Listed Bitcoin miners have sold 28,000 BTC worth $1.78 billion this year, adding to market sell pressure.

According to CoinDesk, data from Blockware Intelligence shows that publicly traded Bitcoin miners held a combined total of 127,000 BTC at the beginning of the year, which has now declined to 99,000 BTC, representing approximately 28,000 BTC sold year-to-date—equivalent to roughly $1.78 billion at current prices. Analysis indicates that although this selling volume is smaller than the over $4.4 billion net outflow from U.S. spot Bitcoin ETFs, sustained and consistent marginal selling pressure has often been underestimated in a market characterized by downward trends and weak buying demand. BTC has declined 27% since the beginning of 2026, underperforming major assets including the S&P 500. Additionally, as mining profitability narrows—with the current average production cost per BTC at approximately $74,300—an increasing number of miners are shifting their focus toward AI computing infrastructure. Meanwhile, the overall network mining difficulty has dropped by about 18% from its November peak, increasing mining rewards for remaining miners by approximately 18%, reshaping the competitive landscape of the industry.