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Bitcoin miners sold 5,700 BTC during the month of July

According to a report from the Hash Rate Index, Bitcoin miners continued to sell their supplies in the month of July. These entities have suffered a negative impact on the price of BTC and the increase in management costs, which has led to financial stress for their operations.

So far, the report says that Bitcoin miners have produced 3,470 BTC in front of 5,767 BTC sold. Questo behavior ha contribuito al ribasso della quote of BTC in 2022 and will continue to exert pressure on the cryptocurrency market.

As you can see below, the main public miners of Bitcoin have sold their BTC while the production is behind schedule. Pochissimi minatori sono riusciti a vendere quanto producono oa non vendere alfato.

The report affirms that Core Scientific is the largest seller with 1,970 BTC downloaded on the market in front of 1,200 BTC products. BitFarms and Argo follow with 1,600 BTC and approximately 900 BTC sold, respectively.

Il rapporto sostenie che i minatori di Bitcoin con sede negli Stati Unitedi sono stati particularemento colpiti. The operations in this country were hit by a “series of heat waves” that forced them to reduce or interrupt operations due to the reduction of electricity, the deliberate reduction of energy production to mitigate the stress on the network. Il rapporto affirma che:

Con l’aumento del caldo a luglio, le reti sono state sottoposte a causa della sottoproduzione di beni energetici (come l’energia eolica in Texas) e della domanda excesiva duet alluso di currente arentata e ad altri fatori di stress della rete; Many miners on industrial scale have stopped working in this period to stabilize the network and bring electricity to energy suppliers.

Because some Bitcoin miners have gained more energy credits than BTC extraction

An in-depth look at the current state of the BTC mining sector reveals that the operations could be influenced by other factors. Oltre alle ondate di calore, il rapporto sostenie che i minatori puede sambigare le vecchie equipments con nuovi S19 XP e hardware di mining più recenti.

As a result, the old hardware is dismissed, while the new hardware is installed or moved in “new structures or allestite with new racks or configurations (like cooling and immersion)”.

As you can see below, Riot registered a total of 9.5 million dollars in energy credits as a result of its energy reduction activities. According to the report, it is the equivalent of 439 BTC and the price of Bitcoin is approximately 21,600 dollars.

On the contrary, the society produced 318 BTC for a value of 6.9 million dollars. In total, Riot has earned over 16 million dollars from the combination of both operations. La curtazione became a necessity for BTC miners in the United States during the month of July. Il rapporto affirma che:

Anche altri minatori di Bitcoin in Texas, como Argo e Core Scientific, hanno subito forti reduzioni durante il mese di Julyo, ma non è claro se il loro contratto di acquisto di energia elettrica con ERCOT preveda o meno le same garanzie di credito energyico.

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