According to a new report released by Arcane research company, which works on cryptocurrencies, the selling pressure of public mining companies on Bitcoin (BTC) is easing.
The downturn in the cryptocurrency markets over the past year has affected both spot investors and miners who have spent a lot of money in this sector. Especially in the last period, the price of Bitcoin experienced a decrease of around 40% After the withdrawal from 30 thousand dollars to 17 thousand dollars, serious sales were observed by the miners in May and June. Arcane Research In a new report published by Miners, the Bitcoin rates that miners have sold in the past 7 months have been revealed in detail.
In the light of this new report presented, it is seen that the main reason for miner sales is meet their capital and to ensure cash flow can be said to be. since the beginning of 2022 top sales It took place last July. In about a month At the level of 15,000 Bitcoins sales volume observed. The publicly traded mining companies with the highest sales during the bear market are; With about 12 thousand Bitcoin sales Core Scientificwith 6 thousand Bitocin sales Bitfarmswith 3 thousand Bitcoin sales Northen Data it happened.
Although, according to the report, the selling pressure of miners on Bitcoin seems to have decreased, around 6 thousand Bitcoins sold in July are still at the end of this year. As the second largest sales Emerges. This tells us that publicly traded mining companies economically troubled processes It shows that they haven’t completely jumped in yet.
These mining companies are already collectively 33,772 BitcoinsThey hold it in their hands. Until April 2022, mining companies will be able to save their Bitcoins that they have mined. 60% to 80%Although they managed not to sell their %one hundredThey took away more than . This over 100% sales means that the mining companies are selling all the Bitcoins they mined that month, in addition, they are selling their historical stocks.