Riot sells $750M in BTC and Hut 8 dumps $250M as miners liquidate holdings

Riot Platforms sold 10,599 BTC for roughly $750 million in the third quarter, while Hut 8 sold about $250 million of bitcoin, according to their Q3 earnings reports. Riot is using the proceeds to fund data center expansion and Hut 8 to finance share repurchases. Large miner liquidations add sell-side pressure to BTC supply and can weigh on sentiment, though the disclosed capital uses are strategic rather than distressed.