TL; DR failure:
- Bitcoin miners re-introduce HODLing new coins.
- In September, they earned a total of $ 1.3 billion, most of which came from block subsidies.
New data from Glassnode it shows Following the price increase, bitcoin miners started collecting bitcoins again. This means that the miners’ selling pressure will be less, which is rightly considered to keep prices in the uptrend.
Bitcoin miners are HODLing
For almost a month now, miners have been abandoning their assets because bitcoin trades below $ 50,000, leading to a negative change in net position. This was related to the repression in China, as most mining companies were forced to sell some of their assets to finance their migration to other desirable areas outside China.
However, since most miners are now stationed outside of China – using hashrate, which has risen to 146.6 million terahs per second in TH / s, they have resumed BTC accumulation. As of October 4, the net position of bitcoin miners changed positively, just as the price of bitcoin began to rise in the $ 50,000 range.
Miners’ income
The revenue of daily and monthly bitcoin miners has also increased accordingly. According to data recently released by Glassnode, miners earned a total of $ 40 million a day last month. This shows “+ 275 + + from the pre-halving period of $ 14 million to $ 18 million per day and + 630% compared to the post-halving period of $ 6 million to $ 8 million per day.”
In September as a whole, its total revenue was $ 1.3 billion. They received only $ 1.29 billion in block subsidies and about $ 19 million in network costs. In August, miners earned about $ 1.4 billion.