Public companies have sold $8.08 billion in Bitcoin in 2026: Lookonchain

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Publicly listed companies have sold more than 108,000 Bitcoin worth approximately $8.08 billion so far in 2026, with major mining firms MARA Holdings and Riot Platforms accounting for more than half of the total.

Summary

Fourteen publicly listed companies have sold a combined 108,247 BTC worth approximately $8.08 billion in 2026, according to Lookonchain.
MARA led corporate Bitcoin sales with 40,581 BTC worth $3.03 billion, followed by Riot Platforms with 20,264 BTC valued at $1.51 billion.
MARA used $750 million from recent Bitcoin sales to repay loans backed by its BTC holdings, releasing 17,477 BTC previously pledged as collateral.
Riot Platforms sold Bitcoin to finance its data center expansion, while several other miners have redirected resources toward artificial intelligence infrastructure.

According to blockchain analytics firm Lookonchain, 14 public companies sold a combined 108,247 BTC as of November 10, with MARA leading the list after selling 40,581 BTC worth approximately $3.03 billion.

Riot Platforms followed with 20,264 BTC worth $1.51 billion, while Bitdeer Technologies ranked third with 10,553 BTC valued at $787 million.

Lookonchain estimated that MARA sold its Bitcoin at an average price of $74,446, compared with $73,231 for Riot Platforms.

Together, the two miners accounted for approximately 56% of the Bitcoin sold by the companies included in the analysis.

Bitcoin miners dominate the list of corporate sellers

Beyond MARA and Riot, several other major Bitcoin mining companies appeared among the largest sellers this year.

Cango sold 7,001 BTC worth $522 million, followed by CleanSpark with 5,715 BTC valued at $426 million. Core Scientific disposed of 3,374 BTC worth $252 million, according to Lookonchain’s figures.

Other companies included Empery Digital, which sold 3,170 BTC, and Keel, formerly Bitfarms, with 3,169 BTC. Hut 8 Mining and HIVE Digital sold 3,102 BTC and 3,056 BTC, respectively.

IREN, Cipher Digital, Sequans and KULR rounded out the list, with their reported sales ranging from 1,097 BTC to 2,774 BTC.

The sales have occurred during a year when several publicly traded miners have been spending heavily on artificial intelligence and data center infrastructure.

An August analysis by BlocksBridge Consulting, previously covered by crypto.news, found that nine public miners spent $5.11 billion on capital assets during the first half of 2026, while their reported AI and high-performance computing revenue totaled $341.2 million.

MARA has sold over 40,000 BTC as it reduces debt

MARA’s latest financial disclosures provide more details about how the company has used proceeds from its Bitcoin sales.

In its third-quarter shareholder letter, published November 9, the company disclosed that it sold approximately 26,984 BTC for $1.9 billion during the first nine months of 2026.

Following the end of September, MARA sold another 13,597 BTC at an average price of approximately $81,039, generating $1.1 billion.

The company used $750 million of those proceeds to repay Bitcoin-backed loans, which resulted in the release of 17,477 BTC previously pledged as collateral.

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MARA had borrowed against its Bitcoin holdings to help finance its planned acquisition of Long Ridge, a natural gas power business that forms part of its expansion into energy and data center infrastructure.

The miner has reduced its total debt by $1.4 billion, or 37%, since the beginning of 2026.

Its Bitcoin management policy has changed considerably over the past two years. MARA began permitting sales of newly produced coins in 2025 before expanding the policy this year to include Bitcoin held on its balance sheet.

The company intends to continue monetizing Bitcoin to support its financial requirements, including investments in AI infrastructure, potential share repurchases and upcoming debt obligations.

Riot Platforms uses Bitcoin sales to finance data centers

Riot Platforms has followed a similar approach, using proceeds from its Bitcoin holdings to support its expanding data center business.

The company sold 20,264 BTC during the first nine months of 2026, generating approximately $1.5 billion, primarily to finance data center development.

Riot ended September with 2,418 BTC valued at approximately $202 million, alongside $748.2 million in cash, including restricted funds.

Its expansion includes a $9.1 billion data center agreement covering 191 megawatts at its Rockdale facility in Texas and a separate 15-year lease covering 910 megawatts at Corsicana.

The company has reported approximately $38 billion in expected revenue from its contracted data center agreements over their initial terms.

Meanwhile, Keel Infrastructure, another company on Lookonchain’s list, shut down its US Bitcoin mining operations in June as it redirected its American power portfolio toward AI and high-performance computing.

The former Bitfarms business reported selling 1,085 BTC for $75 million by August, while its second-quarter revenue fell 50% from a year earlier to $30.4 million.

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