It’s Settled

Chart of the Day

Mining their own business. Being on the upside of the supply chain, miners may have far better insights into the market dynamics of the ’21st-century digital gold rush’ than your average HODLers. Truth is, they ain’t selling either. The ramped-up unloading of selling pressure in January, when the price was between $27k-32k, has waned to practically nothing. Remember miners’ revenue surpassing $1 billion for three months in a row? HODLing apparently worked well for them as cash on their balance sheet kept rolling, some even through stock issuance. Besides, the semiconductor supply crunch limits new joiners and in turn boosts profits to existing miners.