HIVE Blockchain Technologies Ltd (HIVE)

[hobowilly]

Miners selling their BTC...DUH...it happens during every Bitcoin cycle!!!

Oh really? Does it? Read Much? Here.

Crypto miners are struggling to repay debt and complete large purchase orders of expensive mining machines they made during the bull run several months ago. Operational costs have exceeded mining revenue for some miners as Bitcoin had its worst quarter in more than a decade. High-profile crypto blowups are battering the industry, helping contribute to declines in the world’s biggest cryptocurrency, which fell below $20,000 last month for the first time since 2020.

Public mining companies often hold the vast majority of their mined Bitcoin to serve as a proxy in the stock market drawing investors that want to get cryptocurrency exposure while not holding the tokens directly. Some firms believe large Bitcoin holdings will boost their balance sheet in the long run as the token appreciates in value over time.

While Bitcoin-hoarding public miners such as Marathon Digital Holdings Inc. and Hut 8 Mining Corp. have not sold any Bitcoin so far, others have started large sales to keep afloat. Canadian crypto miner Bitfarms Ltd. sold about half of its mined coins in June and used part of the proceeds to pay down a loan while Riot Blockchain Inc. had its first sale earlier this year.

Know what you own before commenting. ROTFLMFAO!!!!!!!!! You don't own Bitcoin. You are 2 or 3 degrees removed from the asset. Going Down. Public Offering. Another REVERSE SPLIT. Warning letter from NASDAQ. Return trip to the OTC. Al coming up shortly.