IT Tech
Bitcoin miners - update
Charts descriptions. 1. š“Miner Outflow - outflows from miners wallets. š¢Miner Inflow - inflows to miners wallets. š Miner Reserve - BTC reserves of all miners. White line on the bottom - miner to Exchange flow 2. Mining difficulty - The mean difficulty of mining a new block. 3. Miner selling power - Total miner outflow divided by total miner supply (30-day moving average, log-scaled). 4. Hashrate 7D MA - The mean of hashes that miners calculate per second across all miners in the network. Nov 2022 due to FTX bankrun we observed dump of miner reserves. However 12 Dec 2022 reserves start increasing a little bit which mean miners are in accumulation not i distribution mode lets say. Hashrate is decreasing currently which means that the performance of the network is decreasing so miner difficulty is increasing. Despite this miner selling power is decreasing which means less selling pressure from miners too. Miners situation looks stable now. However still need to monitor the situation