In total, miners of the first cryptocurrency hold 1 845 303 BTC, which is 9,6% of the entire coin issue.

Bitcoin miners’ total balance of miners reaches 4-year high

30.07.2022 - 10:30

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2 min

What’s new? On July 29, the total balance of bitcoin miners reached a 4-year high of 1 845 303 BTC ($44,1 billion at the current rate as of 09:10 UTC, $23 899), which is 9,6% of the current issue of the first cryptocurrency. According to analytics firm Glassnode, the previous record was held on July 26, 2022, at 1 843 536 BTC.

Situation in the field of mining. Public mining companies sold 14 600 bitcoins in July, representing 400% of the cryptocurrency’s monthly production. Analysts at Arcane Research noted that previously, from January to April, they sold an average of 20-40% of mined coins, and after the onset of the bear market in May began selling 100% of mined BTC.

Marathon Digital Holdings has become the leader in the volumes of cryptocurrency owned among public miners, it owns 10 055 bitcoins. According to experts, “the worst bitcoin selling” by miners took place in June, after which their accumulations returned to the indicator at the beginning of the year.

Against the backdrop of market instability, Russian miners began to sell off equipment to return their invested funds. Individuals and small companies suffered the most from the downturn, while large players retained opportunities for work and development.

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