Bitcoin Miners Dey Sell 4,207 BTC Amid $112K Price Test
Di Bitcoin miner dem don sell off 4,207 BTC (~$485 million) inside 12 days as end Aug 23, dis na di fastest since December 2024. After e drop reach six weeks low, BTC come bounce back pass $112K support as network hashrate climb 7% reach near ATH of 960M TH/s. Miner profit don drop 10% for nine months due to rising difficulty and soft transaction demand, but di main rigs still dey make profit at $0.09/kWh. Big holders like MicroStrategy and Metaplanet don increase their reserves, balance out some sell pressure. Some operators, including TeraWulf, Iren and Hive, dey diversify into AI data centers to make revenue steady. Even though short-term risk dey from di Bitcoin miner sell-off, core fundamentals still strong, e mean say na profit-taking event, no be systemic wahala.
Neutral
Miner dem sell off usually dey put pressure wey go make BTC price drop for short term, but if price quick jump pass key support, plus hash rate dey increase and profit steady, e show say network still strong. Big operators dem dey collect and diversify into AI data centers to help soak the sell pressure. All dis one mean say the sell off na just to take profit, no be say system dey stress, so e go no really affect Bitcoin price path much.