BTC Miners Continue Selling Spree Amid Prolonged Bear Market Pressure
Bitcoin miners are facing pressure and it seems they're offloading their BTC holdings. MARA, which reported $600 million in losses in Q2 but still holds over $2.3 billion in BTC, deposited 200 units to NYDIG on Thursday evening. Riot Platforms also used the same platform to deposit another 381 BTC (worth $24.5 million) around the same time.
This behavior from MARA and Riot comes just a month after reports claimed that BTC miners had disposed of a record 32,000 units in the first quarter of 2026, which triggered a decline in the blockchain's hash rate. Smaller BTC miners are also being affected by the prolonged bear market, leading some to go out of business.
However, there is a positive note: a solo miner recently solved the puzzle and secured the 3.125 BTC prize, worth around $200,000 at that time.