In order to raise cash and maintain liquidity, bitcoin miner Riot Blockchain from its crypto reserve.
The bitcoin mining company has sold about 250 bitcoins in May that helped Riot to raise about $7.5 million that makes an implied price of each bitcoin to be $30,000.
This reflects the almost continuous decline in price of bitcoin leads for the company to release more bitcoins in order to cater the similar amounts requirement.
After all sales, the balance sheet of Riot Blockchain shows holdings of 6,536 bitcoin by the end of May.
Previously, Riot had an outlook for next year to deploy 120,150 mining rigs to reach 12.8 EH/s.