Publicly Traded Bitcoin Miners Have Sold 15,000 BTC Since October, With More Sales Expected

Bitcoin miners have traditionally held the BTC they produced on their balance sheets as a bet on rising prices. But shrinking mining margins and mounting operating costs and debt pressures have forced companies to adjust their strategies. Moves by publicly traded miners including Cango, Bitdeer and Riot Platforms could affect market supply and prices because of their substantial Bitcoin holdings.

Publicly traded miners including Cango, Bitdeer and Riot Platforms have collectively sold more than 15,000 BTC since the market peaked in October 2024, according to a Miner Weekly report. Companies are shifting from long-term holding to flexible treasury management to raise cash, repay debt and navigate market volatility. The report expects selling pressure to persist until profitability improves.