Bitcoin Mining: Listed Companies to Increase BTC Sales in March 2025

Publicly listed Bitcoin mining companies began liquidating their BTC again in March, reversing the HODL trend seen in previous months. The move resulted in the highest monthly liquidation rate since October 2024.

Summary

• Bitcoin Mining Farms Resume Selling Their BTC Reserves: A Bear Market Signal?
• Bitcoin Mining: Public Companies Stop Holding BTC
• Arizona Moves Ahead on Regulation

Bitcoin Mining Farms Resume Selling Their BTC Reserves: A Bear Market Signal?

According to available data, publicly traded Bitcoin mining companies have apparently resumed selling their BTC since March 2025.

This is indeed a significant turnaround from the strong HODL strategy that was implemented during the presidential election months when BTC was bullish.

Specifically, approximately 15 publicly listed mining companies collectively accounted for more than 40% of the total BTC mining volume last month.

CleanSpark , one of the leading BTC mining companies in the US, has officially announced a review of its BTC storage strategy, which began in mid-2023.

In this regard, CleanSpark CEO Zach Bradford noted:

“With our Bitcoin holdings now exceeding 12,000, valued at approximately $1 billion, we believe the time is right to reverse the near 100% ownership strategy adopted in mid-2023 and return to using a portion of our monthly mining output to support operations. This represents a significant strategic difference from many of our peers who continue to rely on share dilution to fund operating expenses or on increased leverage to grow their Bitcoin reserves.

We view our approach as purposeful, strategic, and not ideological, especially now that we have reached our current size. While remaining committed to Bitcoin as a long-term asset, we believe that a more effective way to increase shareholder value is to strike a balanced approach between monetizing new production and creating long-term assets.”

Other companies such as HIVE, Bitfarms and Ionic Digital have already sold more than 100% of their BTC mined in March.

Bitcoin Mining: Public Companies Stop Holding BTC

The change in trend from HODL BTC to selling BTC suggests that miners may be reacting to a squeeze on profits between low hashrate levels and growing uncertainty in the trade war.

Moreover, the recovery in Bitcoin sales by public mining companies also points to the highest level of monthly liquidations since October 2024.

In fact, liquidation reports reached similar peaks last October, but the selling slowed significantly due to the rise in BTC prices and continued through the end of the year.

With Bitcoin's hashrate near cycle lows and block transaction fees falling to 1.1%, mining companies appear to be turning to their BTC reserves again to support operations and increase liquidity.

The increase in BTC sales by these companies may also be due to rising capital expenditures in the industry.

Various major mining companies have announced infrastructure expansions, ASIC upgrades, or diversification into the high-performance computing sector, all of which require capital in a more challenging post-halving environment.

Arizona Moves Forward on Regulation

Recently, regarding Bitcoin mining, there has been discussion about the Arizona Senate approving bill HB 2342, which would protect miners.

The vote was 17 in favor and 12 against. The bill has now been submitted to the governor for final approval.

Specifically, the new law, HB 2342, aims to protect anyone mining BTC or running blockchain nodes in their homes from any zoning and use restrictions imposed by cities and counties.

Thus, in Arizona, the goal is not so much the companies themselves, but rather protecting the rights of individuals in relation to mining from local authorities.

Source: cryptonews.net