The majority of big crypto mining firms have sold their self-mined Bitcoin, while a few firms like Marathon, Hut 8 and Hive still hold on.
The price of cryptocurrency mining hardware is likely to continue falling in the near future amid the ongoing crypto winter, according to an executive at major Bitcoin (BTC) mining pool F2Pool. F2Pool, one of the world’s biggest Bitcoin mining pools that supports 14.3% of the BTC network, released its latest mining industry update on Tuesday.Focusing on June 2022 BTC mining results, F2Pool’s report noted that the majority of Bitcoin mining companies like Core Scientific have opted to sell their self-mined bitcoins recently.Bitfarms, a major Canadian BTC mining firm, sold 3,000 Bitcoin, or almost 50% of its entire BTC stake for $62 million in order to reduce its credit facility in June.“I have studied almost 10 publicly traded industrial miners and found that they are all very honestly telling everyone that they are selling self-mined Bitcoins,” F2Pool’s director of global business development Lisa Liu wrote in the report.
