Public mining firms sold over 40% of their BTC in March — Report
Miners continue to face economic challenges as the cost of everything from energy to hardware is projected to rise due to trade tariffs.
Publicly listed Bitcoin miners sold over 40% of the collective coins mined in March, representing the largest monthly BTC liquidation for mining firms since October 2024 and reversing the post-halving trend of accumulating Bitcoin (BTC) for a corporate treasury strategy, according to TheMinerMag, which screened data from 15 publicly traded mining companies.
The increased liquidations come amid widespread macroeconomic uncertainty in financial markets and the business sector, likely signaling that companies are selling their BTC to reduce shortfalls caused by the current economic climate.
Mining firms offloading BTC to cover operational expenses contributes to selling pressure on the cryptocurrency, which can result in a price volatility. According to CoinGlass, Bitcoin posted a 2.3% loss in March, following a 17.39% correction the previous month.
