Riot Platforms sold 1,818 Bitcoins in December 2025, cashing out $161.6 million, and raised over $600.53 million in equity financing, thereby changing its previous Bitcoin accumulation strategy and instead providing funding for its artificial intelligence data center expansion. The company will switch to quarterly financial reporting, focusing on infrastructure development progress to highlight its transformation from a pure mining business. However, this capital-intensive construction also carries the risk of underutilized capacity, especially without tenant guarantees.