Bitcoin miners sell wallets

The number of coins miners are sending to cryptocurrency exchanges has been steadily increasing since June 7, MacroHive researchers noted, in a sign that "miners are increasingly liquidating their coins on 'exchanges'."

Several publicly listed bitcoin miners collectively sold more than 100% of all their production in May, when the value of bitcoin dropped 45%, according to an analysis by Arcane Research.
Bitcoin mining is a zero-sum game. If you can keep running when others can't, that means you have a bigger slice of the pie," said Charlie Schumacher, a spokesman for the largest publicly traded miner, Marathon Digital.

Marathon has not sold bitcoin since October 2020, he added.

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