Public crypto mining companies sold in July 5,767.9 BTC with a total production of 3,478 BTC, Hashrate Index experts have calculated.
According to them, the sales volume was approximately 66% higher than the Bitcoins mined.
Hut 8 and Marathon Digital were the only miners that did not sell cryptocurrencies. These have previously confirmed their commitment to the strategy of increasing Bitcoin reserves.
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Of the rest, only Riot sold less than it mined, so the company also increased the amount of cryptocurrencies on its balance sheet.
Many miners have liquidated a significant portion of their Bitcoins since the spring. In June alone, their total volume decreased by 14,600 BTC, or about 23%.
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According to the researchers, many US miners experienced a drop in Bitcoin production in July for several reasons.