Leading miners sell Bitcoin as market plunges
The decline in Bitcoin (BTC) price has changed the course of the crypto industry. Companies are either shutting down Bitcoin mining operations or pivoting to artificial intelligence (AI).
Bitcoin mining is the process of using specialized computing hardware to solve complex cryptographic puzzles to verify and add blocks containing BTC transactions to the chain. In return, miners receive rewards in the form of newly minted BTC.
Once a profitable enterprise, Bitcoin mining is now finding fewer players due to higher energy costs, rising mining difficulty, and reduced mining reward.
The pivot towards AI isn’t a difficult decision, given the fact that Bitcoin miners already have a ready infrastructure for the transition.
Related: Popular Bitcoin miner sells entire treasury
MARA open to Bitcoin sell-off
MARA Holdings (Nasdaq: MARA), the world’s largest publicly listed Bitcoin miner in terms of holdings, is now willing to sell the BTC on its balance sheet.
According to a 10-K filing with the Securities and Exchange Commission (SEC) on March 2, MARA Holdings has revised its 2026 policy as per which it is open to selling Bitcoin held on its balance sheet.
If Bitcoin’s price remains low for a long period or declines further, the value of the company’s BTC holdings could decline significantly and affect its balance sheet and liquidity, MARA said.
Bitcoin mining is its major source of revenue and a long period of Bitcoin price decline could make it difficult for MARA to cover operational expenses, service debt, or fund strategic initiatives, it added.
MARA said it could be required to repurchase outstanding convertible senior notes in 2027 and it would then require a significant amount of cash.
During such liquidity requirements, adverse market conditions, or financial pressures, it could sell a portion or all of its Bitcoin holdings, MARA said.
It is a sharp reversal from the earlier policy as per which MARA held the Bitcoin it mined as a long-term investment vehicle, but mixed financial results have forced the firm to consider a Bitcoin sell-off.
As of Dec. 31, 2025, MARA held approximately 53,822 Bitcoin.
More News:
Core Scientific
Core Scientific (Nasdaq: CORZ), another Bitcoin mining firm, revealed in its 10-K filing with the SEC that it expects to sell most of its Bitcoin holdings this year.
The firm said it “currently expects to monetize substantially all” of its Bitcoin reserves in 2026 to raise capital for its high-density colocation strategy. The goal is to deploy the capital toward expanding its AI operations.
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