Catenaa, Sunday, April 20, 2025-Bitcoin miners are ramping up their coin sales as surging costs and weakening prices pressure their margins, according to new data from CryptoQuant.
In a report released Tuesday, the analytics firm said miners sold 15,000 BTC on April 7 — the third-largest daily outflow of the year. At the day’s low price of under $75,000, that sell-off was worth more than $1.12 billion.
The uptick in sales coincided with a volatile week for markets, fueled by a series of unpredictable tariff-related announcements from President Donald Trump. CryptoQuant said the instability has compounded pressures on mining firms already battling high network difficulty and lower Bitcoin transaction fees.
“Miner margins have been pressured by lower prices, but also with depressed transaction fees, and a record-high Bitcoin network hash rate,” the report stated. Margins have dropped to 33%, down from 53% in January.
While Bitcoin has rebounded to $83,800 — up 9% from last week’s dip near $75,000 — the coin remains far from its all-time high near $109,000 reached before Trump’s January inauguration.
Despite the president’s pro-crypto stance, which includes the approval of a national Bitcoin strategic reserve and rollback of SEC enforcement, the mining sector remains under strain.
JPMorgan added to the gloomy outlook, reporting that 14 publicly traded Bitcoin mining firms lost 25% of their combined market cap in March. Companies with high operating costs were hit hardest, analysts said.
