Bitcoin News on Nostr: ...
Marathon Digital, the largest Bitcoin miner, revealed in its monthly report on Wednesday that it sold 63% of the total Bitcoin it mined in May.The firm sold 390 out of the 616 BTC it mined in the month. Some community members have speculated that Bitcoin ETFs may be the buyers at the receiving end of Marathon's transactions.
Bloomberg analyst Eric Balchunas had earlier highlighted that Bitcoin's consolidation over the past few weeks was largely due to Bitcoin ETFs soaking up the selling pressure from profit-taking investors. Marathon Digital may be among these sellers, with the company's report also hinting at more future sell-offs for "general corporate purposes." Several mining companies have come under pressure after speculation that the Bitcoin halving on April 19 will significantly impact their earnings.
Published at
2024-06-06 14:21:41Event JSON
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