Bitcoin mining companies listed on the U.S. stock exchange seem to be abandoning their holding policy. This is due to the evident deterioration of conditions for the flourishing of the business in the North American country. This could become a clear bearish signal for the price of BTC in the short term.
According to a report, the 15 largest mining companies on Nasdaq sold 40% of their production during the month of March. This is the largest sell-off in the sector since October 2024. In fact, some of the companies with the greatest presence in this industry sold 100% of their production during March.
This represents a clear signal that the BTC holding strategy does not seem to be the most convenient in the current context. The sanctions policy threatens to increase the costs of ASIC equipment by between 24% and 36%. According to a recent study by CriptoTendencia, mining margins could suffer a significant decline. This would make conditions much more unbearable than they currently are for these companies.
In any case, since March, conditions have forced Bitcoin mining companies to liquidate part of their production to cover operating costs. This raises fears that as conditions worsen, miners may be forced to liquidate not only their production but also part of their reserves.
Bitcoin mining companies collectively sold 40% of their production in March: TheMinerMag
Is the U.S. Bitcoin mining industry facing a crisis?
Tariffs against some of the countries from which Chinese mining equipment is imported to the U.S. will begin in July. At that time, new batches of ASIC equipment will have costs of up to 36%, complicating the outlook for an industry that is already facing tight margins.
If these companies are now liquidating a large part of their production, tariffs will force them to make radical decisions. It is important to mention that without purchasing equipment, these firms are doomed to bankruptcy. Meanwhile, the second option at hand is to establish themselves outside the United States.
Meanwhile, a third option is to consume their funds, something that started in March. According to the cited report, companies like Hive, Bitfarms, and Ionic Digital sold 100% of their production during the past month. For its part, CleanSpark emphasizes that it is time to halt its extreme accumulation policy, which began in mid-2023.
The CEO of this company, Brad Zachford, emphasized that they have about 12,000 bitcoins in their portfolios. This is a figure that inspires confidence to finance operations, instead of raising capital through stock dilution or issuing another form of debt.
This trend will likely advance among Bitcoin mining companies as market conditions tighten in the sector.
