Bitcoin Miners Add Over $1.8B Selling Pressure Amid Price Decline

Bitcoin's price has fallen 27% since the start of 2026 to around $64,000. Publicly listed miners have added another source of selling pressure alongside ETF outflows and treasury sales. According to Blockware Intelligence data, these miners held 127,000 BTC at the beginning of the year but their combined holdings have dropped to 99,000 BTC.

This decline means they sold about 28,000 BTC worth roughly $1.78 billion at current prices. The sales came as Bitcoin underperformed major assets like the S&P 500 Index.

The situation is compounded by rising mining costs. Public miners now face an average Bitcoin production cost of about $74,300, which is above the current market price. This puts further pressure on their operating margins.