Bitcoin: $8 Billion in BTC Sold as Publicly Traded Companies Sound the Alarm

Fourteen publicly traded companies have sold or transferred approximately 108,247 bitcoins since January 2026, with an estimated value of $8.08 billion. According to data published by Lookonchain on November 10, MARA and Riot Platforms alone account for 56.2% of the total. Major bitcoin miners dominate this movement, while several companies use their reserves to repay their debts and finance their development in artificial intelligence.

MARA and Riot Dominate Bitcoin Sales in 2026

Publicly traded companies are massively mobilizing their bitcoin reserves. According to Lookonchain, fourteen companies have recorded sales or movements estimated at $8.08 billion since the start of the year.

The phenomenon notably accompanies the shift of bitcoin miners towards artificial intelligence, with several groups seeking new sources of financing. MARA Holdings largely occupies the first place. The American miner sold 40,581 BTC for about $3.03 billion, at an average price close to $74,446.

Riot Platforms follows with 20,264 BTC, representing about $1.51 billion. Its average selling price reaches $73,231. The two companies total 60,845 BTC. Bitdeer comes third with 10,553 BTC, valued at $787 million. Cango follows with 7,001 BTC, about $522 million, ahead of CleanSpark and its 5,715 BTC, valued at $426 million.

These five companies concentrate 84,114 BTC, nearly 78% of the recorded total. Other companies also appear in the ranking: Core Scientific with 3,374 BTC, Empery Digital with 3,170, Keel/Bitfarms with 3,169, and Hut 8 with 3,102.

HIVE Digital, IREN, Cipher Digital, Sequans, and KULR complete the list. However, be cautious with the figures. Lookonchain includes estimates of on-chain outflows, particularly at Bitdeer. For CleanSpark, 3,654 BTC correspond to deliveries related to options or trading strategies. Therefore, not all these operations constitute confirmed spot sales.

Why MARA Sold More Than 40,000 BTC

MARA’s latest financial results help to understand part of these sales. In its report published on November 9, the company confirms having sold 26,984 BTC between January and September, generating about $1.9 billion.

After September, it sold an additional 13,597 BTC, at an average price of about $81,039. This last operation brought in $1.1 billion. MARA used $750 million to fully repay loans secured by bitcoin. The repayment released 17,477 BTC previously locked as collateral.

The company has thus reduced its debt by $1.4 billion since January, or 37% of its initial debt. Riot pursues a similar strategy. The group sold 20,264 BTC during the first nine months of the year, mainly to finance the development of its data centers.

This transformation notably relies on its power infrastructure. In August, Riot had already signed a $9.1 billion deal to provide computing capacity to an AI lab. Its quarterly report also indicates the repayment of a $200 million credit line with Coinbase. As of September 30, Riot held only 2,418 BTC. The contrast with MARA remains significant. The latter still held 34,012 BTC at the same date, before its new October sales.

Listed Companies Change Their Bitcoin Strategy

For several years, some miners favored accumulating the bitcoins produced. Reserves were a way to benefit from a potential increase in BTC. In 2026, several groups adopt a more flexible approach. They sell part of their production and use their reserves to finance investments or reduce their debt.

At MARA, the official strategy now includes the possibility of selling bitcoins already held on the balance sheet, no longer only those from mining. The company also plans to use its resources to develop AI infrastructures, finance new projects, and possibly buy back its own shares.

Riot also focuses its efforts on data centers. However, Lookonchain’s figures do not allow a direct evaluation of the current selling pressure on the market. The 108,247 BTC correspond to operations carried out or estimated over several months.

The data do not prove either that all listed companies are abandoning bitcoin. Several continue to hold significant quantities. The change mainly concerns the use of their reserves.

This evolution matches a transformation already observed in the sector, where Bitcoin miners’ stocks benefit from their growing exposure to artificial intelligence. For MARA and Riot, the accumulated bitcoins also become a source of financing. Their next financial publications will show whether sales continue at the same pace.