Public Bitcoin Miners Set New Sales Record in Q1 2026
- Publicly traded Bitcoin mining companies sold over 32,000 BTC in Q1 2026, exceeding total sales from all four quarters of 2025.
- This figure surpasses the previous record of 20,000 BTC sold during Q2 2022, amid a market downturn.
- Current hashprice is approximately $33 per petahash/second (PH/s), placing about 20% of miners in unprofitable territory.
- The total Bitcoin held by miners has decreased from over 1.86 million BTC at the end of 2023 to around 1.8 million BTC.
- In contrast, Bitcoin treasury companies like Strategy continue to purchase BTC, with co-founder Michael Saylor indicating ongoing acquisitions.
The significant sales by publicly traded miners reflect tightening business conditions and increased competition within the mining sector, driven by low hashprices and rising operational costs.
In Q1 2026, public miners set a record by selling over 32,000 BTC, highlighting the challenges faced by the industry amidst declining profitability and competition.(Source)
