With the continued decline in Bitcoin (BTC) price, Bitcoin miners’ reserves fell to the lowest level in the last 10 months.
Bitcoin miners’ reserves, according to data from On-Chain data and analytics platform Glassnode 30.4 billion end with dollars 10 month lowest declined to its level. In the graph, miners’ reserves in total since last year 25 thousand BTC was found to be reduced.
Experts have suggested that the falling Bitcoin price has a rather significant effect on dwindling reserves. According to analysts, Bitcoin 71% depreciation Together, the miners create selling pressure on the price to cover the costs.
On the other hand, despite falling profitability, in the field of crypto currency mining investments and regulations continues unabated. Recently, Russia had a Bitcoin mining related event. bill While presenting it to the parliament, oil giant Shell announced that it will launch an initiative in the field of Bitcoin mining.
