From miners to Digital Asset Treasury (DAT) firms… Bitcoin selling pressure intensifies among U.S.-listed companies

Bitcoin (BTC) selling pressure is intensifying, led by U.S.-listed companies including Digital Asset Treasury (DAT) firms.

According to CoinDesk on the 1st (local time), Nasdaq-listed Empery Digital said it sold 370 bitcoins for $24.7 million that day. The average selling price was $66,632 per bitcoin.

Following the sale, Empery Digital’s bitcoin holdings fell to 2,989. The company began accumulating bitcoin reserves in July last year and at one point held about 4,000 bitcoins. CoinDesk reported, “(Empery Digital) used part of the proceeds from the bitcoin sale to fully repay outstanding long-term debt,” adding, “The company’s share price is currently down about 75% from last year’s peak of $15.8.”

Another Nasdaq-listed company, Genius Group, also recently sold all 440 bitcoins it held. Genius Group said it “plans to increase its bitcoin holdings again when market conditions become more favorable.”

Riot Platforms, the largest bitcoin mining company in the U.S., has also recently joined the selling. According to Lookonchain, Riot Platforms transferred about 500 bitcoins to an external address that day, worth $34.13 million at current prices.

Riot Platforms previously sold $200 million worth of bitcoin over about two months from November to December last year. CoinDesk said, “Riot Platforms once held more than 19,000 bitcoins, but its current holdings are around 17,500.”