CryptoQuant: Miners sold more than 10,000 bitcoins in one day

The trend indicates a shift among miners from accumulation to sales, which usually occurs during periods of rising cryptocurrency prices. According to Bitfinex, miners began accumulating Bitcoin in mid-2023, when prices and profitability were much lower. Currently, the price of BTC is just over $42,000.

Miner reserves are estimated at 1.83 million coins ($78 billion). This is a significant reserve that may affect the future rate of the first cryptocurrency. Over the past year, miner reserves have decreased by 22,800 BTC, according to CryptoQuant. However, the overall reserve ratio has remained relatively stable since the start of 2021.
Investment firm CoinShares has released a new report on Bitcoin mining, predicting an increase in the average cost of mining one BTC after the halving. The company claims that the average cost of producing one Bitcoin will be $37,856, and if the price of BTC falls below $40,000, then only a small group of miners will remain afloat.

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CoinShares assessed the prospects for Bitcoin miners after halving

Of the public miners, only Bitfarms, Iris, CleanSpark, TeraWulf and Cormint will be able to operate with a profit after halving if the price of Bitcoin does not exceed $40,000. CoinShares came to this conclusion.

According to the firm's specialists, in the third quarter of 2023, the weighted average values ​​of Bitcoin production costs and cash costs were $16,800 and $25,000, respectively. Following the expected block reward reduction in April, these figures will rise to $27,900 and $37,800.

According to experts, the average cost of Bitcoin mining will reach $37,856.

According to CoinShares experts, one of the main problems of miners is the high costs of selling, general and administrative expenses (SG&A). To break even, companies will likely have to cut back.

Experts expect that by halving the network hashrate will be about 450 EH/s. Historically, the rate has declined approximately six months after the block reward halved by ~9%. Therefore, it could potentially drop to 410 EH/s, but by the end of 2024 the trend line predicts an increase to 550 EH/s.

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Bitcoin mining difficulty has dropped by almost 4%

As a result of the next recalculation, the difficulty of mining the first cryptocurrency decreased by 3.9%. The indicator dropped to 70.3 T.

The average hashrate for the period since the previous value change was 484.17 EH/s. The range between blocks is almost 10.5 minutes.

According to Glassnode, on January 20, the smoothed 7-day moving average reached 469 EH/s. At the time of writing it is 471 EH/s.

According to the Hashrate Index, the hash price is $80.4 per PH.

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🚀 Exciting News! Binance Pool Launches Presale of Cloud Mining Product 🌐

Hey, friends! I have some fantastic news to share with you all today. Binance Pool has just launched the presale of their incredible cloud mining product! 🙌🏼💻

As you may know, Binance is one of the most renowned and trusted cryptocurrency exchanges in the world. And now, they are expanding their offerings further by venturing into cloud mining. With this new product, users will be able to mine cryptocurrencies easily and efficiently. 🌟⛏️

If you're not familiar with cloud mining, it's a method that allows individuals to mine cryptocurrencies by renting mining power from companies like Binance. It's a hassle-free way to get involved in mining, even for those without technical expertise. 💡

Now, Binance is making things even better with their presale. By participating in the presale, you'll have the opportunity to secure cloud mining contracts at discounted rates. This is an incredible chance to start your crypto mining journey with one of the industry leaders at an unbeatable price. 💰💪🏼

To learn more about this exciting news, check out the official announcement by Binance here: Binance Announcement

Make sure to take advantage of this incredible opportunity and secure your cloud mining contracts before they're sold out! The presale is only available for a limited time, so don't miss out! ⏳

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Let's dive into the world of cloud mining and make the most of this amazing opportunity together. Feel free to reach out if you have any questions or need further information. Happy mining! 😊💥

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Bitcoin Mining Without Mining Equipment, CGMD Miner Opens Contract Trading.

What is a CGMD miner?

CGMD miner is the world's leading computing power marketplace, providing cutting-edge cloud mining technology to investors in the cryptocurrency market. Users can easily start mining digital currencies with just a few clicks, without actually purchasing a mining rig.

The process is very accessible and secure, which makes it very attractive for individuals to start using this cloud mining platform. Thanks to a team of IT and blockchain professionals with years of experience in the industry, CGMD miner allows users to earn passive income using the latest Antminer and GPU equipment.

Why use CGMD miner?
▪︎Make money automatically
▪︎News Hardware
▪︎Safety and Team
▪︎Choose the best plan

Conclusion
All in all, the CGMD miner offers a hassle-free way for individuals looking to earn passive income through cryptocurrency mining. 
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