Capitulation: Public Bitcoin Miners Dump 25% of BTC Holdings Last Month
Data shows public Bitcoin miners dumped around 14.6k BTC during the month of June, which is about 25% of their total holdings. Bitcoin Public Miners Capitulate As Mining Revenues Stay Quite Low As per the latest weekly report from Arcane Research, BTC miners sold almost 400% of their production during the last month. Miners pay off their electricity bills, expansions, and other running costs using dollars. As such, the USD value of their Bitcoin rewards is the more relevant metric for them. Since the price of the crypto has been in a state of decline during the last few months, times have....
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More announcements from public bitcoin miners on potential capitulation. Debt needs to be paid and cash is tight due to high hash rate and a low bitcoin price.
Public bitcoin mining firms have been caught between a rock and a hard place with the decline in bitcoin prices. As their cash flow had declined significantly, they had turned to sell BTC to be able to keep up with the costs of their operations. The massive stash of BTC that these public miners had stacked up during the incredible year of 2021 is now making its way to the market. But they are quickly running out of coins to sell. Bitcoin Miners Dump Coins Over the last three months, there have been reports of Bitcoin miners dumping thousands of BTC. The volume of BTC being sold was....
Last month, the top public bitcoin miners increased their hash rates and bitcoin holdings.
On-chain data shows the Bitcoin MPI has spiked up recently, suggesting that miners may have started to dump the crypto. Bitcoin Miners’ Position Index (MPI) Has Sharply Risen Recently As pointed out by an analyst in a CryptoQuant post, some data suggests BTC miners may have began to dump the coin following recent rally. The […]
Nvidia RTX 3060 GPUs are going for as low as $270 as crypto miners in China dump their cards on the used market amidst the nation’s Bitcoin crackdowns. Cheap Used Nvidia RTX GPUs Flood The Chinese Market As Miners Dump As China continues cracking down on Bitcoin and mining in the country, some miners have […]