Public Mining Companies Sold Almost All of the Bitcoins Mined in 2022

According to Messari Senior Analyst Tom Dunleavy, public mining companies sold almost all of the Bitcoins mined in 2022, putting pressure on the price of the cryptocurrency.

According to him, 10 exchange-traded firms have mined about 40,700 BTC since the beginning of the year and sold a total of 40,300 BTC.

He has said:

“This is a constant headwind for Bitcoin. For no reason, this is not a good thesis for a bullish sentiment towards the ETH / BTC pair.”

Public mining companies sold in May for the first time about 100% of the mined BTC, and in June they started liquidating accumulated reserves. The trend continued in July, showing a rollback in August-September.

Of the leading miners, only Marathon Digital and Hut 8 have confirmed their commitment to the BTC accumulation strategy.