Public Companies Sold $8.08 Billion in Bitcoin in 2026, Led by MARA and Riot
Fourteen publicly listed companies have sold about 108,247 BTC in 2026, worth roughly $8.08 billion, according to Lookonchain. MARA Holdings and Riot Platforms account for more than half of the total, with proceeds tied to debt repayment and AI and data center buildouts.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
The Scale of Corporate Selling
Fourteen publicly listed companies sold a combined 108,247 BTC in 2026 through November 10, worth roughly $8.08 billion at the time of the tally, according to on-chain analytics firm Lookonchain. Sources agree on the headline figures, though Lookonchain's tally is built from wallet movements and corporate disclosures, and its own analysis flags that some outflows reflect trading strategies rather than clean spot sales.
MARA Holdings is the largest seller at 40,581 BTC, or about $3.03 billion at an average price of roughly $74,446 per coin. Riot Platforms follows with 20,264 BTC, around $1.51 billion at an average near $73,231. Bitdeer Technologies ranks third with 10,553 BTC valued at about $787 million. Together, MARA and Riot account for roughly 56% of the Bitcoin sold by the group.
Who Is Selling and Why
The list is dominated by Bitcoin miners. Cango sold 7,001 BTC, CleanSpark 5,715 BTC, and Core Scientific 3,374 BTC, with Empery Digital, Keel (formerly Bitfarms), Hut 8 Mining, and HIVE Digital each selling between roughly 3,000 and 3,200 BTC. IREN, Cipher Digital, Sequans and KULR complete the list at lower volumes. Because miners produce new Bitcoin as part of routine operations, some level of selling is a normal feature of their business, and the reporting does not itself establish a change in strategy.
The sales coincide with heavy capital spending on artificial intelligence and data center infrastructure. A BlocksBridge Consulting analysis from August, previously covered by crypto.news, found that nine public miners spent $5.11 billion on capital assets in the first half of 2026, while their reported AI and high-performance computing revenue totaled $341.2 million.
What the Companies Have Said
MARA's third-quarter shareholder letter, published November 9, says the company sold about 26,984 BTC for $1.9 billion in the first nine months of 2026, then sold a further 13,597 BTC at an average near $81,039 after the end of September, generating $1.1 billion. The company used $750 million of those proceeds to repay Bitcoin-backed loans, releasing 17,477 BTC of collateral. Those loans had financed its planned acquisition of Long Ridge, a natural gas power business. MARA says it has cut total debt by $1.4 billion, or 37%, since the start of 2026, and intends to keep monetizing Bitcoin to fund AI infrastructure, possible share repurchases and upcoming debt obligations.
Riot says it sold 20,264 BTC in the first nine months of 2026 for approximately $1.5 billion, mainly to finance data center development. It ended September holding 2,418 BTC, about $202 million, and $748.2 million in cash including restricted funds. The company cites a $9.1 billion data center agreement covering 191 megawatts at its Rockdale, Texas facility and a 15-year lease of 910 megawatts at Corsicana, with roughly $38 billion in expected revenue from contracted agreements over their initial terms.
Interpreting the Figures
The sources differ in framing. Lookonchain's data is presented as a shift among miners from accumulation toward liquidation, while the company disclosures tie most of the sales to debt repayment and infrastructure funding rather than a view on the market. Crypto Briefing also notes that the tally cannot be read as a final accounting: a transfer out of a company wallet may be a sale, but it may equally be collateral being posted, coins moved to a custodian, or a hedge being set up. The two sources also differ slightly on the top-five concentration, with the Crypto.news piece attributing about 56% of sales to MARA and Riot and Crypto Briefing putting the top five at roughly 77.7%.
Crypto Briefing points to Strategy, the treasury-focused firm, as a counterweight that has continued to accumulate Bitcoin while miners sell. With five companies responsible for most of the selling, a change in course by MARA, Riot or Bitdeer would have an outsized effect on the supply picture.
Why It Matters
For Traders
Concentrated selling by a handful of miners means any change in MARA, Riot or Bitdeer's sell pattern could move near-term supply more than the headline total suggests.
For Investors
Miners funding AI and data center buildouts by selling Bitcoin signals a sector-wide shift in capital allocation that bears on long-term holder dynamics.
For Builders
Miner treasury and collateral movements can look like sales on-chain, so monitoring tools should separate custody transfers from genuine spot sales before drawing conclusions.
This article is for information only and is not financial advice. Read the full disclaimer.
