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Bitcoin Miner Reserves Drop to All-Time Low As Hashprice Collapses
Bitcoin miners have transferred over 30,000 BTC worth about $2.6 billion since November 21. This has driven miner reserves to an all-time low of 1.803 million BTC. The sell-off follows a sharp collapse in mining profitability, with hash price falling over 50% to record lows. This development indicates an industry under pressure, as operational costs rise above revenue for many operators. Massive Sell-Off Lowers Miner Holdings Bitcoin miners have transferred more than 30,000 BTC from their wallets since November 21, according to data from CryptoQuant. The total value of the transferred Bitcoin is estimated at around ... (full story)
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