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Publicly listed Bitcoin mining companies have cumulatively sold over 15,000 Bitcoins since last year
According to Cointelegraph, publicly listed btc-42">Bitcoin mining companies have sold over 15,000 Bitcoins since last year.
The Mining Weekly newsletter from The Energy Mag pointed out that several large mining companies are the main participants in this sell-off, including Cango, which sold about 4,451 Bitcoins, approximately 60% of its holdings, 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 about 2,500 Bitcoins in the first quarter.
The largest listed mining company, MARA Holdings, stated in its latest regulatory filing that it may maintain flexibility and selectivity through buying and selling Bitcoins. This statement has attracted market attention, and the company's vice president clarified that the filing allows for flexible sales but does not imply that a significant portion of its holdings will be liquidated. MARA currently holds over 53,000 Bitcoins, making it the second-largest Bitcoin holder among publicly traded companies, behind Strategy. Analysts believe that as profit margins narrow and debt pressures increase, mining companies are being forced to reassess the holding strategies that were previously widely adopted. Earlier, Bloomberg reported that the AI boom has prompted Bitcoin mining companies, with holdings exceeding $8 billion, to transform, raising concerns about market sell-offs.
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