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Public miners sold $1.78 billion of bitcoin in 2026, adding margin pressure

Blockware Intelligence data show publicly listed miners reduced holdings to about 99,000 BTC from 127,000 BTC at the start of the year.

Reported · Written up by our desk · Market Structure

CoinDesk reports that publicly listed Bitcoin miners have become an underdiscussed source of selling pressure in 2026, coinciding with weaker market performance driven by ETF withdrawals and other seller groups. The outlet says miners have unloaded roughly 28,000 BTC this year, which at current prices is valued at about $1.78 billion, based on Blockware Intelligence data.

According to CoinDesk, the contribution matters because price is set at the margin, meaning relatively modest but steady selling can weigh on the market when overall buying interest is weak. The report also notes spot crypto ETF net outflows in the US have exceeded $4.4 billion, and that withdrawals are forcing funds to sell bitcoin holdings.

CoinDesk adds that many large miners are exiting or pivoting toward AI, which has eased network difficulty by about 18% and improved rewards and profitability for remaining operators. It also says analysts point to selling by long-dormant holders and digital asset treasury companies, including Strategy (MSTR).

The report says miners are facing squeezed margins, with the average cost to produce one bitcoin cited at $74,300, and that some are using secured high-voltage electrical capacity to support the shift to AI. CoinDesk attributes the view that early year sales from public miners have contributed to Bitcoin’s poor price performance in 2026 to Blockware Solutions’ research division.

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