The largest Bitcoin miners are not selling their BTC, even though their income will be cut in half in a few days.
According to a study 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 last two years.
During this period, the miners sold approximately 2,000 Bitcoins, which was less than 2,000 sold in the first quarter of 2022.
The top five Bitcoin mining companies sold over 7,000 BTC in the last quarter of the year.
Marathon Digital, the biggest Bitcoin producer in the first quarter, mined over 2,500 BTC, with a cost of $22,249 per unit.
After the halving on April 20th, the block reward for miners will decrease from 6.25 BTC to 3.125 BTC. However, analysts predict that transaction fees will increase, potentially leading to an increase in miners’ dollar income.
