Bitcoin mining public company, Selling more than 40% of March mining volume...Profit pressure intensifies

Mining companies facing cash flow pressure due to halving and Bitcoin price decline (Source: Reuters)

It was found that 15 listed Bitcoin mining companies sold more than 40% of the Bitcoin mined in March on the market. Cointelegraph, citing data from cryptocurrency mining specialized media TheMinerMag, reported that this is the largest monthly selling since October 2024.

This sale is evaluated as a shift from the holding-centered strategy that continued after the halving. TheMinerMag analyzed, “Amid growing macroeconomic uncertainty, mining companies liquidated some of their held coins to supplement inadequate cash flow,” and “such sales can increase short-term selling pressure in the market, raising Bitcoin price volatility.”

Due to the nature of listed companies that need to meet operating costs and investor demands, a certain amount of BTC sale is considered an inevitable choice, but there is increasing interest in how the market will interpret the shift from a holding strategy to a cash-out strategy. Especially in a structural situation where mining profitability decreases after the halving, their selling patterns could suggest important market directions.