As a seasoned researcher with a particular focus on the cryptocurrency market, I have closely observed the trends and dynamics shaping this rapidly evolving space. According to my analysis, it appears that larger miners are currently in an accumulation mode, while smaller miners have been offloading their Bitcoin holdings since the last halving event in April.
Based on the observation of Julio Moreno, the research lead at CryptoQuant, larger-scale Bitcoin miners have been amassing more coins recently.
Over the past few months, smaller mining operations have been actively offloading their Bitcoin holdings following the halving event in April.
According to Moreno’s observations, it is reasonable that major publicly-traded mining firms are reporting increased reserves, given the trend. Remarkably, some of these companies are also investing in Bitcoin.
According to U.Today’s report, Marathon Digital, a leading cryptocurrency mining corporation, has procured $100 million worth of Bitcoin and plans to adopt a “full HODL” approach. This strategy involves keeping the Bitcoins that are mined, as well as purchasing extra coins.
Recently in the news, it has been stated by the Financial Times that certain Bitcoin miners are shifting their focus towards Artificial Intelligence (AI) as a result of dwindling profits within their mining operations.
Currently, Bitcoin is priced at $66,572 in the markets. Lately, its value has been affected as a result of recent transactions carried out by the U.S. administration.
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2024-07-30 09:43