The top five Bitcoin mining companies have not sold their Bitcoin in anticipation of the upcoming halving

ChainCatcher news, according to Cointelegraph, the Bitcoin halving is approaching, but the top five Bitcoin mining companies have not sold their Bitcoins. According to a report by Bitwise on April 10, the total amount of Bitcoins sold by the top five mining companies in the first quarter of 2024 has dropped to about 2,000, reaching a two-year low.

Currently, global Bitcoin miners hold over 700,000 Bitcoins, accounting for 3.4% of the total Bitcoin supply. The last time the top five mining companies sold fewer than 2,000 Bitcoins was in the first quarter of 2022. In contrast, in the fourth quarter of 2023, the top five mining companies sold over 7,000 Bitcoins in total.

It is reported that among the top five mining companies, Marathon Digital has the highest Bitcoin production, with a cost price of $22,249 per coin. Its output in the first quarter of 2024 exceeded 2,500 Bitcoins, but this figure is lower than the over 4,000 Bitcoins produced in the fourth quarter of 2023.