The main dishes to remember:
-
Bitcoin minors sold $ 485 million in BTC during a 12 -day period ending on August 23.
-
Despite the minors who sell, the Bitcoin network has chosen and the fundamentals remain resilient.
Bitcoin (BTC) recovered the bar of $ 112,000 on Thursday, recovering at a low time of only six weeks two days before. Despite the rebound, the traders remain uncomfortable because the bitcoin minors have unloaded parts at the fastest rate in nine months. The question is whether it indicates the start of deeper problems or other factors lead to recent outings.
The minor portfolios followed by Glassnode have regular discounts between August 11 and August 23, with little sign of renewed accumulation since then. The last section of coherent withdrawals exceeding 500 BTC per day was back on December 28, 2024, after Bitcoin failed to maintain more than $ 97,000.
During the last sale, minors discharged 4,207 BTC, worth around $ 485 million, during the 12 -day period ending on August 23. This is compared to a previous accumulation phase between April and July, when minors added 6,675 BTC to their reserves. The sales of minors now amount to 63,736 BTC, valued at more than $ 7.1 billion.
Although these flows are relatively low compared to business allowances such as Microstrategy (MSTR) and Metaplanet (MTPLF), they tend to fuel market speculation and FUD. If minors are faced with tighter cash flows, the sale of pressures could degenerate unless profitability improves.
In the past nine months, Bitcoin has won 18%, but the profitability of minors has dropped by 10%, according to Hashrateindex data. The increase in mining difficulty and the lower demand for onchain transactions weighed on the margins. The Bitcoin network continues to adapt to supporting an average block interval of 10 minutes, but profitability remains a concern.
The Bitcoin hashprice index is currently at 54 pH / seconds, against 59 pH / second a month ago. Despite this, minors have little reasons for complaining: the indicator has improved considerably of the levels seen in March. According to Nicehash data, even S19 XP Plates-Forms from Bitmain at the end of 2022 remain profitable at $ 0.09 per kWh.
Bitcoin minors are faced with AI competition but remain resilient
A disappointment of investors stems from a growing change towards artificial intelligence infrastructure. This story gained ground after Terawulf (WULF) concluded an agreement of $ 3.2 billion with Google in exchange for a 14%stake. The funds will be used to extend the Campus of the Terawulf AI Data Center in New York, planned to launch operations in the second half of 2026.
In relation: Bitcoin to reach $ 1.3 million by 2035 while institutions stimulate demand – Bitwise
Other minors follow a similar pivot. The Australian company Iren, formerly known as Iris Energy, has accelerated the acquisition of GPU Nvidia and built an AI data center for Liquid in Texas, as well as a new site in British Columbia which will contain up to 20,000 GPU. Meanwhile, Hive, previously Hive Blockchain, has started $ 30 million to extend the operations powered by GPU in Quebec.
Despite the buzz around AI, the Bitcoin fundamentals remain solid. Network Hashrate is approaching a record level at 960 million Th / seconds, up 7% in the last three months. This force thwarts the fears of the net outings of minors or the lack of profitability in the sector.
There is no evidence that minors are subject to immediate stress to liquidate positions, and even if the sale continues, entries in business reserves are more than capable of countering the effect.
This article is for general information purposes and is not intended to be and must not be considered as legal or investment advice. The points of view, the thoughts and opinions expressed here are the only of the author and do not reflect or do not necessarily represent the opinions and opinions of Cointellegraph.