The top five Bitcoin miners are not selling Bitcoin as the halving approaches

ChainCatcher news, according to Cointelegraph, Bitcoin halving is coming, but the top five Bitcoin mining companies are not selling Bitcoin. According to a Bitwise report on April 10, the total number of Bitcoins sold by the top five mining companies fell to approximately 2,000 in the first quarter of 2024, reaching the lowest level in two years.

Currently, global Bitcoin miners hold more than 700,000 Bitcoins, accounting for 3.4% of the total Bitcoin supply. The last time the top five mining companies sold less than 2,000 Bitcoin was in the first quarter of 2022. By comparison, in the fourth quarter of 2023, the top five mining companies collectively sold more than 7,000 Bitcoins.

It is reported that among the top five mining companies, Marathon Digital produces the most Bitcoins, with a cost price of US$22,249 per coin. It produced more than 2,500 Bitcoins in the first quarter of 2024, but this was down from more than 4,000 Bitcoins in the fourth quarter of 2023.