According to the latest research data from blockchain analysis firm Arcane Research, the liquidation volume of Bitcoin mining companies in June was nearly 4 times higher than the output volume.
From January to April 2022, Bitcoin mining companies only sold 20-40% of the BTC output, during which miners have been hoarding. But things changed after May, when the BTC price fell from $40,000 to $30,000 that month, before falling further.
Throughout June, Bitcoin miners liquidated a total of about 14,600 BTC, almost four times the total output of 3,900 BTC, of which Core Scientific and Bitfarms were the miners with the largest liquidation share. Core Scientific sold nearly 10,000 BTC. There are only 1,959 holdings left.
Bit Farm dumped 3,353 BTC, while NorthernData emptied all of its BTC and ETH holdings in May and June.
Marathon and Hut8 did not sell in May and June, and are currently the miners holding the most BTC. The former has 10,055 BTC on its balance sheet, Hut8 has 7,405 BTC, and Riot ranks third with 6,654 BTC.