BITCOIN MINERS ARE SELLING. 3,778 BTC DUMPED IN 90 DAYS
Riot Platforms sold 3,778 BTC in Q1 2026 for net proceeds of $289.5 million at an average price of $76,626 per coin. By the end of the quarter, Riot held 15,680 BTC — down 18% from the 19,223 BTC it held a year earlier.
At the same time, Charles Schwab confirmed it is launching spot Bitcoin trading for its $11.9 trillion client base this quarter. Strategy (formerly MicroStrategy) purchased 44,377 BTC in March alone — 94% of all public company Bitcoin acquisitions that month. The miners are selling. The institutions are buying. Same week.
Source: The Block + Bitcoin Magazine + Yahoo Finance — Confirmed
Why Riot Is Selling
Riot is not selling because it believes Bitcoin is going down. It is selling to fund expansion into AI and high-performance computing infrastructure. The company signed a deal with AMD at its Rockdale, Texas location in January 2026. MARA Holdings sold 15,133 BTC for $1.1 billion in the same period and used those proceeds to buy back convertible notes. Multiple mining operators are liquidating simultaneously — all redirecting capital toward AI compute revenue.
“The miners who produce Bitcoin are selling it. The firms managing Wall Street’s money are about to start buying it. That transfer of ownership is the story behind the story.”
The Transfer of Ownership
In every major asset class transition I have studied, there is a period where the original producers sell to the new institutional holders. The miners — the original institutional holders of Bitcoin — are converting to cash and infrastructure. The traditional financial system is absorbing that supply. When that transfer completes, the supply available for purchase at current prices will be significantly smaller.
This Is Not Financial Advice
I am not a financial advisor. Nothing here should be interpreted as investment advice. What I am doing is identifying structural patterns I have seen before across eight markets and pointing at the dynamics worth paying attention to. What you do with that information is entirely your decision.
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