Three major Bitcoin-holding companies sold significant portions of their treasuries in Q1 2026 amid market volatility. Riot Platforms sold 3,778 BTC for approximately $289.5 million. MARA Holdings offloaded 15,133 BTC for around $1.1 billion, while Nakamoto sold 284 BTC for about $20 million. The sales represent strategic shifts in treasury management and balance sheet adjustments.
Three major companies made substantial Bitcoin sales in the first quarter of 2026, signaling a shift in treasury management strategies. Riot Platforms, MARA Holdings, and Nakamoto collectively sold over 19,000 BTC during this period of broader financial volatility.
Riot Platforms sold 3,778 Bitcoin for $289.5 million at an average price of $76,626 per coin. The company has been expanding into AI and high-performance computing, though it did not specify a reason for the sale.
Riot mined 1,473 BTC in Q1 2026, slightly less than the 1,530 BTC mined in the same period last year. The company reported record annual revenue of $647.4 million for 2025, a 72% increase from the previous year.
CEO Jason Les stated, “2025 marked a watershed year for Riot, defined by a strategic evolution in our business that has transformed our future trajectory.” By the end of March, Riot held 15,680 BTC, with part of that pledged as collateral.
MARA Holdings sold a far larger amount, disposing of 15,133 BTC between March 4 and March 25 for approximately $1.1 billion. The company said the sales were part of a strategic adjustment to its balance sheet.
Most proceeds were used to repurchase about $1 billion in convertible senior notes. This move represents a departure from MARA’s previous HODL strategy and coincided with a 15% reduction in its workforce.
Nakamoto sold approximately 284 BTC in March, earning about $20 million at an average price of $70,422 per coin. This sale price reflected a decrease from the company’s average acquisition cost of $118,171 per BTC since August 2025.
Nakamoto described the sale as part of liquidity and capital management to support operations and recent acquisitions. Despite these sales, the company asserted that Bitcoin remains a long-term treasury asset.
