Bitcoin Miners Sold $1.78 Billion of BTC This Year, Adding to Downside Pressure
Summary
- Bitcoin mining companies sold about 28,000 Bitcoin this year, worth roughly $1.78 billion, adding to downside pressure on the market.
- Bitcoin has fallen about 27% this year, marking what CoinDesk described as "the worst performance among major assets this year."
- As the average mining cost for one Bitcoin climbed to $74,300, mining companies are shifting their business focus toward artificial intelligence (AI).
Forecast Trend Report by Period
Bitcoin miners have sold nearly $1.8 billion worth of the cryptocurrency this year.
CoinDesk, citing Blockware Intelligence data, reported on Aug. 12 that Bitcoin mining companies have sold about 28,000 tokens so far this year. At current prices, that is worth about $1.78 billion.
The selling comes amid a crypto bear market. Bitcoin has fallen about 27% this year, which CoinDesk described as the worst performance among major assets in 2026.
Blockware Solutions said miners' sales have been a major source of downside pressure on the market this year. It added that selling by publicly traded mining companies has not received enough attention, even though it has weighed on Bitcoin's weak price performance.
Bitcoin miners are also accelerating efforts to shift their business models. CoinDesk said the average cost of mining one Bitcoin has risen to $74,300, leaving many operators facing weaker profitability. More companies are therefore turning to artificial intelligence.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul