The Biggest Sale of the Last 3 Months from the World's Largest Bitcoin Miner: What is the Reason?

According to the latest data, Marathon Digital, one of the world's largest Bitcoin mining companies, sold 1,000 Bitcoins.

Ki Young Ju, the founder and CEO of the on-chain data and analysis platform CryptoQuant, included the sale made by the giant Bitcoin miner Marathon Digital in his post on Twitter on June 11.

In his statement on the subject, Ki Young Ju made the following statements:

Marathon Digital, the largest Bitcoin mining company, sold 1,000 Bitcoins yesterday. This sale was most likely made to cover expenses. The sale also recorded the largest OTC trading volume since late March. 

The sale by the largest miner amounts to approximately $67.5 million.

Miners were in a difficult situation when the production cost doubled after the Bitcoin halving on April 20. It is estimated that Marathon, which is known to try to keep most of its Bitcoins, will not sell except to cover expenses.

According to CoinGecko data, Bitcoin is trading at $67,479 at the time of writing.