Data: Publicly listed mining companies sold 28,000 BTC this year, becoming a neglected source of selling pressure in the Bitcoin market amounting to $1.78 billion

According to CoinDesk, data from Blockware Intelligence shows that publicly listed Bitcoin miners held a total of 127,000 BTC at the beginning of the year, which has now decreased to 99,000 BTC, with a cumulative sale of approximately 28,000 BTC this year, valued at about $1.78 billion at current prices.

Analysis indicates that although the scale of this sell-off is smaller than the net outflow of over $4.4 billion from U.S. spot Bitcoin ETFs, the continuous and stable marginal selling pressure in the context of a declining market and weak buying interest is often underestimated in its impact on prices. BTC has fallen a total of 27% since the beginning of 2026, underperforming major assets including the S&P 500. Additionally, due to narrowing mining profits (the current average production cost per BTC is about $74,300), an increasing number of miners are transitioning to AI computing power businesses. Meanwhile, the overall mining difficulty has decreased by about 18% from its peak in November, resulting in an approximate 18% increase in mining revenue for remaining miners, reshaping the competitive landscape of the industry.