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Public Bitcoin miners sold over 15,000 $BTC after Bitcoin reached its record $126,000 price peak.
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Mining firm Cango sold 4,451 $BTC to reduce its growing $407 million debt burden.
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Some miners like Bitdeer and Core Scientific are selling $BTC to invest in AI data centers.
Publicly listed Bitcoin mining companies have sold more than 15,000 $BTC since October, around the time Bitcoin reached its $126,000 all-time high. Now, several mining companies are planning to sell even more in early 2026.
With Bitcoin struggling to stay above $70K, investors are asking: Is a bigger Bitcoin price drop coming next?
Bitcoin Miner Sold Over 15,000 $BTC Since October
One of the largest sales came from Cango, which sold 4,451 $BTC in February, equal to about 60% of its Bitcoin reserves. The company made this move because of its growing $407 million debt.
By selling the Bitcoin, Cango aimed to reduce its debt and strengthen its balance sheet.
Another major mining company, Riot Platforms, also sold 1,818 $BTC in December, reducing its holdings from 19,368 $BTC to 18,005 $BTC. In company filings, Riot stated that it may sell a significant portion of its Bitcoin holdings in 2026 to improve liquidity and support operational expenses.
Meanwhile, MARA Holdings currently holds more than 53,000 $BTC, though the company says it retains the flexibility to buy or sell depending on the market.
Bitcoin Mining Firm Shifting Towards AI
The recent $BTC sales are not only about profit-taking. Some mining companies are also moving their money into AI projects and data centers, which are growing very fast right now.
For example, Bitcoin miner Bitdeer sold 1,132.9 $BTC in just one week, selling all the Bitcoin it was holding. The company now wants to grow its business in AI data centers, cloud services, and mining hardware. To support this plan, Bitdeer has already raised $325 million through convertible notes and $43.7 million through equity funding.
Another major miner, Core Scientific, plans to sell around 2,537 $BTC during Q1 of 2026 to help fund its growing AI infrastructure projects.
Why Are Bitcoin Miners Selling $BTC?
Several factors may be driving the selling. Eventually, mining costs have increased due to higher hash rates and mining difficulty, making operations more expensive. At the same time, Bitcoin’s recent drop toward $70K has reduced mining profit margins.
Some miners are also diversifying into artificial intelligence infrastructure, which requires large capital investments.
SwanDesk CEO Jacob King recently said on X that Bitcoin has become a “failed experiment,” saying companies that once promoted Bitcoin are now selling quickly after profits declined.
One by one, all Bitcoin treasury companies will either willingly dump their $BTC or be forced to as prices fall.
— Jacob King (@JacobKinge) February 23, 2026
Data shows companies have reduced their exposure to $BTC by over
37% within the past three months, the largest downturn in history.
Bitcoin is a failed experiment.… pic.twitter.com/zwfYTLB27H
Will Bitcoin Price Drop Ahead?
Some Bitcoin mining companies may sell more $BTC in 2026, which could affect the price. At the same time, rising tension between the U.S., Israel, and Iran is making investors move away from risky assets like crypto.
Earlier this year, heavy miner selling pushed Bitcoin briefly below $60,000. Because miners often sell $BTC to cover costs and upgrades, analysts believe more selling could happen this month.
As of now bitcoin is trading around $$70,191, reflecting a 3% drop in the last 24 hours.