TheMinerMag: In April, public miners sold 70% of the mined bitcoins.

GateUser-f090498e · 2025-05-12T10:17:47+00:00

Miners are shifting away from holding onto all mined cryptocurrencies, facing profitability pressures. Only a few companies are maintaining this strategy amidst declining mining profitability. Mining Bitcoin has become less lucrative despite its price surge.

GateUser-f090498e

2025-05-12 10:17:47

Abstract generation in progress

According to analysts, the trend of miners moving away from the popular cryptocurrency holding strategy in 2024 was noted as early as March. The volume of asset realization reached its highest level since October of last year.

In particular, Riot Platforms and CleanSpark announced their abandonment of the policy of retaining 100% of mined cryptocurrency. As a result, by the end of April, the former liquidated more than 100% of the bitcoins received, while the latter approximately 65%. Only three companies — MARA, Cango, and BitFuFu — fully retained their mined cryptocurrencies.

As specialists believe, miners are forced to sell bitcoins due to the ongoing pressure on the profitability of mining from the technical parameters of the network.

Even against the backdrop of the price of Bitcoin rising above $100,000, the profitability indicator of Bitcoin mining — hash price — has only reached $55 per PH/s per day, significantly lagging behind the local December highs of around $63, analysts summarized.

Earlier, experts from CoinShares stated that Bitcoin mining, once considered a “gold mine” for enthusiasts and crypto companies, has gradually turned into a financial trap.

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