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In total, these miners have sold roughly 8,000 BTC in 2025, a figure that translates to under a billion dollars at current prices. Importantly, the sales are likely OTC (over-the-counter), minimizing market impact. However, the trend shows increasing sales activity, hinting at mounting financial pressures.

Why Are Miners Selling?

Several factors explain why Bitcoin miners are selling more than ever. The primary catalyst is the Bitcoin halving event in April 2024, which reduced the block reward from 6.25 BTC to 3.125 BTC. This event theoretically cuts miners’ revenue in half, compelling many to sell BTC to cover operational costs.