North American-listed mining companies sold 32k Bitcoins in Q1, exceeding the total for the entire previous year, setting a record for the highest single-quarter amount.

Mars Finance reports that on April 17, according to TheMinerMag data, in the first quarter of 2026, a total of over 32k BTC were sold by publicly listed Bitcoin mining companies including MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer, surpassing the total for the entire previous year, and even exceeding the bear market sell-off level triggered by the Terra-Luna collapse in Q2 2022, setting a “new quarterly record.”
The background for this sell-off is that the key indicator measuring miners’ profitability, “hashprice,” dropped to a historic low of less than $35 per PH/s per day, with about 20% of miners already in loss.
Asset management firm CoinShares stated in its report: “Unless the price of BTC rises sharply, high-cost miners will further capitulate in the first half of 2026.”