• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Tuesday, October 7, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Bitcoin Miners Unleash $450 Million Just in One-Day Selling Spree!

Kyle Portman by Kyle Portman
January 18, 2024
in News
Reading Time: 2 mins read
0
Share on TwitterShare on Facebook

On January 17, the analytical platform CryptoQuant recorded the largest daily decline in miner inventories over the past year. Over the past 24 hours, the reserves of cryptocurrency miners have decreased by a total of 10,233 BTC ($450 million at the current rate). 

 

Why did the miners sell so much? 

Miners have two phases: accumulation and selling. According to Bitfinex, the last time they entered savings mode was around mid-2023, when prices and profitability were significantly lower than they are now. 

Against the backdrop of rising costs and profitability, which has been observed in recent months, miners are moving to sell. For several days now, the Bitcoin rate has been fluctuating between $42 thousand and $43 thousand. 

According to CoinGecko, at the time of writing, BTC is trading at $42,620. Over the past 24 hours, the price has increased by 0.2%. 

 

Bitcoin miner stocks are at a minimum 

CryptoQuant data also shows that Bitcoin miner holdings are currently at their lowest level since July 2021, at 1.83 million BTC ($78 billion). 

Over the past year, BTC miner reserves have collectively dropped by 22,800 BTC ($979 million). Overall, however, the overall figure has remained stable since the start of 2021. 

The decline is mainly driven by the record high hashrate, which indicates that more energy is required to process transactions and operate the network. According to Blockchain.com, the figure is now 519 EH/s. 

 

Impact of Bitcoin Halving: Rising Costs and Reduced Rewards

Previously, CoinShares experts shared a study in which they analyzed the potential impact of halving on BTC miners. According to their estimates, the weighted average cost of Bitcoin mining and the monetary costs for this process will almost double, and the reward per block, on the contrary, will decrease. 

At the moment, miners are already forced to spend too significant sums on commercial and administrative issues. It is likely that after halving many will have to work at a loss.

Tags: bitcoinBitcoin MinersBTCBTC HalvingCryptocurrency Trends
Previous Post

Top Three Crypto Tokens Predicted To Soar in Q1 of 2024: Chiliz (CHZ), Pullix (PLX) and Blur (BLUR)

Next Post

Twin Peaks Digital’s Strategic Move: The Acquisition and Rebranding of The VR Soldier Explained

Related Posts

NFT Market Sees Steady Growth as Sales Reach $129 Million
News

NFT Market Sees Steady Growth as Sales Reach $129 Million

October 6, 2025
Featured

MetaMask Rewards Program Targets Active Users

October 5, 2025
Featured

Ethereum Foundation to Sell 1,000 ETH

October 5, 2025
Featured

OctaFX Probe Exposes Global Fraud Network

October 5, 2025
Altcoin Season Index Soars to 76 While Bitcoin Dominance Wobbles
Featured

Altcoin Season Stalls as Uptober Hopes Build

October 3, 2025
bitcoin btc
Featured

Strategy Bitcoin Holdings Hit Record $77.4B

October 3, 2025

Press Releases

NFT Market Sees $129M Weekly Sales as BNB Chain Surges
News

NFT Market Sees $129M Weekly Sales as BNB Chain Surges

by Jordan Avery
September 28, 2025

The NFT sector continues to show resilience with sales volumes climbing 8.13% to reach $129.1 million, marking the third straight...

Read more
Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

Ethereum Can Outshine Google Says Vitalik Buterin – Here’s How

September 21, 2025
XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

XRP Aims for $4 as ETF Buzz Heats Up: Can the Hype Hold?

September 10, 2025
Bitcoin 12.8% Dip Looks More Like Flexing Than Failing

Bitcoin 12.8% Dip Looks More Like Flexing Than Failing

September 2, 2025
Whales Stack Nearly $1B in XRP – Is $4 Now on the Horizon?

Whales Stack Nearly $1B in XRP – Is $4 Now on the Horizon?

September 1, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier