Data: Since June, Bitcoin miners' reserves have decreased by about 20,000 BTC
IntoTheBlock's Marketing Director, Vincent Maliepaard, revealed data stating that since June, Bitcoin miners' reserves have decreased by about 20,000 BTC. The halving of Bitcoin two months ago may be a driving factor for recent miner sales as profitability has been declining ever since. CJ Burnett, Chief Revenue Officer at Compass Mining, stated that large mining companies are still actively purchasing the latest generation of mining machines to improve efficiency, economies of scale and gross profit margin.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Satoshi Nakamoto statue installed at the New York Stock Exchange
The UK's Financial Conduct Authority lists pound sterling stablecoin payments as a priority for the coming year.
Total net inflow of spot Bitcoin ETFs reached $224 million yesterday, with BlackRock IBIT leading at $193 million.
Trending news
MoreCrypto prices
More
