Publicly traded Bitcoin mining firms sold more than 40% of the coins that they produced in March 2025. That was the most sold since October 2024. The MinerMag, which monitored 15 public miners, provides the data.
These companies changed their previous strategy of holding onto their Bitcoin reserves and started selling aggressively. The action reverses a trend that started after the US presidential election. At that time, miners stocked up on Bitcoin as prices rallied.
Bitcoin miners face tight margins and uncertainty
The plan sought to create company treasuries in digital assets. But March saw a definite about-face. Firms opted for liquidity instead of long-term holdings. The reasons lie to a large extent under market pressure. The price of Bitcoin has remained more than $84,000, yet other circumstances toll in against miners. Hashprice levels are low, reducing profit.
External uncertainty from global trade tensions contributes to the risk-apprehensive atmosphere. These pressure factors might have persuaded firms to liquidate their BTC to generate cash.
October 2024 also witnessed such action. Miners sold in large numbers but scaled down sales as the price of Bitcoin went up during December. That rally led firms such as Riot, Hut 8, and MARA to purchase Bitcoin during the last quarter.
However, the market has dropped nearly 20% since those purchases, erasing some of the gains. Some gaps in the data remain. Bit Digital, Argo, Terawulf, and Stronghold have stopped sharing monthly updates this year.
Industry sees rapid strategy shift in March
Core Scientific no longer reports its reserves, and the analysts are assuming that its holdings are zero. Even so, the sample continues to give an overall perspective of prevailing trends among the industry’s top operators.
The move back into high liquidation implies a conservative approach in the sector. As the price of Bitcoin remains steady, mining companies are experiencing narrowing margins and volatile conditions. The reversal indicates the speed with which sentiment shifts. In a matter of a few months, strategies went from buying to aggressive selling.
The trend may persist if the market environment is unchanged. The margin for holding assets and remaining solvent is thin. Miners need to be nimble in an industry that is rapidly changing. March, at least for the time being, appears to be the month of significant change, a departure from recent sentiment.
