Bitcoin Miners Panic-Sell 15,000 BTC as AI Pivot Sparks Record Liquidation

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<a href="https://inrusdinr.in/btc-usd/">Bitcoin</a> Miners Are Dumping Their Reserves – And It’s Not Stopping

Key Takeaways

  • Public Bitcoin miners sold over 15,000 BTC between October 2025 and February 2026 — the sharpest treasury liquidation this cycle.
  • Margin pressure is at record levels, with hashprice falling below $30/PH/s and transaction fee revenue down 70%.
  • Companies like Core Scientific and Bitdeer are abandoning mining reserves to fund AI/HPC infrastructure pivots.
  • The HODL era for miners is effectively over — Bitcoin is now treated as operational cash, not a strategic asset.

Starting in October 2025, a group of companies have sold off over 15,000 Bitcoin from their holdings. This five-month selling spree suggests a significant shift in strategy, rather than just a typical market fluctuation.

February 2026 was a really tough month for me and a lot of other crypto investors. I watched as miners dumped a huge amount of Bitcoin – over 6,100 BTC in just one month, which was the biggest sell-off we’d seen. Cango, for example, sold off about 60% of their Bitcoin holdings – over 4,400 BTC! Bitdeer actually sold *all* of their Bitcoin by early 2026. Core Scientific, which used to hold nearly 10,000 BTC, was down to around 630 by March 2026 after they raised $175 million through sales. Even Riot Platforms had to sell about four times their usual monthly mining output in December 2025 just to stay afloat and fund acquisitions. It was a pretty scary time to be holding BTC.

Even MARA Holdings, the public mining company with the most Bitcoin – holding over 53,000 – recently changed its financial rules in March 2026. For the first time, they now allow themselves to sell some of their Bitcoin when they choose. This is a big change for a company that had previously focused solely on buying and holding the cryptocurrency.

The Economics Are Brutal

The cause of the issue is clear: Bitcoin’s price dropped from a high of around $126,000 in October 2025, making it less profitable to mine. The network became harder to mine on at the same time that the fees earned from transactions plummeted – they fell by 70% between May 2025 and January 2026. This meant miners were earning less than $30 per petahash per second, and many public mining companies were barely breaking even.

Experts are calling this the worst financial pressure the industry has ever faced. Because energy costs are locked in and income from Bitcoin is decreasing, selling treasury bonds isn’t just a plan – it’s a necessary move to stay afloat.

The AI Pivot

Many Bitcoin mining companies aren’t just trying to stay afloat – they’re shifting their focus. Companies like Bitfarms (now Keel Infrastructure) and Core Scientific are investing in artificial intelligence and advanced data centers instead. This makes financial sense because AI infrastructure can be much more profitable, with potential operating margins of 80–90%, while Bitcoin mining is becoming less and less profitable.

Instead of losing value, the equipment, energy agreements, and buildings that Bitcoin miners invested in during the recent market boom are now being used for new purposes. Essentially, their Bitcoin holdings are becoming the initial funding for completely different ventures.

What Comes Next

As an analyst, I’m watching the Bitcoin mining space closely, and right now, the near-term success of remaining miners really hinges on price movement. We’re seeing $72,000 as a key level to watch – if Bitcoin can’t break above that, I anticipate continued selling pressure. The technical charts still show a bearish pattern, and that won’t change unless we see a definitive break past $72,000.

Recent blockchain data suggests a possible bottom for the current market. Glassnode’s Hash Ribbon indicator has often shown that when less efficient miners shut down and the network adapts, it signals the end of a major price drop. We’re starting to see similar activity now, with some miners leaving the market, which could reduce competition for those who stay.

The common understanding of Bitcoin mining has changed. It’s no longer accurate to see miners as simply holding onto Bitcoin like a central bank stockpiles gold. Now, Bitcoin is being treated as an asset that can be sold to cover business expenses. This represents a significant shift for an industry that previously avoided selling whenever possible.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Always do your own research and talk to a qualified financial advisor before investing.

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2026-03-08 09:20