Listed Bitcoin mining companies began liquidating their BTC again in March, a significant change from the strong HODL trend in previous months. This marks the highest level of monthly liquidations since October 2024.
Brief overview
- Bitcoin Mining Firms Resume Selling Their BTC Stocks: A Bear Market Signal?
- Bitcoin Mining: Public Companies Stop Storing BTC
- Arizona Moves Toward Regulation
Bitcoin Mining Firms Resume Selling Their BTC Stocks: A Bear Market Signal?
According to information, publicly traded Bitcoin mining companies appear to have resumed selling their BTC from March 2025.
This is a significant shift in strategy compared to the active HODL policy that companies followed during the presidential election months amid the BTC bull run.
Specifically, approximately 15 listed mining companies collectively sold more than 40% of the total BTC mined in the past month.
CleanSpark , one of the leading BTC mining companies in the US, has officially announced a change in its BTC storage strategy, which began in mid-2023.
In this regard, CleanSpark CEO Zach Bradford commented:
“With our Bitcoin holdings exceeding 12,000, valued at approximately $1 billion, we believe the time is right to transition from the near 100% custody strategy adopted in mid-2023 to using a portion of our monthly production to support operations. This is a significant strategic difference compared to many of our peers who continue to rely on share dilution to fund operating expenses or increased leverage to increase Bitcoin holdings.
We view our approach as focused and strategic rather than ideological, especially now that we have reached our current size. While we remain committed to Bitcoin as a long-term asset, we believe that a more effective way to increase shareholder value is to strike a balanced approach between monetizing new production and creating long-term assets.”
Other companies such as HIVE, Bitfarms and Ionic Digital have already sold more than 100% of their BTC mined in March.
Bitcoin Mining: Public Companies Stop Storing BTC
The shift from HODLing BTC to selling BTC suggests that miners may be responding to lower profits due to low hashrate prices and growing trade war uncertainty.
Moreover, the resumption of Bitcoin sales by public mining companies also points to the highest monthly liquidation level since October 2024.
In fact, liquidation reports reached similar highs last October, but the selling slowed significantly due to the rise in BTC prices, a trend that continued through the end of the year.
With Bitcoin's hashrate near cycle lows and block transaction fees down to 1.1%, mining companies appear to be turning to their BTC holdings again to support operations and increase liquidity.
The increase in BTC sales by these companies may also be due to rising capital expenditures in the sector.
Various major mining companies have announced infrastructure expansions, ASIC upgrades, or diversification into the HPC sector, all of which require capital in a more challenging post-halving environment.
Arizona Moves Toward Regulation
Recently, regarding Bitcoin mining, there has been discussion about the Arizona Senate approving HB 2342, a bill that would protect miners.
The vote was 17 in favor, 12 against. The bill now goes to the governor for final approval.
Specifically, the new law, HB 2342, aims to protect anyone mining BTC or operating blockchain nodes in their own homes from any zoning and use restrictions imposed by cities and counties.
Thus, in Arizona, the emphasis is not so much on the company as on protecting individual freedoms regarding mining activities from local authorities.
Source: cryptonews.net
