$BTC TheMinerMag: In April, public miners sold 70% of the mined bitcoins.

According to analysts, the trend of miners moving away from the popular 2024 strategy of holding cryptocurrency became apparent as early as March. The volume of asset sales reached its highest level since October of last year.

In particular, Riot Platforms and CleanSpark announced the abandonment of the policy of retaining 100% of the mined cryptocurrency. As a result, by the end of April, the former liquidated more than 100% of the obtained bitcoins, while the latter — about 65%. Only three companies — MARA, Cango, and BitFuFu — fully retained the mined cryptocurrencies.

Experts believe that miners are being forced to sell bitcoins due to ongoing pressure on mining profitability from the technical parameters of the network.

Even against the backdrop of Bitcoin's price rising above $100,000, the Bitcoin mining profitability indicator — hash price — only reached $55 per PH/s per day, significantly lagging behind the local December highs of around $63, analysts concluded.

Earlier, experts from CoinShares stated that Bitcoin mining, once considered a "gold mine" for enthusiasts and crypto companies, has gradually turned into a financial trap.