Public Bitcoin miners report BTC held as collateral or restricted

CleanSpark reported that of the 13,924 BTC it held as of June 30, 1,719 BTC were posted as collateral or recorded as receivables tied to derivative transactions. The company reported those entries on its latest balance sheet footnote.

CleanSpark also reported mining 614 BTC in June. The company recorded other treasury changes for the month: it sold 179 BTC at spot prices, sold 250 BTC pursuant to call exercises, acquired 25 BTC pursuant to put exercises and added 244 BTC related to a delta-neutral basis trade.

Riot Platforms reported 15,680 BTC at quarter-end in its Q1 2026 operations update. Riot identified 5,802 BTC as restricted after selling 3,778 BTC for $289.5 million in net proceeds. Riot’s restricted balance represented roughly 37% of its reported holdings.

Companies classify BTC as collateral, restricted, receivable or monetized when contractual arrangements limit transfer or when coins are pledged to secure financing or derivative positions. Such classifications are recorded in company disclosures and may affect how readily the coins can be moved or sold.

Bitcoin traded near $62,000 on July 8, roughly 50% below its October 2025 high. CoinShares reported that listed miners’ weighted-average cash cost to produce one BTC rose to about $79,995 in Q4 2025. The same analysis showed a hashprice near $30 per PH/day and estimated that 15% to 20% of the global mining fleet was operating at a loss because of higher power costs.

CoinShares also reported that listed miners’ exposure to AI-related revenue could rise to about 70% by the end of 2026 from roughly 30%, citing more than $70 billion of announced GPU colocation and cloud-service deals with hyperscalers. Company statements and industry reports indicate that AI-related projects involve upfront capital and ongoing operating costs.

The recent disclosures illustrate differences between headline BTC balances and the portions subject to contractual limits or already monetized. Quarterly reports that specify unrestricted BTC, pledged or restricted BTC, receivables, and monetized amounts will provide the data points that investors and creditors review when assessing liquidity and financing positions.