Riot Platforms Transfers Second $39M Bitcoin Batch to NYDIG in Miner Sell-Off Surge

Riot Platforms has transferred a second 500 BTC batch (~$39 million) to institutional custodian NYDIG today, intensifying fears of accelerated miner selling after an initial identical move earlier. This follows Riot's Q1 2026 sale of 3,778 BTC for $289.5 million and mirrors actions by peers like Marathon Digital (15,000 BTC sold for ~$1.1B), CleanSpark (905 BTC), and Core Scientific (1,900 BTC+). The pattern, post-May 2024 halving, signals rising supply pressure and tighter mining margins, potentially capping Bitcoin upside near $75,000 support amid elevated volatility.