Publicly traded Bitcoin (BTC) mining companies sold more BTC in Q1 2026 than in all four quarters of 2025, as business conditions tighten for the mining industry. Publicly listed BTC miners, including MARA, CleanSpark, Riot, Cango, Core Scientific and Bitdeer, have collectively sold more than 32,000 BTC in Q1 2026, according to TheEnergyMag. The Q1 sales surpassed the 20,000 BTC sold in Q2 2022 during the crypto bear market triggered by the collapse of the Terra-Luna ecosystem, setting a “new record” for BTC miner sales in a single quarter, TheMinerMag said.

The sales come as hashprice, that is, the computing cost and a critical metric for miner profitability, sits at record low levels under $35 per petahash/second per day (PH/s), according to data from Hashrate Index. That $35 PH/s level is the breakeven for many Bitcoin miners, particularly those running older mining machines, and the current hashprice of about $33 PH/s per day places about 20% of the mining industry in unprofitable territory.

The heavy BTC sales come as the mining industry struggles with increased competition represented by a rising hashrate, the total computing power expended by miners to secure the network, reduced block rewards and macroeconomic headwinds. Articol similar: Minerii Bitcoin se confruntă cu un drum mai dificil până la halving-ul din 2028

Cantitatea de BTC deținută de mineri a scăzut pe termen lung, în timp ce companiile cu trezorerie intervin

The Bitcoin Miner Reserve, a metric tracking all the BTC held by miners, has been gradually decreasing since 2023, according to CryptoQuant. Bitcoin miners collectively held over 1.86 million BTC at the end of 2023, but only hold about 1.8 million BTC at the time of publication.

Miners periodically sell portions of their BTC to cover operating expenses, but a combination of lower crypto prices and rising energy costs has forced some miners to offload coins they would have held in their corporate treasuries. “Ne așteptăm la o capitulare suplimentară în rândul operatorilor cu costuri mai mari în H1 2026, cu excepția cazului în care prețul BTC își revine substanțial,” a declarat managerul de active CoinShares în Raportul său de Mining Bitcoin pentru T1 2026. În contrast puternic cu vânzările minerilor se află companiile de trezorerie Bitcoin, precum Strategy, care a fost un cumpărător regulat al celei mai mari criptomonede. Michael Saylor, co-fondatorul celei mai mari companii de trezorerie Bitcoin, a semnalat la începutul acestei săptămâni că Strategy achiziționează mai mult BTC, pe măsură ce prețul s-a retras de la maximul local de peste 73.000 USD atins săptămâna aceasta. „Gândiți mai măreț,” a spus Saylor duminică, în timp ce a distribuit graficul istoricului de achiziții BTC al Strategy, care a devenit sinonim cu achizițiile iminente de BTC. Revistă: Industria de mining Bitcoin „va fi moartă în 2 ani”: CEO Bit Digital