including Riot) to maintain profitability, indirectly prompting them to sell more to stay afloat during a period of narrow profit margins.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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