At a glance
- Riot's sale is about 6.5 times Hut 8's cumulative sales since July.
- Miner revenue arrives in bitcoin, so a sale converts mined coin into dollars for a named commitment.
- For an allocator holding Riot or Hut 8 as a bitcoin proxy, the treasury policy is the exposure: Riot's sale funds an AI data center build, Hut 8's sale funds buybacks.
Riot disclosed the sale of 20,264 bitcoin to fund an AI data center build, and Hut 8 has sold 3,102 BTC since July to back $250 million of share repurchases.
Riot's sale is about 6.5 times Hut 8's cumulative sales since July. Miner revenue arrives in bitcoin, so a sale converts mined coin into dollars for a named commitment. Hut 8's 3,102 BTC spread across roughly four months from July to early November implies sales of about 775 BTC a month.
For an allocator holding Riot or Hut 8 as a bitcoin proxy, the treasury policy is the exposure: Riot's sale funds an AI data center build, Hut 8's sale funds buybacks. That means the bitcoin exposure is not static. It is spent. Hut 8's buybacks shrink the share count against the same mined output. Riot's data center build adds AI computing capacity, a different business from mining. The diligence question is how much of each treasury remains earmarked for further capex and buybacks, and how quickly the sales have run.
Two miners, two very different uses for the same coin
Bitcoin each miner sold and the commitment the proceeds fund
Riot
20,264 BTC
- Proceeds fund
- AI data center build
Hut 8
3,102 BTC
- Sold since
- July 2026
- Proceeds fund
- $250M share repurchases
Show as table
| Riot | Hut 8 | |
|---|---|---|
| Figure | 20,264 BTC | 3,102 BTC |
| Proceeds fund | AI data center build | $250M share repurchases |
| Sold since | July 2026 |
Reported by The Wrap desk from Digital Capital Daily data pack (firm announcements and releases). Published . Updated Nov 6, 2026 · 3:02 p.m. ET. Corrections