IntoTheBlock: Since June, BTC miner reserves have decreased by approximately 20,000 BTC

According to ChainCatcher, data disclosed by Vincent Maliepaard, Marketing Director of IntoTheBlock, since June, Bitcoin miners' reserves have decreased by about 20,000 BTC. The Bitcoin halving two months ago may be a driving factor behind the recent miner sell-off, as profit margins have been declining since then.

CJ Burnett, Chief Revenue Officer of Compass Mining, stated that large mining companies are still actively purchasing the latest generation of mining machines to improve mining efficiency, economies of scale, and gross margins.