North American publicly traded mining companies sold 32,000 bitcoins in Q1, surpassing the total for the entire previous year and setting a new record for a single quarter.

BlockBeats News, April 17th, according to TheMinerMag data, in the first quarter of 2026, publicly listed Bitcoin mining companies, including MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer, collectively sold over 32,000 BTC, exceeding the total for the entire previous year. This even surpassed the level of sell-off during the 2022 Q2 Terra-Luna crash-induced bear market, setting a new record for a single quarter.

The background of this sell-off is the key metric for measuring miner profitability, the 'hashprice,' falling to a historic low of below $35 per day per PH/s, with around 20% of miners now operating at a loss. Asset management firm CoinShares stated in a report: "Unless the BTC price sees a significant recovery, high-cost miners in the first half of 2026 will capitulate further."