IntoTheBlock: Bitcoin miners' reserves have dropped by about 20,000 BTC since June

Odaily News Vincent Maliepaard, marketing director of IntoTheBlock, disclosed data that since June, Bitcoin miners' reserves have decreased by about 20,000 BTC. The Bitcoin halving two months ago may be a driving factor for the recent miners' selling, as profit margins have been declining since then. CJ Burnett, chief revenue officer of Compass Mining, told Decrypt that large mining companies are still actively purchasing the latest generation of mining machines to improve mining machine efficiency, economies of scale, and gross profit margins. (Decrypt)