Public Miners Sell $1.05B Bitcoin, Boosting Market Supply

Edgen Crypto

·Mar 06 2026, 03:23

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Key Takeaways

Publicly listed Bitcoin mining companies have sold over 15,000 BTC, valued at approximately $1.05 billion, since October of the previous year. This sustained selling pressure increases the available supply on the market, potentially creating headwinds for Bitcoin's price.

Sustained Selling: Listed miners have sold over 15,000 BTC worth roughly $1.05 billion since October.
Notable Sales: Major liquidations include Cango's sale of 4,451 BTC in February and Core Scientific's plan to sell ~2,500 BTC in Q1.
Market Impact: The offloading increases Bitcoin's circulating supply, which could suppress price appreciation as miners take profits or cover operational costs.

Miners Offload Over 15,000 BTC Since October

Publicly listed Bitcoin mining companies have systematically reduced their holdings since October of last year, selling more than 15,000 BTC. The sales, valued at approximately $1.05 billion, inject significant supply into the market. Key firms involved in this trend include Cango, Bitdeer, and Riot Platforms, indicating a sector-wide move to liquidate portions of their Bitcoin reserves.

Cango's February Sale Highlights Profit-Taking Trend

The scale of the selling is underscored by individual company actions. Cango executed a substantial sale of 4,451 BTC in February, while Core Scientific has announced intentions to sell roughly 2,500 BTC during the first quarter. This consistent distribution from miners increases the available supply of Bitcoin, which can act as a drag on price momentum. Investors may view this activity as a signal that miners are either capitalizing on current prices to lock in profits or are forced to sell to cover high operational costs, a factor that could weigh on broader market sentiment.