TL;DR:
- Bitcoin faces renewed selling pressure: MARA deposited 200 BTC and Riot Platforms another 381 BTC on the NYDIG platform.
- Miners had already liquidated a record 32,000 Bitcoins in the first quarter of 2026, triggering a drop in the network’s hash rate.
- Poolin filed for Chapter 11 bankruptcy protection and is seeking to sell its Texas facilities for $52 million.
Data from on-chain analytics firm Lookonchain reveals that two of the largest Bitcoin miners deposited significant amounts of the cryptocurrency on exchanges during Thursday’s session, which analysts interpret as a signal of selling intent. The transactions come as BTC’s price attempts to consolidate above $64,000.
Bitcoin Miners Liquidate Positions
MARA, which posted losses exceeding $600 million in the second quarter of the year but still holds more than $2.3 billion in BTC, transferred 200 units to NYDIG. Almost simultaneously, Riot Platforms deposited 381 BTC on the same platform, equivalent to approximately $24.5 million. Both transactions were completed within minutes of each other and point in the same direction: reducing exposure in a still fragile market environment.
Bitcoin mining companies are selling $BTC.
MARA, which holds 36,303 $BTC($2.34B), deposited 200 $BTC($12.86M) into NYDIG 10 hours ago.
Riot Platforms also continues to send $BTC to NYDIG, depositing another 381 $BTC($24.51M) 10 hours ago.https://t.co/fTOd8FQMxR… pic.twitter.com/cgjHgfXGJG
— Lookonchain (@lookonchain) August 7, 2026
This behavior is neither isolated nor atypical. Just a month ago, industry reports indicated that miners had unwound a record 32,000 BTC in positions during the first quarter of 2026, a wave of selling that triggered a notable contraction in the network’s hash rate and raised alarms about the financial health of the industry.
Pressure Corners Smaller Miners
The prolonged bear market is not only affecting major Bitcoin miners. Poolin, a mining company with facilities in Texas, filed for bankruptcy protection under Chapter 11 in New Jersey courts and sought judicial authorization to proceed with the sale of its mining properties for $52 million. Compressed margins and sustained operating costs are forcing firms with less capacity to absorb losses out of the market.
On another note, an unusual event occurred in solo mining: a solo miner managed to solve the block and claimed the reward of 3.125 BTC, valued at approximately $200,000 at current prices, a small reminder that the protocol continues to function independently of the financial turbulence facing the industry.
