Bitcoin

Bitcoin miners make Bear Rally profits by selling more than 6,000 BTC since August 1,

Bitcoin’s value against the U.S. dollar lost 7.3% during the last 24 hours after more than $600 million in value was removed from the $1. 07 trillion crypto economy. Statistics show that a number of bitcoin miners capitulated over the last two weeks, selling 5,925 bitcoin worth millions, according to cryptoquant.com data.

More Than 6,100 Bitcoin Sold Since the First of the Month, Following a Brief Miner Capitulation Pause

Bitcoin’s U.S. dollar value slid from $23,593 per unit to $21,268 per coin at 8: 30 a.m. (EST) on Friday morning. More than $600 million has been erased from the crypto economy during the last day as BTC lost 7.3% and ETH shed 7.4%. A number of other coins lost value against the U.S. dollar as well as BNB dipped by 5%, XRP slipped by 9%, and ADA lost 10.3% during the past 24 hours.

According to data stemming from cryptoquant.com shared by Ali Martinez bitcoin miners capitulated during the last 14 days. Martinez stated that bitcoin miners appeared to have taken advantage the recent upswing in order to book profits. “Data shows that miners sold 5,925 BTC in the last two weeks, worth roughly $142 million.”

Following Martinez’s tweet, cryptoquant.com data shows more than 6,100 BTC have been sold since the first of August. The web portal’s Miners’ Position Index says bitcoin miners are “moderately selling” bitcoin. Using today’s crypto market values, 6,100 BTC equates to $130. 80 million, a much lower value than Martinez’s quote price.

Bitcoin Miners Take in Bear Rally Profits by Selling More Than 6,000 BTC Since August 1 — **Source: Cryptoquant.com Data shared by Ali Martinez.**

Miners took a break from selling BTC after a flurry of mined bitcoin was sold during the two months prior to August 1, 2022. A Blockware Intelligence Newsletter published on July 29 explained that the end of miner capitulation was near. “According to the hash ribbon metric, Bitcoin is 52 days into a miner capitulation,” the Blockware newsletter said. Blockware added

to its report.

The end of a miner capitulation historically marks a bear market bottom.

During the first two weeks of August, it seemed as though miner capitulation was over and BTC managed to tap $25,212 per unit on August 14. BTC has lost 14. 58% since the August 14 high and it’s currently down 69% from the $69,044 per unit price recorded on November 10, 2021. This past week Bitcoin’s mining difficulty rose by 0. 63% making it more difficult for miners to discover BTC blocks and with prices lower, mining bitcoin is less profitable today than it was five days ago.

Bitcoin Hashrate Skyrockets by 46% During the Past 24 Hours Following the Recent Difficulty Increase

Despite the difficulty rise, after coasting along under the 200 exahash per second (EH/s) zone at 182. 40 EH/s the day prior on August 18, 2022, BTC‘s hashrate has skyrocketed to 267. 40 EH/s. That’s a 24-hour increase of around 46. 60% higher than the 182 EH/s recorded on Thursday afternoon (EST).

Using the current difficulty parameter, BTC‘s current market value and a cost of around $0. 12 per kilowatt hour (kWh), a Bitmain Antminer S19 XP with 140 terahash per second (TH/s) can get an estimated $4. 85 per day in profit. The Microbt Whatsminer M50S launched in July with 126 TH/s can get an estimated $2. 74 per day in profit, according to current market statistics.

This story contains tags

$0. 12 per kWh, 46% rise in hashrate, 6100 BTC, Bitcoin Miners, Bitcoin mining, Bitmain Antminer, BTC Mining, capitulation, crypto mining, difficulty increase, Dumping, Hashrate, hashrate spike, Microbt Whatsminer, Miner Capitulation, Miner Sell-off, Miners Dump, Miners Sell, Miners Selling, mining, Profit, Profitable

What do you think about miners selling 5,925 bitcoin during the last two weeks? Are you convinced that miner capitulation has ended or will it continue? Comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.

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Bitplanet becomes South Korea’s first listed firm to buy Bitcoin (BTC)

Bitplanet bought 93 BTC in Korea’s first regulated corporate purchase. The firm plans daily Bitcoin buys to reach a 10,000 BTC treasury. Backed by major investors, Bitplanet leads Korea’s Bitcoin adoption. Bitplanet has made history in South Korea’s financial landscape by becoming the nation’s first publicly traded company to purchase Bitcoin (BTC) through a regulated…

Bitplanet bought 93 BTC in Korea’s first regulated corporate purchase.
The firm plans daily Bitcoin buys to reach a 10,000 BTC treasury.
Backed by major investors, Bitplanet leads Korea’s Bitcoin adoption.

Bitplanet has made history in South Korea’s financial landscape by becoming the nation’s first publicly traded company to purchase Bitcoin (BTC) through a regulated domestic exchange.

The KOSDAQ-listed technology firm recently acquired 92.67 BTC — worth approximately $10.9 million — marking a new chapter in the country’s corporate embrace of digital assets.

Korea’s first regulated corporate Bitcoin buy

The BTC acquisition positions Bitplanet as a pioneer in compliant Bitcoin adoption within Asia’s evolving financial ecosystem.

For the past month, @Bitplanet_KR has been quietly building the most reliable and compliant Bitcoin treasury infrastructure in Korea — culminating in becoming the first public company to purchase Bitcoin directly through a licensed domestic crypto exchange. As of October 26,… pic.twitter.com/hEmpvh9fUL

— Bitplanet Inc. (@Bitplanet_KR) October 26, 2025

It is the first time a listed company has acquired Bitcoin through a licensed exchange within the country’s regulated financial infrastructure.

Executed entirely under the supervision of South Korea’s Financial Intelligence Unit (FIU), the transaction signals growing confidence among institutional investors that Bitcoin can serve as a legitimate, strategic treasury asset.

The Seoul-based company described the move as a deliberate, rules-based initiative rather than a speculative trade.

Co-CEO Paul Lee explained that the purchase marks the start of a disciplined, long-term accumulation plan designed to reduce timing risks while positioning Bitcoin as a strategic treasury reserve.

The transaction was executed fully in compliance with domestic financial laws, a milestone that could encourage other listed companies to follow suit.

Notably, the timing of Bitplanet’s move coincided with a strong rally in Bitcoin prices, which recently climbed above $115,000 amid optimism about US Federal Reserve rate cuts and increasing exchange-traded fund (ETF) inflows.

By choosing this moment to make its first acquisition, Bitplanet demonstrated not only market awareness but also confidence in Bitcoin’s long-term role as a corporate asset.

From its IT roots to a Bitcoin treasury company

Founded in 1997 as SGA Co., Ltd., Bitplanet has deep roots in IT, cybersecurity, and education technology services.

The company rebranded in September 2025 to reflect a broader shift toward blockchain and Bitcoin-focused ventures.

Its pivot follows the full $50 million acquisition of SGA earlier in the year and the completion of a $40 million fundraising round to support its new treasury strategy.

This strategic transformation underscores Bitplanet’s vision of becoming South Korea’s first institutional-grade Bitcoin treasury company.

The firm has developed a comprehensive infrastructure for compliant digital asset management, including regulated custody solutions, secure storage, and real-time audit systems that meet government and financial oversight standards.

Bitplanet’s management says it intends to accumulate Bitcoin daily through licensed domestic exchanges, aiming to build a reserve of up to 10,000 BTC over time.

This steady, methodical approach minimises exposure to market volatility and mirrors similar strategies employed by firms such as Japan’s Metaplanet, one of Bitplanet’s key backers.

Backed by global Bitcoin advocates

Bitplanet’s Bitcoin strategy is supported by a global network of digital asset investors.

The firm’s backers include Simon Gerovich of Metaplanet, AsiaStrategy, Sora Ventures, UTXO Management, KCGI, Kingsway Capital, and ParaFi Capital — groups known for advancing institutional Bitcoin adoption worldwide.

Their involvement signals strong confidence in Bitplanet’s compliance-focused model and its potential to establish a new standard for Bitcoin treasury management in Asia.

Industry observers believe the company’s regulated approach could pave the way for broader corporate participation in South Korea’s growing digital asset market.

The BTC purchase also aligns with the country’s forthcoming Digital Asset Basic Act, scheduled to take effect by 2027, which will formalise the rules for cryptocurrency custody and corporate holdings.

By moving early, Bitplanet positions itself to benefit from the regulatory clarity that this law is expected to bring.