Some of the largest Bitcoin miners in the world are liquidating their treasuries and rewriting their corporate strategies to allow for massive balance sheet sell-offs.
Two major industry players (Core Scientific and MARA Holdings) are navigating this wave of miner capitulation.
Publicly traded mining giant Core Scientific has executed a massive liquidation of its Bitcoin reserves.
According to recent data from BitcoinTreasuries.NET, the company dumped 1,924 BTC onto the market.
Core Scientific now holds a relatively meager 613 BTC in its treasury. It has now dropped to 59th spot on the global corporate Bitcoin ranking.
Abandoning 'HODLing'
Even the largest public Bitcoin miner in the world is capitulating on its long-term holding strategy. MARA Holdings (formerly Marathon Digital) has officially opened the door to selling its stockpiled Bitcoin, according to a Form 10-K filed with the SEC on Monday, March 2.
Historically, MARA has been staunchly committed to holding its mined Bitcoin as a long-term investment.
The firm adjusted its strategy in the second half of 2025 to permit the sale of newly generated Bitcoin from its daily operations to cover costs. The new 2026 policy goes significantly further.
"In 2026, we expanded the strategy to allow for sales of bitcoin held on our balance sheet," MARA wrote in the SEC filing. "Accordingly, we may hold bitcoin for long-term investment purposes and may also buy or sell bitcoin from time to time, subject to market conditions and our capital allocation priorities."
The decision is massive given the sheer size of MARA's holdings. As of December 31, 2025, the company held an industry-leading 53,822 BTC, valued at approximately $4.7 billion.
Dan Burgin
Vladislav Sopov
