The People Who Mine Bitcoin Are Selling It Faster Than Ever Here's Why A year ago, miners were hoarding. Now they're dumping. That reversal tells you everything about where the industry actually stands. Public Bitcoin miners sold a record 32,000 BTC in Q1 2026 more than their entire sell-off across all four quarters of 2025, and surpassing the previous record of 20,000 BTC set during the Terra-Luna collapse in 2022. That's not a small adjustment. That's an industry in survival mode. The math is brutal. The weighted average cost to produce one Bitcoin rose to approximately $79,995 in Q4 2025, while Bitcoin spent much of Q1 trading between $68,000 and $70,000 meaning miners were losing roughly $10,000 on every coin they produced. You can't sustain that for long. Hashprice the key metric measuring revenue per unit of computing power sits at around $33 per PH/s per day, placing approximately 20% of the entire mining industry in unprofitable territory. For older machines, it's even worse. The response has been dramatic. Core Scientific sold roughly 1,900 BTC in January and announced plans to liquidate substantially all remaining holdings. Bitdeer reduced its treasury to zero in February But here's the twist nobody's talking about enough. Over $70 billion in AI and high-performance computing contracts have been announced across the public mining sector miners aren't just selling Bitcoin, they're using the proceeds to pivot into AI infrastructure entirely. The miners aren't giving up on the industry. They're changing what industry they're in. $BTC $ETH $ORDI #MinersDumpRecordBtc #WallStreetsFifthGiant #USIranMixedSignals ​