Bitcoin Mining Pool Founder Sells His Entire BTC Position
BTC.TOP founder Jiang Zhuoer disclosed a 100% BTC-position sale, but the short post leaves the trade’s size, structure and connection to the mining pool unknown.
Key Takeaways
- Jiang disclosed a BTC-position sale at $77,226.
- The post did not reveal the trade size.
- A BTC position is not necessarily spot Bitcoin.
- The disclosure does not show a BTC.TOP sale.
- Identified wallet flows would offer stronger evidence.
What Jiang Zhuoer Actually Disclosed
In a public trade record posted on X, Jiang wrote that he sold 100% of his BTC position at $77,226. The post says he sold the position at a specific price, but it does not identify the instrument behind it.
Jiang did not disclose the quantity involved, the venue, a wallet address, a trade confirmation or whether the position consisted of spot Bitcoin, futures or another derivative. Those missing details limit what the post can establish about Bitcoin supply or miner activity.
A Pool Founder’s Trade Is Not a Pool Sale
BTC.TOP is a mining pool, not a public record of its founder’s wallet. Pools combine hashpower from participating miners, while the miners and pool operator can each make separate decisions about their Bitcoin rewards, reserves and hedges.
That creates three distinct types of selling that are often grouped together under the label “miner selling.” They carry very different implications for Bitcoin’s available supply.
1. A founder’s personal trade
This shows an individual market view. Without a disclosed size, it cannot be measured against Bitcoin’s daily spot demand.
2. A mining pool’s reward flows
These are payments and rewards connected to participating miners. They are not automatically part of the founder’s personal holdings.
3. A mining company’s treasury sale
This is a corporate capital-allocation decision. A public filing, earnings report or identified wallet flow can show whether coins were actually sold to fund operations, debt payments or expansion.
Jiang’s post falls into the first category. Nothing in it shows that BTC.TOP reserves or freshly mined Bitcoin entered the market. Treating it as an industry-wide sell signal would turn a personal disclosure into a claim the evidence does not support.
“Sold” Can Describe More Than One Bitcoin Trade
The wording matters because a BTC position is broader than a wallet balance. A trader may sell spot Bitcoin that they already own. They may close a long futures position. They may also open or increase a bearish derivative position. Each action can reflect a negative short-term view, but only the first necessarily creates immediate spot-market supply.
【交易记录贴】77226卖出100%BTC仓位 pic.twitter.com/BFs7tCfjEG
— 江卓尔_莱比特矿池 (@Jiangzhuoer2) September 11, 2026
This is the practical distinction readers need when a public figure posts a trade update. A spot sale can add coins available to buyers. A derivatives trade primarily changes positioning and can affect funding rates, liquidations or futures-market sentiment without putting the same quantity of Bitcoin up for sale.
Jiang’s short statement does not settle which of these occurred. The accurate reading is therefore narrower: he disclosed that he had fully exited or sold his stated BTC position at $77,226. It should not be translated into “he sold all the Bitcoin he owns” without further evidence.
Why $77,226 Was a Notable Level
With the position size unknown, the clearest objective context is the price level. A recent review of Bitcoin’s trading range placed first daily support near $76,600, while $79,500 to $80,000 remained the immediate resistance area Bitcoin had struggled to reclaim.
Jiang’s stated exit price was therefore close to support, rather than near the resistance zone. A break below support would reinforce the downside risk implied by the trade, while a recovery through resistance would weaken that near-term bearish view. Neither outcome, however, proves that his position moved Bitcoin or represents the view of miners generally.
Miner Treasuries Can Fall While Immediate Selling Pressure Cools
The broader mining picture is more complicated than a single high-profile trade. Public miners may sell treasury Bitcoin to fund new infrastructure, repay debt or shift capital toward AI and high-performance computing. At the same time, their day-to-day transfers to exchanges can fall.
That split was already visible in a March examination of miners funding AI expansion. Large strategic treasury reductions and low near-term miner exchange outflows can exist at the same time because they measure different things: one-off capital decisions versus the coins being moved to market now.
Jiang’s disclosure cannot tell readers which, if either, of those patterns applies. It contains no reserve figure, no miner-wallet data and no evidence that the trade was tied to BTC.TOP’s operations. That is why a founder’s market view should not be used as a shortcut for analysing mining-sector supply.
What Would Turn This Into a Genuine Supply Signal
A stronger market story would require evidence beyond a post. That could include a disclosed trade size, a statement that the position represented company reserves, transfers from identified mining wallets to exchanges or a sustained rise in aggregate miner outflows. Even then, exchange deposits would show coins becoming available to trade, not completed spot sales.
What we know for now is that Jiang Zhuoer publicly recorded a full BTC-position sale near a key support area. The next evidence that matters is whether identified mining wallets or pool-linked reserves begin moving unusually large amounts of Bitcoin toward exchanges, alongside signs that those coins are being sold rather than merely repositioned.
This article is for informational purposes only and does not constitute investment advice.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
