Bitcoin Miners Liquidate Treasury Assets Amid Rising Power Costs

Bitcoin miners have been facing increasing power costs, leading some publicly traded companies to liquidate their treasuries and sell a significant amount of Bitcoin. According to recent data, these companies have sold a total of 5,359 BTC from their reserves, which is the first sustained contraction in miner balances since they began treating bitcoin as a balance-sheet asset.

The sale of treasury assets is expected to add pressure on the market, potentially reducing demand and impacting prices. However, it's worth noting that the amount sold represents only 4.44% of the total held by publicly traded miners, which is still a significant amount.