Public Bitcoin Miners Add $1.78 Billion to Selloff

Public bitcoin miners routinely sell part of their output to cover electricity, equipment and financing costs, making them a persistent source of market supply. That pressure becomes more consequential when prices weaken and spot exchange-traded funds are also losing assets. The shift by listed operators including MARA Holdings and Core Scientific toward artificial intelligence and high-performance computing is further changing how the industry allocates capital.

By August 2026, listed miners had sold about 28,000 bitcoin this year, worth an estimated $1.78 billion, according to a tally cited in the reports. MARA accounted for 20,880 coins in the first quarter, while Core Scientific sold about 1,900 in January. The supply hit coincided with outflows from U.S. spot bitcoin ETFs, intensifying downward pressure. As operators close capacity or redirect sites to AI, lower network difficulty is improving unit economics for miners that remain.