Bitcoin Miners Liquidate Record 32,000 BTC Amid Profitability Crisis

Public bitcoin miners have been actively selling their BTC reserves in Q1 2026, with a record 32,000 BTC sold during the quarter. This marks a significant increase from previous net sales records, including the roughly 20,000 BTC dumped during the Terra-Luna collapse in Q2 2022.

The sell-off is attributed to several factors, including compressed margins, heavy debt obligations, and a pivot towards artificial intelligence (AI) infrastructure. The EnergyMag reports that hashprice has hovered in the low $30-per-petahash-per-second range, near all-time lows, making it difficult for miners to maintain profitability.

The major industry leaders who led the sell-off include MARA Holdings, CleanSpark, Riot Platforms, Cango, Core Scientific, and Bitdeer. These companies used the proceeds from the sale of their BTC reserves to retire Bitcoin-backed loans or support their operations.