From Investing.com: 2024-04-05 08:51:26

As Bitcoin’s halving event approaches, mining companies like Cleanspark, Marathon Digital, and Riot Blockchain are reducing their Bitcoin sales to increase reserves and navigate post-halving price movements. Cleanspark sold 13 Bitcoins in Q1 2024, compared to 1,257 in the previous quarter, with Marathon and Riot Blockchain also lowering sales significantly.

Miners are following the trend of “HODLing” assets to tighten Bitcoin supply ahead of the halving event, which will cut mining rewards by 50%. Despite Bitcoin’s price resilience, mining stocks are facing downward pressure as investor interest shifts towards Bitcoin spot ETFs.

The global hash rate, a measure of mining activity, has significantly increased year-over-year as miners prepare for the upcoming halving. With each successful block mined, miners currently earn 6.25 BTC, but this will halve to 3.125 BTC after the event. To maintain profitability, miners are investing in more efficient equipment and reducing operational costs.

Read more at Investing.com: Bitcoin miners shift toward HODLing ahead of April halving