BTC faces selling pressure from miners holding $8B, Bloomberg reports

Bitcoin miners, who collectively hold over $8 billion in BTC, are accelerating sales of their holdings, Bloomberg reported. For years, large-scale miners maintained a business model akin to a conviction, consistently holding onto the BTC they mined. However, this stance has shifted amid the recent boom in artificial intelligence (AI). MARA Holdings (MARA), which holds approximately $4 billion in BTC, recently disclosed a strategy that suggests it may sell its holdings. Other established miners, such as CleanSpark and Riot Platforms, have undergone management changes to pivot their business toward AI computing, while Bitdeer has sold its entire BTC position. Bloomberg explained that this trend differs from past sell-offs, as it is driven by capital reallocation rather than a need for survival.