🚀📋 News Warning Everyone 📈📉

Since November 2023,#Bitcoinminers have consistently sold more Bitcoin than they were mining, marking the longest period of net selling since 2017. This trend makes miners holds lowest Bitcoin balance in over 14 years.

A key factor driving this behavior is the recent Bitcoin halving event in April, which cut the block reward from $6.25 BTC to 3,125 BTC. With block rewards taking up a significant portion of miners' income, many have been forced to sell their Bitcoin holdings to stay afloat amid falling profits.

Economic pressure on mining companies has also sparked a series of mergers and acquisitions in the sector. Companies such as Hut 8, CleanSpark and Core Scientific have entered into strategic agreements to consolidate resources and improve operational efficiency.

These moves reflect efforts within the industry to adapt to the changing economic landscape brought about by the halving and its impact on miner profitability.

As miners overcome these challenges, the market continues to adjust to the evolving dynamics of supply and demand in the Bitcoin ecosystem. $BTC #Write&Earn