Brace For Impact: Bitcoin Miners Have Begun Dumping Their Holdings

Brace For Impact: Bitcoin Miners Have Begun Dumping Their Holdings

For the longest time, bitcoin miners have held on to the spoils of their activities. That is when the profitability of mining the cryptocurrency was still high. Due to a high cash flow, these miners could afford to hold on to a good portion of their rewards while being able to still carry out their operations. However, recent market trends have tanked the profitability of bitcoin mining, leading miners to start dipping into their BTC stash and selling to keep operations alive.


Bitcoin Miners Are Selling

A good number of bitcoin miners had held on to the considerable bags mostly through the bear market. With the turn of the market and bitcoin now trading below $29,000, it has become harder for miners to hold on to these coins without compromising their ability to fund their operations. The result of this has been a number of prominent bitcoin mining companies coming out to say that they have sold or will be selling some of the BTC they hold.


..

Support the originator by clicking the read the rest link below.