Cryptocurrency Miners Hold Onto Bitcoin Amidst Declining Revenue Matrixport, a cryptocurrency services provider, has reported that Bitcoin (BTC) miners are holding onto their BTC despite a significant decline in revenue. This trend suggests that miners remain bullish on the long-term prospects of Bitcoin, even as the current market conditions present challenges. The revenue slump is attributed to factors such as the ongoing crypto winter, which has led to a decline in cryptocurrency prices and reduced demand for mining services. Additionally, rising energy costs have further squeezed miners' margins. Despite the challenges, miners have continued to accumulate BTC, indicating their belief in the asset's potential for future growth. This accumulation may also be driven by the anticipation of a future supply shortage, as the next Bitcoin halving event approaches in 2024.

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