The authors of the report noted that public miners are forced to return to the sales of the first cryptocurrency against the backdrop of profit reduction. In particular, the mining indicator remained on cyclic minimums, and the share of the commissions in the blocks dropped to 1.1%.
“There is an uncertainty related to trade duties. Some companies openly declare that they will begin to sell part of the mined bitcoins to cover expenses and financing growth, ”the document says.
According to experts, in March, Hive, Bitfarms and Ionic Digital sold the volume of bitcoins exceeding their production per month. The sample did not include Bit Digital, Argo, Terawulf and Stronghold, which ceased to publish reports.
Large miners invest funds in the infrastructure, update of equipment and access to new directions like high -performance calculations using AI. All these processes require companies of significant financial resources, analysts explained.
Earlier, experts of the American investment holding JP Morgan reported that 14 major companies, the shares of which are traded on exchanges, lost 25% of capitalization per March ($ 6 billion).
Source: Bits
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