The large mining company Riot Platforms in April sold 475 BTC mined. This is the first case since January last year, when the company had to abandon the storage storage strategy for the first cryptocurrency.

According to the information provided by Riot, all 463 BTCs obtained for April were sold, and an additional 12 BTC from reserves. The company received $ 38.8 million for assets, and directed funds for infrastructure development and operating costs.

According to the Director General of Riot Jason Les, thanks to the sale, it was possible to reduce the needs of the company to attract additional capital through the issue of shares and minimize the losses for shareholders.

“We will continue to monitor market conditions and use all available tools for the most sustainable business financing, remaining committed by a long -term storage of bitcoins, reflecting our firm belief in the future asset potential,” the forest explained.

Note that a few months ago the company opened a credit line of $ 100 million on security of its bitcoins through the Coinbase exchange. As of the end of the month, 19 211 BTC remains on the balance of Riot. Last week, the company reported on a quarterly loss of $ 300 million.

Earlier, CoinShares experts said that Bitcoin mining, which was once considered “golden residential” for enthusiasts and crypto companies, gradually turned into a financial trap. The mining market encountered unprecedented challenges, and the viability of most small market participants was in question.