Miner flows to exchanges have reached their highest point since January, Compass Mining – a bitcoin mining services company – wrote in a research note today using data from CoinMetrics. “Miners may begin to sell hodl’d Bitcoin into the open market,” wrote Compass. “At the very least they are feeling the pain after the last major dip in price. Couple this with a downwards difficulty adjustment – indicating miners powering off – and it seems miners may be hitting a wall in profitability.”
Bitcoin Miners Are Selling Off Their BTC Holdings to Cope With Market Headwinds
