Other Bitcoin miners such as Core Scientific, Argo Blockchain and Riot Blockchain have reduced their BTC holdings during the bear market.
Forced selling from Bitcoin miners raises concern about BTC price, but the use of renewable energy and the oil and gas industry’s growing interest in BTC are longterm positives.
The 200-week moving average could see another test from the bulls next, according to signals from exchange order book composition.
To mine, or not to mine, that is the question. Professional Bitcoin miners discuss the nuance of BTC mining and whether now is a good time to get started.