Publicly listed Bitcoin mining companies have sold over 15,000 Bitcoins since last year.

robot
Abstract generation in progress

ChainCatcher reports that, according to Cointelegraph, publicly listed Bitcoin mining companies have sold over 15,000 Bitcoins since last year.

The Mining Weekly newsletter from The Energy Mag pointed out that several major mining companies are the main participants in this sell-off, including Cango, which sold about 60% of its holdings—4,451 Bitcoins—in February; Bitdeer, which liquidated its entire Bitcoin inventory in January; Riot Platforms, which made multiple sales in December; and Core Scientific, which plans to sell approximately 2,500 Bitcoins in the first quarter.

The largest publicly listed mining company, MARA Holdings, stated in its latest regulatory filings that it may buy and sell Bitcoin to maintain flexibility and options. This statement has attracted market attention, with the company’s vice president clarifying that the filing allows for flexible sales but does not mean they will liquidate most of their holdings. MARA currently holds over 53,000 Bitcoins, making it the second-largest Bitcoin holder among listed companies after Strategy. Analysts believe that as profit margins narrow and debt pressures increase, mining companies are being forced to reassess their previously common holding strategies. Previously, Bloomberg reported that the AI boom prompted Bitcoin miners with holdings totaling over $8 billion to transform, raising concerns about market sell-offs.

BTC-1,17%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
  • Pin