Mining companies eased the pressure on bitcoin in July by reducing sales of the cryptocurrency. Nevertheless, they did not completely abandon the sale and sold part of the BTC they mined last month.
Mining pools sold 3,767 BTC in July, according to the Hash Rate Index. During the same time, they managed to get 3470 coins.
The biggest seller was the Core Scientific team. She dropped 1900 bitcoins and managed to get 1200 coins in a month. Miners BitFarms and Argo took second and third places respectively, having sold 1600 and 900 BTC in July.
The companies whose equipment works in the USA showed the greatest activity. They were forced to reduce power due to heat waves in Texas and other states.
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The researchers highlighted: "Many miners went offline in July to consume less electricity and allow suppliers to divert it to other sites."
It is also a large company, Riot, which mined 318 BTC in July, worth up to $6.9 million. Compared to June, miners have greatly eased the pressure on bitcoin.
Recently, the Arcane Research team published a report stating that in the first month of summer, miners sold about 14,600 BTC, which is almost four times more than in May 2022.