Riot sold 5,886 BTC in the second quarter for $400 million, marking a significant treasury move by the U.S. Bitcoin miner. The company reported a mining cost of $49,912 per BTC, retained 11,380 BTC valued at $728 million, and said 50% of its reserves have been posted as collateral. The figures point to a strategy that blends Bitcoin sales with balance-sheet financing, a common approach for miners managing operating costs, capital needs and exposure to price swings.