Bitcoin miners' reserves have decreased by 8,400 since the beginning of the year, falling to 1.8 million

ChainCatcher news, according to a report by Bloomberg citing CryptoQuant data, since the beginning of 2024, Bitcoin miner reserves (the unsold Bitcoin held in company-related digital wallets) have decreased by 8,400 coins, down to 1.8 million coins, the last time this level was seen was in June 2021. Analysts indicate that this decline suggests miners are selling Bitcoin.

Matthew Sigel, Head of Digital Asset Research at VanEck, stated, "Miners have started selling tokens to improve their balance sheets and fund growth capital expenditures to cope with the tough times that will come with the block reward halving in April. After the halving, the scale of computing power will become more important." According to CryptoQuant data, since the approval of the ETF, 3,617 Bitcoins have been transferred from miner wallets to trading platforms.