Riot Platforms shares surge 16.92% intraday after selling $200M in Bitcoin to fund AI infrastructure and data center expansion.

Riot Platforms (RIOT) surged 16.92% intraday after disclosing it sold $200 million in Bitcoin to fund operations and accelerate its AI data-center expansion. The strategic move, highlighted in recent reports, signaled a shift from crypto holdings to growth capital expenditures, reducing reliance on equity or debt financing. Management also promoted an insider to CFO and released operational updates for December 2025, reinforcing execution confidence. While the Bitcoin sale reduced the company’s BTC reserves—a potential downside in a crypto rally—investors interpreted the action as a long-term value play, prioritizing infrastructure and AI-driven revenue growth over short-term Bitcoin exposure. The intraday volatility aligned with heightened retail and media interest in the stock’s pivot, though trading volume remained below average.