Miners exercised caution and sold $469 million worth of bitcoins
Cryptocurrency miners took no risks and got rid of $469 million worth of bitcoins at the current exchange rate.
From August 11 to 23, digital asset mining companies sold 4,207 BTC, reducing their coin holdings to 63,736, equivalent to $7 billion. Miners sold bitcoins when the cryptocurrency rate was reaching new historical highs, so they decided not to tempt fate and converted the coins into fiat currency while they were expensive.
Change in the amount of BTC on the balance of miners
Since the beginning of 2025 Bitcoin rose in price by 19%, but the profit from mining digital assets fell by 10% due to the increased complexity of mining and the fall in the number of transactions performed. Even the high commission for processing transactions by virtual currency standards, currently averaging $0,64, did not save miners from a reduction in profit.
Fluctuations in the hashrate price index, which reflects the income from bitcoin mining
The decline in profits could force BTC miners to continue selling coins to cover expenses. Adding fuel to the fire is the bearish trend that has dominated the Bitcoin market since mid-August and threatens to drag its price to the bottom. However, a major dump may not happen because Strategy, Metaplanet and other BTC treasury companies continue to buy the cryptocurrency.
