Corporate Bitcoin treasury strategy is turning in the opposite direction. After two years of aggressive accumulation, a growing number of firms are cutting BTC exposure and putting liquidity and balance-sheet resilience ahead of expansion as Bitcoin stays far below its recent peak.
Recent disclosures show a clear pattern: companies are selling Bitcoin to repay debt, reduce leverage, and pause treasury growth until market conditions improve. For firms that treated BTC as a reserve asset, the drawdown has changed the math.
Empery Digital sells 370 BTC and pays off its term loan
Empery Digital Inc. has already started trimming exposure. The company sold 370 BTC at an average price of $66,632, generating $24.7 million. It used the proceeds to fully repay its term loan, lowering leverage and interest expense while releasing roughly 1,800 BTC that had been pledged as collateral.
The firm still holds 2,989 BTC, but it signaled that more reductions remain possible as it looks to fund share buybacks and preserve balance-sheet flexibility.
Genius Group exits fully while Riot keeps selling
Genius Group Limited took a sharper step. The company fully exited its Bitcoin treasury, liquidating its remaining holdings to repay $8.5 million in debt. That is a clear break from its earlier Bitcoin-first stance. Management said any move back into BTC would depend on more favorable market conditions, even after improved revenue and a return to profitability.
Selling pressure is also visible among miners. According to on-chain data, Riot Platforms sold another 500 BTC worth about $34.1 million on April 1. Combined with roughly $200 million in Bitcoin sold toward the end of 2025, the move points to a shift away from accumulation and toward active balance-sheet management.
BTC's drop from $126,000 reshapes reserve strategy
At the time of writing, Bitcoin had fallen from around $126,000 to roughly $66,000. That decline has materially changed how companies view BTC on the balance sheet. Lower prices raise impairment risk and weaken the upside case that originally drove treasury allocations.
Volatility is adding pressure as well. For companies managing debt obligations or short-term liquidity, Bitcoin now looks less dependable as a reserve asset. The pressure is even more immediate for miners: with margins tightening, selling reserves has become a practical way to fund operations, manage liabilities, or redirect capital into areas such as AI infrastructure.
Even so, corporate exposure remains large. Public data shows that 195 companies still hold about 1.165 million BTC, valued at approximately $77.89 billion. Sentiment has shifted, but Bitcoin remains deeply embedded in corporate balance sheets.