Bitcoin Miners Are Selling Again: Here’s How Much BTC Was Reportedly Offloaded

Bitcoin’s price recovery to over $64,000 could be in trouble as the backbone of the entire network and ecosystem has gone on a substantial selling spree.

Data from Lookonchain shows that two of the largest BTC miners, namely MARA and Riot Platforms, have deposited significant portions of the cryptocurrency to exchanges, with the likely intention of selling.

More specifically, MARA, which posted over $600 million in losses in Q2 but continues to hold more than $2.3 billion in BTC, deposited 200 units to NYDIG on Thursday evening.

Riot Platforms, on the other hand, used the same platform to deposit another 381 BTC (worth $24.5 million) approximately at the same time. Bitcoin mining companies are selling $BTC. MARA, which holds 36,303 $BTC($2.34B), deposited 200 $BTC($12.86M) into NYDIG 10 hours ago.