Crypto Miners Sold Most of the Bitcoins they Mined this Year
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Many large mining companies have this year faced financial problems due to the fall of the cryptocurrency market. As a result, some have ended up on the verge of bankruptcy and were forced to sell most of the virtual currency they received.
According to experts from analytical company Messari, out of the 40,700 Bitcoins mined, approximately 40,300 coins were sold. Almost all major miners were involved in the selloff, including Marathon, Hut 8, Iris Energy, Argo, Riot and Core Scientific.
Mining companies whose shares are traded on the stock market received about 40,700 BTC this year. Of this amount, they were forced to sell up to 40,300 Bitcoins.
The most rapid decline in mining pool reserves was observed in the second half of the year.
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