Public crypto mining companies sold in July 5,767.9 BTC with a total production of 3,478 BTC, Hashrate Index experts have calculated.
According to them, the sales volume was approximately 66% higher than the Bitcoins mined.
Hut 8 and Marathon Digital were the only miners that did not sell cryptocurrencies. These have previously confirmed their commitment to the strategy of increasing Bitcoin reserves.
Of the rest, only Riot sold less than it mined, so the company also increased the amount of cryptocurrencies on its balance sheet.
Many miners have liquidated a significant portion of their Bitcoins since the spring. In June alone, their total volume decreased by 14,600 BTC, or about 23%.
According to the researchers, many US miners experienced a drop in Bitcoin production in July for several reasons.
