A Bitcoin mining company sold all its coins—what does this signal?
Nasdaq-listed mining company Keel (formerly Bitfarms) reported its Q3 results: it sold all 2,520 $BTC , cashing out for $192 million at an average price of $76,200, while still booking a $32 million loss. Its stock fell about 18% in a day, hitting a 14-month low. From now on, it’ll sell every coin as soon as it’s mined—not hold onto a single one.
Interestingly, its average selling price of $76,200 is exactly the current price of $BTC .
The miners have all bailed—are you still holding?
A: Even the miners aren’t holding coins anymore; they sell as soon as they mine them. $76,000 won’t hold. Tonight’s 9:30 p.m. nonfarm payrolls report will deal another blow.
B: Everyone who needed to sell has already sold. Selling pressure has been cleared. The $2.65 billion in options expiring at 4 p.m. this afternoon, along with the nonfarm payrolls report, could be the turning point.
$BTC $ETH $SOL
#比特币 #矿工 #Keel
Nasdaq-listed mining company Keel (formerly Bitfarms) reported its Q3 results: it sold all 2,520 $BTC , cashing out for $192 million at an average price of $76,200, while still booking a $32 million loss. Its stock fell about 18% in a day, hitting a 14-month low. From now on, it’ll sell every coin as soon as it’s mined—not hold onto a single one.
Interestingly, its average selling price of $76,200 is exactly the current price of $BTC .
The miners have all bailed—are you still holding?
A: Even the miners aren’t holding coins anymore; they sell as soon as they mine them. $76,000 won’t hold. Tonight’s 9:30 p.m. nonfarm payrolls report will deal another blow.
B: Everyone who needed to sell has already sold. Selling pressure has been cleared. The $2.65 billion in options expiring at 4 p.m. this afternoon, along with the nonfarm payrolls report, could be the turning point.
$BTC $ETH $SOL
#比特币 #矿工 #Keel
