Bitcoin News
By Julie Binoche
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Some Miners Still Stacking Sats. Not everyone panicked. ABTC, the mining arm of Hut 8, went the opposite direction and kept stacking.
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Private Operators Still Printing Profit. Private miners with ultra-cheap power sources kept humming along.
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Public Bitcoin miners sold hard in early 2026. Over 32,000 BTC left their wallets in the first quarter alone, more than they offloaded during all of 2025.
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Marathon, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer all joined the exodus. They didn't have much choice.
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It's a diverging landscape. Some miners are bleeding Bitcoin. Others are hoarding it.
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The split basically comes down to cost structure and access to capital. If you can mine profitably at current hashprice levels, you hold. If you can't, you sell. Simple as that.
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Private miners with ultra-cheap power sources kept humming along. Operators tapping flared natural gas and other low-cost energy stayed profitable even as hashprice cratered.
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Bitdeer made a sharp pivot. The company used to hold Bitcoin like a reserve asset. Not anymore.
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Riot Platforms took a similar path but with a twist. The company offloaded roughly $200 million worth of Bitcoin, using the proceeds to fund operations and bankroll expansion…
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The contrast with ABTC is stark. While Riot and Bitdeer sell to fund new ventures, ABTC keeps accumulating and expanding hashrate without liquidating reserves.
11 / 15
Hashprice staying low changed everything. When revenue per hash sits near record lows for months, miners can't just wait it out. They need cash flow.
12 / 15
The operational data from Bitdeer shows how fast things moved. A 430% production increase in one year is wild. Scaling self-mining hash rate to 63.
13 / 15
Private miners kept a lower profile but probably fared better on a per-hash basis. Access to flared natural gas and other stranded energy sources gave them structural cost…
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Software optimization became a bigger focus across the industry. Miners looked for ways to boost efficiency without massive capital expenditures on new hardware.
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The 32,000 BTC sold in Q1 2026 represents a significant shift in miner behavior. For years, the narrative was "miners are long-term holders" and "miner selling is bullish because…
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