Riot Platforms Q1 2026 BTC Sale Analysis - Sold 3,778 BTC for $289.5M (avg $76,626/BTC), exceeding 1,473 BTC mined. - Ended quarter with 15,680 BTC ($1.1B holdings), 5,802 pledged as collateral. - Hashrate expanded 26% to 42.5 EH/s despite lower production. Implications: Provides liquidity amid AI/HPC pivot, mirroring peers like MARA. Alpha angle: Signals miners reframing BTC treasury as rechargeable "venture fuel" for compute diversification—potentially decoupling long-term value from pure crypto cycles.(unfolded.)