๐จ Bitcoin mining companies are selling 108,247 BTC, worth billions of dollars
Selling pressure from publicly listed Bitcoin mining companies is growing. According to Lookonchain, 14 companies have sold (or recorded corresponding outflows of) approximately 108,247 BTC, worth a total of up to $8.08 billion since the beginning of the year.
Among them, two names stand out:
๐ธ MARA: 40,581 BTC ($3.03 billion)
๐ธ Riot Platforms: 20,264 BTC ($1.51 billion)
Together, these two companies account for about 56% of the volume
While institutional investors may accumulate Bitcoin through ETFs, some of the largest Bitcoin mining companies are facing increasing financial pressure and are being forced to sell their holdings to raise cash.
With the market already weak, this additional selling pressure is definitely not a positive signal, folks
โ ๏ธ Information is for reference only and is not investment advice.
#bitcoin #btc $BTC
Selling pressure from publicly listed Bitcoin mining companies is growing. According to Lookonchain, 14 companies have sold (or recorded corresponding outflows of) approximately 108,247 BTC, worth a total of up to $8.08 billion since the beginning of the year.
Among them, two names stand out:
๐ธ MARA: 40,581 BTC ($3.03 billion)
๐ธ Riot Platforms: 20,264 BTC ($1.51 billion)
Together, these two companies account for about 56% of the volume
While institutional investors may accumulate Bitcoin through ETFs, some of the largest Bitcoin mining companies are facing increasing financial pressure and are being forced to sell their holdings to raise cash.
With the market already weak, this additional selling pressure is definitely not a positive signal, folks
โ ๏ธ Information is for reference only and is not investment advice.
#bitcoin #btc $BTC
