Riot (RIOT) and Hut 8 (HUT) Sell Thousands of Bitcoin to Fund AI Ventures, Share Buybacks

Public bitcoin miners Riot Platforms and Hut 8 reported third-quarter results revealing that both companies have been selling significant amounts of bitcoin from their treasuries to fund share buybacks and data center construction for artificial intelligence ventures. Riot sold thousands of bitcoin to finance data center work and a major 15-year lease with an AI lab, while Hut 8 sold bitcoin to retire shares and expand its repurchase authorization. Open article →