Bitcoin Miners Sell $1.78 Billion Worth of BTC Due to High Production Costs

Publicly traded Bitcoin miners have been selling their holdings in large numbers due to high production costs exceeding the market price of Bitcoin. In 2026, about 28,000 BTC worth around $1.78 billion were sold as a result. The total holdings of these miners dropped from 127,000 BTC to 99,000 BTC, representing a 22% decline.

The main reason behind this sell-off is the significant increase in production costs, averaging $74,300 per BTC. This, combined with a 27% price drop, has forced approximately 20% of miners to operate at a loss.

In response, many miners are shifting their focus towards AI and high-performance computing data centers, leveraging their existing infrastructure for more stable profits.