{"id":94975,"date":"2026-03-05T19:45:02","date_gmt":"2026-03-05T16:45:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=94975"},"modified":"2026-03-06T08:13:49","modified_gmt":"2026-03-06T05:13:49","slug":"theenergymag-forecasts-heavier-selling-by-bitcoin-miners","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/theenergymag-forecasts-heavier-selling-by-bitcoin-miners\/","title":{"rendered":"TheEnergyMag Predicts Increased Selling Pressure from Bitcoin Miners"},"content":{"rendered":"<p>Mining companies have been offloading coins over the past several months, and recent disclosures by major players suggest the trend may tighten, <a href=\"https:\/\/www.theenergymag.com\/news\/2026-03-05\/bitcoin-miners-sell-fast\">TheEnergyMag<\/a> reports.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c70d93e87f16d301-7943558772105422-1024x683.png\" alt=\"image\" class=\"wp-image-276278\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-c70d93e87f16d301-7943558772105422-1024x683.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-c70d93e87f16d301-7943558772105422-300x200.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-c70d93e87f16d301-7943558772105422-768x512.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-c70d93e87f16d301-7943558772105422.png 1200w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: TheEnergyMag.<\/figcaption><\/figure>\n<p>Recently, the following sold holdings: <\/p>\n<ul class=\"wp-block-list\">\n<li>Riot \u2014 in December <a href=\"https:\/\/forklog.com\/en\/news\/riot-platforms-sells-1080-btc-to-expand-in-ai\">sold<\/a> four times as many coins as it mined over 30 days;<\/li>\n<li>Cango \u2014 in February sold 4,451 BTC (60% of reserves);<\/li>\n<li>Bitdeer \u2014 in the same month fully <a href=\"https:\/\/forklog.com\/en\/news\/bitdeer-sells-entire-bitcoin-reserve\">sold off<\/a> its bitcoin holdings (about 943.1 BTC);<\/li>\n<li>Core Scientific \u2014 <a href=\"https:\/\/forklog.com\/en\/news\/core-scientific-to-sell-2537-btc\">said<\/a> it plans to sell most of its coins by the end of the first quarter.<\/li>\n<\/ul>\n<p>By TheEnergyMag\u2019s calculations, over five months public miners have sold more than 15,000 BTC in aggregate. This selling pressure risks intensifying.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cIn other words: the era of HODL is gradually ending. Miners are selling shares as they face a sharp squeeze in profits. Selling pressure should not be surprising,\u201d the experts added. <\/p>\n<\/blockquote>\n<h2 class=\"wp-block-heading\"><strong>Unfavourable position<\/strong><\/h2>\n<p>According to an analysis of recent quarterly reports, <span data-descr=\"miners' revenue per unit of computing power expended\" class=\"old_tooltip\">hashprice<\/span> is a key profitability metric for miners; at present it has fallen below $30 per PH\/s per day. <\/p>\n<p>In these conditions most public players are operating at or below break-even. <\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"701\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899-1024x701.png\" alt=\"image\" class=\"wp-image-276279\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899-1024x701.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899-300x205.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899-768x525.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899-1536x1051.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-0467d621dbaecd04-7943558832652899.png 1900w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: TheEnergyMag.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cHistorically, the gap between hashprice and <span data-descr=\"miners' cost per unit of computing power expended\" class=\"old_tooltip\">hashcost<\/span> has been one of the strongest drivers of treasury liquidations,\u201d TheEnergyMag noted.<\/p>\n<\/blockquote>\n<p>Unlike previous downturns, many public miners entered 2025 with heavy debts. The industry tapped credit lines, bitcoin-backed loans and secured bonds to finance operating expenses as well as large-scale build-outs of AI and <span data-descr=\"high-performance computing\" class=\"old_tooltip\">HPC<\/span> data centres.<\/p>\n<p>As of December 31, the three largest miners \u2014 Hut 8, MARA Holdings and Riot \u2014 had pledged more than 14,500 BTC as loan collateral, the magazine\u2019s authors said.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"441\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e56bb0c49a331422-7943558832651442-1024x441.png\" alt=\"image\" class=\"wp-image-276280\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-e56bb0c49a331422-7943558832651442-1024x441.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-e56bb0c49a331422-7943558832651442-300x129.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-e56bb0c49a331422-7943558832651442-768x331.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-e56bb0c49a331422-7943558832651442.png 1494w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: TheEnergyMag.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe catch is that as bitcoin\u2019s price falls, the loan-to-value ratio rises. After the sharp plunge, collateral ratios likely increased. That means companies have already pledged additional coins to maintain lending thresholds,\u201d the experts added.<\/p>\n<\/blockquote>\n<p>The current <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-briefly-tops-74000\">rebound<\/a> of the leading cryptocurrency to $74,000 has done little to ease miners\u2019 position. They still need to sell assets to cover operating costs and to pursue AI transition plans. <\/p>\n<p>In February, MARA <a href=\"https:\/\/forklog.com\/en\/news\/mara-miner-reports-1-7-billion-loss-and-announces-shift-to-ai\">reported<\/a> a $1.7bn loss and said it intends to shift its focus to artificial intelligence. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mining companies have been selling coins for months, and new disclosures from major players suggest the trend may intensify, TheEnergyMag reports.<\/p>\n","protected":false},"author":1,"featured_media":94609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"TheEnergyMag says bitcoin miners may step up coin sales amid tighter margins.","creation_source":"ai_translated","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-94975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"81","promo_type":"1","layout_type":"1","short_excerpt":"TheEnergyMag says bitcoin miners may step up coin sales amid tighter margins.","is_update":"0","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=94975"}],"version-history":[{"count":2,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94975\/revisions"}],"predecessor-version":[{"id":94981,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94975\/revisions\/94981"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/94609"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=94975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=94975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=94975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}