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Quick market read from this story
Publicly listed Bitcoin miners sold over 15,000 BTC since October
Companies like Cango and Riot Platforms have sold significant BTC holdings to reduce debt and improve liquidity
Miners are diversifying into AI projects and data centers, selling BTC to fund these ventures
Increased mining costs and recent price drops are reducing miner profit margins.
Deep Dive
Publicly listed Bitcoin mining companies have collectively sold over 15,000 BTC since October, a period marked by Bitcoin's peak near $126,000. Several companies are planning further sales in early 2026 as Bitcoin struggles to maintain levels above $70,000.
Notable sales include Cango, which divested 4,451 BTC in February to address its $407 million debt and strengthen its financial position. Riot Platforms sold 1,818 BTC in December, reducing its holdings and indicating potential for further significant sales in 2026 to enhance liquidity and cover operational expenses. MARA Holdings, holding over 53,000 BTC, maintains flexibility to buy or sell based on market conditions.
Beyond profit-taking, some mining firms are reallocating capital towards the rapidly growing AI sector. Bitdeer sold its entire holding of 1,132.9 BTC to focus on AI data centers, cloud services, and mining hardware, having secured $325 million in convertible notes and $43.7 million in equity funding for this expansion. Similarly, Core Scientific intends to sell approximately 2,537 BTC in Q1 2026 to fund its expanding AI infrastructure projects.
Several factors contribute to these sales. Increased mining costs due to higher hash rates and difficulty, coupled with Bitcoin's recent price decline towards $70,000, have squeezed profit margins. The strategic diversification into AI infrastructure, which demands substantial capital, is another key driver. Some industry figures, like SwanDesk CEO Jacob King, have expressed skepticism about Bitcoin's long-term viability, suggesting a trend of companies reducing their BTC exposure.
One by one, all Bitcoin treasury companies will either willingly dump their BTC or be forced to as prices fall.
Data shows companies have reduced their exposure to BTC by over 37% within the past three months, the largest downturn in history.
Bitcoin is a failed experiment.
Potential further BTC sales by mining companies in 2026 could impact market prices. Geopolitical tensions are also causing investors to move away from riskier assets like cryptocurrencies. Historically, significant miner selling has preceded price drops, and analysts anticipate continued selling pressure as miners cover costs and fund upgrades. Bitcoin is currently trading around $70,191, reflecting a 3% decrease in the last 24 hours.
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Bitcoin price fell 3.29% to $70,355 after touching $74,000. $471 million in crypto derivatives were liquidated in 24 hours, with $348 million from short positions. Geopolitical tensions between the US, Israel, and Iran are impacting Bitcoin's correlation with gold. Key support level for Bitcoin is between $70,000-$71,000; a break below could lead to $67,500.
Chinese crypto whale Wei Zhao predicts Bitcoin could reach $500,000 by year-end. AI agents may adopt crypto wallets as default payment for automated transactions. Coinbase and Circle are developing infrastructure for AI-driven crypto transactions. SpaceX and xAI are reportedly increasing involvement with Bitcoin and blockchain.
Intercontinental Exchange (ICE) has invested in OKX at a $25 billion valuation. OKB price surged nearly 30% following the news of the ICE investment. The investment signals potential institutional integration and expanded trading services. OKB is attempting a structural breakout above the $95-$100 level, targeting $120-$130 resistance.
Bitcoin and Ethereum ETFs experienced $320 million in outflows on March 5. Bitcoin spot ETFs saw $228 million in outflows, with BlackRock's IBIT leading withdrawals. Ethereum spot ETFs recorded $90.94 million in net outflows. BlackRock's ETHA ETF was an outlier, attracting $30.25 million in inflows.
Bitcoin exchange supply drops to 1.17 million BTC, lowest since December 2017. Non-empty Bitcoin wallet count reaches an all-time high of 58.45 million. Bitcoin price is testing the $74,000 resistance zone, with potential to retest $100,000 if trendline is reclaimed. On-chain data suggests accumulation phase with potential for a supply-driven rally.
XRP holding strong support at $1.40 indicates potential for a significant breakout. Increased whale accumulation of 1.3 billion XRP in 48 hours suggests preparation for a market shift. A confirmed reclaim of the $1.80-$2.00 resistance zone could propel XRP towards the $3 target. Moscow Exchange is considering cash-settled XRP futures following Russia's regulatory shifts.
BlockDAG (BDAG) network officially launched with trading live on major exchanges. BlockDAG raised over $452 million in early phases and aims for a $1.2 billion market cap. Polkadot (DOT) price increased 41% with a planned 50% supply cut in March 2026. Pippin price prediction shows potential for 300% gains after a 73% increase.
XRP liquidity on Binance has dropped significantly to 0.097, increasing volatility risk. Shiba Inu burn rate surged 53,954% in 24 hours, coinciding with a 6.35% price increase. Rockefeller Capital Management increased its MicroStrategy (MSTR) stake by 146% to 198,283 shares.
Short seller Culper Research initiates a bearish position against ETH and BitMine (BMNR). Culper cites Ethereum's December 2025 Fusaka upgrade as impairing ETH tokenomics and reducing validator yields. Report estimates Ethereum fees have dropped approximately 90% post-upgrade. Vitalik Buterin has sold nearly 20,000 ETH this year, adding to the bearish narrative.
Analyst PlanC suggests Bitcoin's correction may be over, with the price bottoming near $60,000 after a 52% drop. A long-term Bitcoin-to-gold ratio analysis indicates a potential 14-month cycle low, aligning with historical patterns. Large BTC outflows from Bitfinex were likely internal treasury adjustments, not indicative of widespread investor withdrawals. Market momentum may shift as economic data turns supportive, suggesting the start of the next bull market phase.
OKB needs to close above $104 (200-D EMA) to sustain uptrend, targeting $124. Humanity Protocol (H) has surpassed 200-D EMA and other EMAs, eyeing $0.2. KITE Coin shows strong buyer dominance, with futures open interest surging 35% to $102.48 million. Bitcoin pulled back 2% from the 50-day EMA, trading below $71,000.
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Dubai's VARA regulator has ordered KuCoin to cease operations in the region. KuCoin is accused of operating without the necessary virtual asset service licenses. This follows a similar prohibition against KuCoin's European arm by Austria's financial regulator. KuCoin is a top 10 exchange by trading volume.
US bank regulators confirmed tokenized securities will have the same capital requirements as traditional ones. The rule is technology-neutral, meaning blockchain type does not alter capital treatment. Tokenized securities can now be used as financial collateral under existing legal standards. Banks must meet strict legal, operational, and AML compliance standards for tokenized securities.
US crypto market evolving with gradual structural changes, not just speculation. Institutional participation is expanding with firms exploring custody and tokenized instruments. Blockchain development continues to accelerate, improving efficiency, security, and scalability. Investor attitudes are shifting towards a more analytical and long-term approach.
Spot Bitcoin ETFs experienced $227.9 million in net outflows on March 5. Spot Ethereum ETFs also saw significant outflows totaling $90.9 million. Institutional demand for Bitcoin ETFs shows volatility, with major withdrawals from BlackRock and Fidelity. The shift in ETF flows coincides with Bitcoin trading near the $71,000 level.
Vancouver city staff recommend against holding Bitcoin in municipal reserves. Staff determined Bitcoin is not an allowable investment under the Vancouver Charter. A final decision on the Bitcoin reserve proposal is pending a March 10 council vote. The proposal was initially introduced by Mayor Ken Sim in late 2024 to hedge against inflation.
Vancouver mayor's proposal to invest city reserves in bitcoin blocked by city and provincial law. Vancouver Charter and Municipal Finance Authority Act restrict city investments to government debt, bank instruments, and traditional assets. Bitcoin is explicitly excluded as an allowable investment asset for the City of Vancouver. A separate question remains on whether Vancouver can accept bitcoin for taxes/fees if immediately converted to CAD.
ETFs trade throughout the day like stocks, offering flexibility. Index funds execute trades only once daily at the closing NAV. ETFs generally offer slightly lower expense ratios and greater tax efficiency. Index funds often have higher minimum investment requirements than ETFs.
Dubai regulator VARA orders KuCoin entities to cease unlicensed virtual asset activities. KuCoin is not authorized to serve Dubai residents and has been warned against misrepresenting its licensing status. This action follows a similar regulatory action in Austria where KuCoin EU faced a business ban due to compliance failures.
Vancouver city staff recommended cancelling the plan to add Bitcoin to city reserves. Local law prohibits the city from investing public funds in Bitcoin, deeming it not an 'allowable asset'. The proposal, introduced by Mayor Ken Sim in November 2024, aimed to study accepting crypto payments and holding Bitcoin reserves.
Total crypto market cap decreased by 1.7% to $2.41 trillion in 24 hours. Bitcoin holds near $71K, down 1.9% daily but up nearly 5% weekly. Ethereum trades around $2,081, down 1.8% in 24 hours. Market sentiment remains cautious with the Fear & Greed Index at 25 (fear zone).
IREN orders 50,000 Nvidia GPUs and files for a $6 billion offering to fund AI cloud infrastructure expansion. Major Bitcoin miners like TeraWulf, Cipher Mining, and Bitdeer are pivoting from pure mining to AI data centers. Pepeto presale has raised $7.5M and is developing a full exchange with cross-chain bridge, zero-tax trading, risk scoring, and portfolio tracking. Bitcoin Hyper presale has raised $31.5M but faces competition from established L2 solutions.
XRP holders are selling at a loss as SOPR drops below 1.0 XRP price is trading around $1.41, failing to break $1.45 resistance Speculation exists around potential partnership between X Money and Cross River Bank
Signal context only. Validate with price action, liquidity, and risk limits before taking a position.
