Bitcoin miners sell their holdings amid crypto winter’s chill
According to Glassnode, Bitcoin miners have been forced to tap into their cryptocurrency stashes as a plunge in prices, rising energy costs, and increased competition bite into profitability.
Bitfarms said it sold roughly 3,000 Bitcoin in June to reduce its debt and Core Scientific sold more than 2,000 BTC in May to pay operating costs. Only Marathon still insists that they will continue to accumulate Bitcoin.