New data: Miners have sold most of the bitcoins mined in the past month

While Bitcoin is trying to reclaim its previous prices, the miners of this digital currency have sold some of their assets over the past 30 days.

To Report Coin Desk, data from various sources show that bitcoin miners have sold some of their assets over the past 30 days after a few months of mining and accumulating their assets.

Net changes in miners ‘assets represent the result of changes in the volume of bitcoins in miners’ wallets. The chart below shows the periods in which miners sold their bitcoins (red bars) and the periods in which they accumulated them (green bars).

Miners traded 1,660 and 1,733 bitcoins on Saturday and Sunday this week, according to analytics site Glassnode. That amount is currently $ 147 million.

This is the first time bitcoin miners will sell in 2022. It is worth mentioning that their previous sales date back to November 2021 (November).

The Delphi Digital Research Institute explained in an article that miners have been accumulating their bitcoins for the past two months. As it turns out, lowering the price of bitcoin from $ 55,000 to $ 35,000 has not stopped them from doing so.

According to some analysts, with the bitcoin price rising over the weekend, the miners decided to sell some of their bitcoins. The sale caused the miners’ net change in net assets to decline for the first time in two months.

Miner sales over the past 30 days may have helped push the bitcoin price closer to $ 32,000 in the last week of January. However, the price of Bitcoin improved after a while and reached $ 45,570 on Tuesday.

The bitcoin extraction process involves discovering new blocks, ‌ verifying transactions, and adding them to the bitcoin blockchain.

Miners are individuals or entities that use powerful processing resources to validate network activity and receive bitcoin rewards in return. The cost of maintaining such systems is very high and miners sell their assets in different periods to be able to pay these costs.