According to data from IntoTheBlock, Bitcoin miner reserves have reached their lowest level in over 14 years, dropping to 1.90 million BTC on June 19 from 1.95 million BTC at the beginning of the year. The halving event, which reduces mining rewards every four years, is putting pressure on miners' margins, leading them to sell off their reserves. Despite the decrease in Bitcoin holdings, the dollar value of these reserves remains high, indicating that miners have adapted to the changing market conditions. Experts predict a surge in Bitcoin's hashrate in 2025 following a post-halving dip, as production costs rise due to decreasing Bitcoin rewards and increased competition. This trend is considered normal for the current market phase, as miners adjust to the evolving landscape of cryptocurrency mining. Read more AI-generated news on: https://app.chaingpt.org/news
