Publicly listed crypto mining companies' Bitcoin sales in Q1 2026 exceed the total for all of 2025

robot
Abstract generation in progress

ME News Report, April 17 (UTC+8), including listed Bitcoin mining companies such as MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer, sold over 32k Bitcoin in the first quarter of 2026, surpassing the total sales for all of 2025 and setting a new record for quarterly miner sell-offs. The previous record was 20k coins sold during the Terra-Luna collapse in Q2 2022. Currently, the hash rate price has fallen to a historic low of below $35 per PH/s per day, with the level around $33 causing approximately 20% of miners to be in a loss. Miners face multiple pressures including rising hash rates, halving of block rewards, and macroeconomic headwinds. CryptoQuant data shows that the total Bitcoin held by miners has decreased from 1.86 million at the end of 2023 to about 1.80 million now. CoinShares predicts that unless Bitcoin prices surge significantly, high-cost miners will further exit the market in the first half of 2026. In contrast, Bitcoin fund companies like Strategy continue to buy. (Source: PANews)

BTC3.91%
LUNA4.67%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin