All mined in May BTC are sold
Declining the rates of the first cryptocurrency and excess cost over profit became the reason for selling out digital assets by large mining companies.
According to Arcane Research information, public companies sold 100% of tokens mined in May. At the same time the quantity of BTC sold during the 4 months is between 20% and 40%.
Despite mining companies own just 20% in the total hashrate, their strategy shows the behavior of private miners. Analytics brought a pessimistic forecast that the situation on the market will lead to more active sales.
Experts are sure that the profitability of mining today is at the same level as 2 years ago. For example the model with high energy-efficiency Antminer S 19 lost 80% of profitability, Antminer S9 demonstrates negative efficiency.
Researches suppose that liquidation of industrial miners' reserves of 46 000 BTC will lead to declining digital gold rates.