Bitcoin miners are under severe financial pressure making it necessary for many miners to sell their Bitcoin to fund their business expenses. All of this pressure continues amid a market in which the cryptocurrency is still below USD$80,000, a far cry from its highs earlier this year. Currently depressed transaction fees are already putting mining profits to the squeeze. Meanwhile, a record-high Bitcoin network hash rate compounds their strife.
Multiple mining companies have recently started to sell off their Bitcoin stock. CleanSpark Inc, for example, sold 14.23 BTC on average in March 2025 even though the company’s own operations generated more than 700 BTC that month. The corporation is continuing to grow its sites in Mississippi, Georgia, and Wyoming. This continued growth is a testament to the industry’s long-term vision, despite the ongoing challenging market conditions. As recently as January 2025, DMG Blockchain Solutions Inc. The firm has signaled that it would be willing to divest further if needed. Besides the initial DC infrastructure investment, the company is excited about advancing infrastructure upgrades as they move towards more hydro-based liquid cooling systems.
"Miner margins have been pressured by lower prices, but also with depressed transaction fees, and a record-high Bitcoin network hash rate, which implies higher mining costs, sending their average operating margins down from 53 per cent in late January to 33 per cent today,” - CryptoQuant
Recent data from on-chain analytics firm CryptoQuant shows just how extreme the selling pressure has been. On April 7, miners sold 15,000 BTC, the third-largest daily outflow for 2023. Based on the day’s low price of less than USD$75,000, the sale was worth about USD$1.12 billion. Bitcoin miners are rewarded with Bitcoin for processing new transactions on the blockchain.
Other firms have been forced to go even further to shield themselves from financial headwinds. photo courtesy Core Scientific Bankruptcy — In early 2025, Core Scientific Inc. cut its business by more than half. They bought back their hashrate, sold 3,000 machines to decrease energy usage.
Despite these challenges, some miners are bullish on Bitcoin mining’s future. At this year’s Mining Disrupt conference, I heard many say they were optimistic about the long-term future of the industry.
