Crypto miners selling Bitcoin at current highs

[Hanno Labuschagne]

Crypto miners selling Bitcoin at current highs

Bitcoin miners, many of whom have traditionally held onto the cryptocurrency after creating the digital assets, have been selling the tokens during the current rise in prices.

The percentage of miner revenue sent to exchanges hit all-time highs in the past few weeks, to according to digital asset manager Grayscale’s June monthly newsletter, citing data from crypto analytics firm Glassnode.

[Bloomberg]

 

[leon.davibe]

I doubt miners hold onto all coins they mine

Sure they may hold a percentage of the coins , they always sell how much is more the question

The only miners that can play that game with a higher % are probably ones that mine with solar

One of the biggest mining farms would use about $4500/R84k per hour in electricity if they paid $0.1 per kwh (i doubt they pay that much likely better deals )

So how long can you carry $100k/R14.45m electricity debt per day

ie $3m/R56m per month

Hence why miners get liquidated if they try and play that game

Price dips too much and suddenly they can't pay the electricity bill

 

[Hamster]