Publicly listed Bitcoin mining companies sold over 40% of their newly mined BTC in March, marking the most significant monthly sell-off since October 2024. According to a new report from TheMinerMag, which analyzed 15 publicly traded mining firms, this trend signals a major shift away from post-halving accumulation strategies that prioritized holding Bitcoin in corporate treasuries.

The move comes amid growing economic instability and a tightening financial landscape. With rising costs and uncertain markets, mining firms are liquidating their assets to stay afloat. March saw Bitcoin prices fall 2.3%, following a steep 17.39% correction in February, as sell-offs from miners added pressure to the market.

Operational costs are becoming unmanageable, especially in the United States, where the mining industry is bracing for additional tariffs under former President Donald Trump’s trade policies. BTC miners heavily rely on imported hardware, and new tariffs could raise equipment costs by at least 24%, making US-based operations less competitive globally.

Kristian Csepcsar of Braiins emphasized that full-scale hardware production in the US is unrealistic, meaning tariffs would severely disrupt supply chains. Hashlabs CEO Jaran Mellerud warned that rising costs may drive American mining firms out of the market, forcing manufacturers to redirect equipment to countries like Finland where tariffs don’t apply.

Experts warn that if US tariffs on mining components are enforced, the country's mining firms could lose significant global market share and face economic infeasibility. The combined pressure from macroeconomic factors and trade tensions may reshape the global mining landscape, benefiting overseas players while putting American miners on the defensive.