Bitcoin’s Mining Reserves Plunge To 12-Year Low
Bitcoin mining reserves have been a shadow of themselves in recent months due to unsavoury market conditions plaguing the virtual currency industry. Mining reserves held by Bitcoin (BTC) miners have dropped to new lows not recorded in the last ten years. According to blockchain analytics firm IntoTheBlock.
BTC mining reserves have been above the 2 million mark since Feb 2020, dropped below the threshold earlier this year, and have not recovered significantly since then. As the bear market worsened in mid-June, Bitcoin miners have had their share of woes selling more BTC than they mine in a month. BTC miners have had to sell their reserve bitcoins to level profits which have dwindled over time. It also follows the holdings of mining pools.
Source
t.me/Mining_Crypto_Miner
