Bitcoin mining companies that are publicly traded offloaded more than 40% of their newly mined BTC in March, marking the most significant monthly sell-off since October 2024.
This shift breaks the recent trend of miners stockpiling Bitcoin for long-term corporate holdings, according to an analysis by TheMinerMag, which reviewed data from 15 major mining firms.
The timing of these sales aligns with mounting economic uncertainty. With financial markets under pressure and costs rising across industries, many miners appear to be liquidating their reserves to stabilize their balance sheets. This wave of selling has added to the broader volatility in the crypto market. In March alone, Bitcoin dipped by 2.3%, following a steep correction of over 17% in February, per data from CoinGlass.
The challenges go far beyond price action. Bitcoin miners are grappling with rising energy costs, global trade disruptions, and increasing competition. The landscape is becoming even more difficult as U.S. trade policies ramp up pressure on supply chains. Braiins’ CMO, Kristian Csepcsar, explained that building mining rigs entirely in the U.S. isn’t viable—and newly proposed tariffs could drive up costs for key hardware components and services, further squeezing profitability.
Donald Trump’s proposed tariffs, especially on imported energy and mining gear, are raising red flags across the sector. Energy accounts for a large portion of operational expenses, and added taxes could tip the scale for many U.S.-based operations.
Jaran Mellerud, CEO of Hashlabs, suggested that these tariffs could lead to a shift in mining dominance. With the cost of importing mining machines into the U.S. potentially rising by nearly 25%, suppliers may reroute equipment to regions like Finland, where no such levies exist. In a recent post, Mellerud argued that if these tariffs take effect, mining in the U.S. may become financially unsustainable—paving the way for international competitors to seize a larger share of the market.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/u-s-miners-offload-btc-amid-tariff-fears-and-profit-squeeze/