Arkham flagged a 500 Bitcoin outflow from a wallet it attributes to Riot Platforms on Wednesday, a move that appears to be a sale the company had not publicly addressed by the time of reporting.
The 500 BTC outflow follows Riot’s disclosure of record 2025 revenue of about $647 million, driven by increased Bitcoin mining revenue, and occurs amid broader disposals by large listed miners. Last week, MARA Holdings said it sold roughly $1.1 billion of Bitcoin in March to repurchase convertible debt at a discount. Public miners have collectively offloaded more than 15,000 BTC in recent months as they balance operational needs and investment plans against a volatile price and cost environment.
The trend is mixed. Some bitcoin treasury companies, including Metaplanet, continue to add aggressively to holdings. Nakamoto disclosed in a filing that it sold about 284 BTC for $20 million in March. Onchain tracker Lookonchain, citing Arkham data, reported wallets linked to Empery Digital moved what it described as the remaining 1,795 BTC (about $122.5 million) to Gemini after a series of smaller sales through March.
Delisting risk has risen for some mining-related stocks. Cango, which has expanded its Bitcoin mining operations, said Wednesday it received a notice from the New York Stock Exchange after its shares traded below $1 for 30 consecutive trading days, triggering a six-month period to regain compliance with continued-listing standards. That same day, Cango announced a $65 million strategic investment and $10 million in convertible note financing. The share price rose on the news, closing at $0.42 (up 4.6%), though it traded around $0.41 in premarket, still well below NYSE requirements.
Juliet Ye, head of investor relations and communications at Cango, told Cointelegraph the company will stick to its strategic roadmap and has been implementing cost optimization and efficiency measures, including divesting obsolete capacity and shifting to lower-cost electricity regions. She said the recent financings and an adjustment to treasury strategy are concrete steps to address listing requirements and current market conditions.
Earlier this year, crypto-mining hardware maker Canaan Inc. received a similar minimum-bid deficiency notice from Nasdaq after its American depositary shares remained under $1 for 30 straight sessions, giving it 180 days to remedy the issue. Despite share pressure, Canaan expanded operations: its Bitcoin reserves rose in Q1 2026 and in March it bought a 49% stake in two Texas mining sites as part of a strategy to diversify geographically and bolster U.S. market exposure.
Related coverage has noted a drop in Bitcoin mining difficulty (7.7%), reflecting persistent miner pressure. Observers say miners’ treasury moves — sales, purchases and strategic financing — are responses to a tougher cost and price backdrop and varied corporate strategies across the sector.
Cointelegraph is committed to independent, transparent journalism. This article follows Cointelegraph’s Editorial Policy and aims to provide accurate, timely information. Readers are encouraged to verify information independently. Read the Editorial Policy at https://cointelegraph.com/editorial-policy