Mining companies, which have been preparing since last year for the reward halving, which will take place in approximately 10 days, and have spent hundreds of millions of dollars on devices that are both new and consume much less electricity, have slowly begun to switch to the “HODL” strategy.

According to the information provided by the American research company BTIG, major mining companies such as Riot Blockchain, Marathon Digital and Cleanspark have made major reductions in Bitcoin sales as of the first quarter of 2024.

Cleanspark sold only 13 BTC

In the information in BTIG’s Crypto Mining 29 report, it was seen that Cleanspark sold only 13 BTC as of the first quarter. In the previous quarter, this figure was 1257. For Marathon, this figure was 730 BTC. Marathon had sold 2365 units in the previous quarter. Riot Blockchain, which sold 212 Bitcoins in total, did not sell in February and March. So all sales were made in January.

BTIG also stated that despite the sharp rise in Bitcoin, the shares of mining companies did not increase or even decreased, and the reason for this was that the interest actually shifted to Bitcoin ETFs rather than these companies.

The reward halving in Bitcoin is expected to take place on April 20-21.

It was published:

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