Large mining pools are pursuing a hold strategy in the renewed bull market.
But against the backdrop of rising BTC prices, mining companies again switched to the HODL strategy. They do not sell mined coins and expect new price records.
Riot Blockhain said that at the end of September its supply of coins was 3,534 Bitcoin, having increased by 406 BTC over the month.
Riot competitor, Marathon Digital Holdings, reported 7,035 bitcoins to its balance, having mined 340.6 coins last month. In August, the company had 6,695 bitcoins.
Canadian Hut 8 Mining Corp joined the trend of accumulating BTC, and reported that all of its mined coins for the first autumn month were transferred to the reserve, in accordance with the strategy of storing mined crypto assets.
Subscribe to ForkNews in Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Chinese mining companies may be left without electricity
The Yinjiang City Industry and Commerce Administration, which enforces enterprise and consumer protection laws, issued a notice to local mining companies requiring them to register with the Yunnan Provincial Energy Supply Administration. Otherwise, their power supply will be cut off and operations will be automatically suspended.
Norwegian miners were left without subsidies
This decision was made against the background of the declining price of Bitcoin, due to which mining companies are forced to close due to lack of profit. According to a report, the Norwegian government has announced that the country's cryptocurrency miners will pay the usual electricity tax starting in the New Year.
