The biggest Bitcoin miners are not selling their BTC, even though their income will be halved in just a few days.
According to research by Bitwise, the amount of Bitcoin sold by the top five miners in the first quarter of 2024 was the lowest amount recorded in the past two years.
During this period, miners sold approximately 2,000 Bitcoin, which is less than the amount sold in the first quarter of 2022.
The top five Bitcoin mining companies sold over 7,000 BTC in the last quarter of the previous year.
The biggest Bitcoin producer in the first quarter of the year was Marathon Digital, mining over 2,500 BTC at a cost of $22,249 per unit.
After the halving event on April 20, the block reward for miners will be reduced from 6.25 BTC to 3.125 BTC. However, analysts predict that with the expectation of higher transaction fees, miners’ income in dollar terms could increase.
