{"id":23832,"date":"2025-05-09T15:59:15","date_gmt":"2025-05-09T12:59:15","guid":{"rendered":"https:\/\/forklog.com\/en\/major-bitcoin-miners-increased-sales-in-april\/"},"modified":"2025-05-09T15:59:15","modified_gmt":"2025-05-09T12:59:15","slug":"major-bitcoin-miners-increased-sales-in-april","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/major-bitcoin-miners-increased-sales-in-april\/","title":{"rendered":"Major Bitcoin Miners Increased Sales in April"},"content":{"rendered":"

Publicly traded mining companies sold approximately 70% of the bitcoins they mined in April. These preliminary figures, based on reports from eight firms, were highlighted in TheMinerMag<\/a>.<\/p>\n

\"uqL6I-april-2025-bitcoin-mining-updates-1\"
Source: TheMinerMag.<\/figcaption><\/figure>\n

The publication tracks data from 15 public companies in the industry following Bitfarms’ acquisition of Stronghold and the cessation of monthly operational disclosures by Bit Digital, Argo, and Terawulf.<\/p>\n

The shift away from last year’s popular HODL strategy became evident in March<\/a>. The volume of sales reached its highest level since October 2024.<\/p>\n

Riot Platforms and CleanSpark officially announced their departure from a 100% retention policy of mined cryptocurrency. Consequently, by the end of April, the former liquidated more than 100%<\/a> of its mined bitcoins, while the latter sold approximately 65%.<\/p>\n

Only three companies \u2014 MARA, Cango, and BitFuFu \u2014 fully retained their production.<\/p>\n

According to BitcoinTreasuries, MARA increased its reserves to 48,237 BTC, second only to Strategy with 555,450 BTC.<\/p>\n

\"Bitcoin-Treasuries-193-Public-Companies-Private-Businesses-and-Other-Entities-Google-Chrome\"
Source: BitcoinTreasuries<\/a>.<\/figcaption><\/figure>\n

Despite moving away from the HODL strategy, Riot and CleanSpark continue to hold 19,211 BTC and 11,869 BTC, respectively.<\/p>\n

Mining Profitability Remains Under Pressure<\/h2>\n

Experts largely attribute miners’ shift to sales to ongoing pressure on mining profitability from network technical parameters. Even amid a rise in Bitcoin’s price above $100,000<\/a>, hashprice<\/span> only reached $55 per PH\/s per day, significantly below the December local highs of around $63.<\/p>\n

\"Hashprice-Google-Chrome-7\"
Source: Hashrate Index<\/a>.<\/figcaption><\/figure>\n

Considering the 3.34% mining difficulty adjustment<\/a> in May, the indicator has shown an increase of approximately 8.5% since the beginning of the year.<\/p>\n

The hash rate (7 DMA<\/span>) has nearly returned to the record level of 925.43 EH\/s, recorded on April 8.<\/p>\n

\"glassnode-studio_btc-mean-hash-rate-3\"
Source: Glassnode<\/a>.<\/figcaption><\/figure>\n

Public miners continued to expand their computational power in April. MARA’s connected hash rate reached<\/a> 57.3 EH\/s, an increase of 5.5% for the month.<\/p>\n

IREN reported<\/a> 40 EH\/s \u2014 a growth of approximately 8%. The company is closing in on the second-ranked CleanSpark<\/a> with 42.4 EH\/s (unchanged for the month).<\/p>\n

Analysts have identified a significant divergence<\/a> between Bitcoin’s price dynamics and hash rate as a potential risk to network security. CryptoQuant viewed the trend as a sign of strong underlying factors<\/a> for the leading cryptocurrency.<\/p>\n","protected":false},"excerpt":{"rendered":"

Publicly traded mining companies sold approximately 70% of the bitcoins they mined in April. These preliminary figures, based on reports from eight firms, were highlighted in TheMinerMag. Source: TheMinerMag. The publication tracks data from 15 public companies in the industry following Bitfarms’ acquisition of Stronghold and the cessation of monthly operational disclosures by Bit Digital, […]<\/p>\n","protected":false},"author":1,"featured_media":23831,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1150],"class_list":["post-23832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=23832"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/23832\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/23831"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=23832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=23832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=23832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}