According to on-chain analytics platform Lookonchain, 14 publicly traded companies have sold a combined 108,247 Bitcoin in 2026, worth approximately $8.08 billion. Major cryptocurrency mining companies accounted for much of the selling.
MARA Holdings, formerly Marathon Digital, led the sell-off, selling 40,581 BTC for approximately $3.03 billion. Riot Platforms followed, selling 20,264 BTC worth around $1.51 billion. Other notable sellers included Bitdeer Technologies, Cango, and CleanSpark.
14 public companies have sold 108,247 $BTC ($8.08B) in 2026!
MARA sold 40,581 $BTC ($3.03B) at an average price of $74,446, while Riot Platforms sold 20,264 $BTC ($1.51B) at an average price of $73,231. https://t.co/XnjY0iGNpr
— Lookonchain (@lookonchain) November 10, 2026
The corporate selling, combined with broader macroeconomic changes and outflows from US spot Bitcoin pexchange-traded funds (ETFs), has added pressure to the market. Bitcoin’s price has consequently fallen to the $74,000–$75,000 range.
Read also: MARA Buys 1,000 Bitcoin to Rebuild Holdings After Major Q1 Sales
Crypto community question the intent behind the sale
Although selling more than $8 billion in Bitcoin within a year may concern retail investors, market data suggests the move is largely driven by business and financial needs rather than a loss of confidence in Bitcoin.
A Polygon believer on X, @Crypto man questioned whether the large-scale selling by MARA and Riot was simply profit-taking or a way to cover operational expenses.
Over $8B dumped by public miners in 2026 alone 📉 MARA and Riot leading the sell-off. Classic profit taking or operational coverage?
— crypto man prayagraj (@Crypto_man_amy) November 10, 2026
The main reason appears to be operational funding. Mining companies are selling Bitcoin at average prices above $73,000 to repay upcoming convertible debt obligations and finance their expansion into artificial intelligence (AI) computing infrastructure.
An AI enthusiast on X, @Matt also highlighted the scale of the transactions, noting that MARA alone managed to sell more than 40,000 BTC at an average price of $74,000.
mara alone sold 40k btc at an average of 74k
— matt (@thybead) November 10, 2026
By selling their Bitcoin reserves at these prices, mining companies can convert their digital asset holdings into cash to purchase physical infrastructure and high-performance computing equipment. This allows them to pursue opportunities in the growing AI industry.
Read also: Bitplanet Becomes South Korea’s First Public Firm to Buy Bitcoin Under Full Regulation
MicroStrategy’s Bitcoin buying partly offsets miner selling
While mining companies are selling Bitcoin to raise funds, other public companies continue to accumulate the asset. MicroStrategy remains a major buyer, continuing its aggressive Bitcoin accumulation strategy. By late October 2026, the company held more than 848,000 BTC.
Its continued purchases provide a counterweight to the selling pressure from mining companies, helping absorb some of the Bitcoin entering the market as miners redirect their capital toward AI infrastructure.
However, the volume of corporate Bitcoin sales can also affect other cryptocurrencies, creating broader market pressure. Foobar on X, questioned why Ethereum was also falling when the major corporate selling involved Bitcoin rather than ETH.
so why is eth dumping when btc is being sold 😩
— FooBar (@Foo_Bar1) November 10, 2026
The reaction highlights the strong correlation between Bitcoin and other cryptocurrencies. When major institutional holders sell billions of dollars in Bitcoin, the resulting liquidity pressure and algorithmic trading activity can affect the wider crypto market.
As a result, altcoins such as Ethereum can experience price declines even when they have no direct connection to the mining companies’ balance sheets or their decisions to expand into AI infrastructure.
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