Since January, publicly traded mining companies have sold approximately 28,000 BTC, representing $1.78 billion, according to Blockware Intelligence. Their reserves dropped from 127,000 to 99,000 bitcoins. This supply adds to the daily production of 450 BTC by miners since the 2024 halving. Bitcoin now costs an average of $74,300 to produce, roughly $10,000 above its market price, forcing many operators to sell despite the price decline. Mining difficulty has fallen 18% from its November record, which could gradually rebalance the sector.
Source: Read the original article
