PANews reported on March 6th that, according to Cointelegraph, publicly traded Bitcoin mining companies have sold off more than 15,000 Bitcoins since October of last year. The EnergyMag's weekly mining newsletter points out that several large mining companies were the main participants in this sell-off, including Cango, which sold approximately 60% of its holdings (4,451 Bitcoins) in February; Bitdeer, which liquidated its entire Bitcoin inventory in January; Riot Platforms, which made multiple sales in December; and Core Scientific, which also planned to sell approximately 2,500 Bitcoins in the first quarter.
MARA Holdings, the largest publicly traded mining company, stated in its latest regulatory filing that it may maintain flexibility and selectivity by buying and selling Bitcoin. This statement has attracted market attention. The company's vice president clarified that the filing allows for flexible sales but does not imply a liquidation of most of its holdings. MARA currently holds over 53,000 Bitcoins, making it the second-largest Bitcoin holder among publicly traded companies, after Strategy. Analysts believe that with shrinking profit margins and increasing debt pressure, mining companies are being forced to re-evaluate their previously commonly used holding strategies.
Bloomberg previously reported that the AI boom has prompted Bitcoin mining companies with a combined holding of over $8 billion to transform their businesses, raising concerns about a market sell-off.
