January 27, 2023

Messari: Public mining companies sold almost all BTC mined in 2022

Article reading time:
1 min.

Messari: Public mining companies sold almost all BTC mined in 2022

Tom Dunleavy, an analyst at cryptocurrency research company Messari, believes that miners who immediately sell mined bitcoins have a bad effect on the price of BTC.

Tom Dunleavy reported that publicmining companies have sold 40,300 of the 40,700 bitcoins mined in 2022. Among them are such large miners as Core Scientific, Argo, Marathon, Iris Energy, Bitfarms and Riots.

Messari: Public mining companies sold almost all BTC mined in 2022

Most digital currency holdings of minersdeclined in the second half of November as the industry was hit hard by the FTX default. According to Dunleavy, miners who immediately sell the mined BTC have a negative impact on the price of the first cryptocurrency.

Former BitMEX CEO ArturHayes (Arthur Hayes) stated that the influence of bitcoin sellers on its price is negligible. Even if the miners sell all the mined cryptocurrency, this will not greatly affect its price.

According to CoinMarketCap data, BTC trading volume on December 26 was about $12 billion with an outflow of $15.3 million, which is only 0.13% of the total trading volume.

Earlier, Bits.Media published an article about how the crypto winter and the fall in the bitcoin exchange rate affected the miners and what opportunities it opened up for them.