As the Bitcoin (BTC) halving, which is expected to take place in April, approaches, miners are selling at record levels.
The positive atmosphere with the approval of Spot Bitcoin ETF and the Bitcoin halving, did not slow down companies’ sales of Bitcoin. On the contrary, miners’ recent Bitcoin sales have climbed to record levels when looking at the overall picture.
On-chain analysis platform CryptoQuant According to data provided by miners last month $1 billion tens of thousands worth over Bitcoin (BTC) sent it to the stock exchanges for sale.
The company that pioneered Bitcoin sales F2Pool happened. From the company’s analysts Bradley ParkIn the message he shared with CoinDesk, he stated that these sales were made to cover increasing costs.
As the mining difficulty level goes from record to record, companies are spending more on production and as a result are forced to sell more Bitcoin.
expected to take place in April Bitcoin halving While miners are expected to increase their expenses more, the decrease in the number of Bitcoins they will obtain may make this equation even more difficult.
On the other hand, the expectation that the Bitcoin price will increase with the halving creates hope for miners. In addition, thanks to the constantly evolving technology, more innovative and faster mining devices are being released, which gives miners a powerful trump card. Especially the latest device from mining device manufacturer Bitmain Antminer T21 It has been in high demand recently.