While Bitcoin, which set its sights on the record of 69 thousand dollars in November 2021, has once again managed to make a name for itself in the world financial markets, mining companies are selling BTC intensively.

According to information shared by on-chain tracking firm Glassnode, the number of BTC in mining companies’ wallets fell to the lowest level since July 2021. From 1.83 million (October) to 1.812 million BTC.

They have recently focused on investment

Mining companies are known to buy more efficient machines with the BTC they sell. The new and efficient Bitcoin mining devices are known for their faster and more powerful performance, while requiring less electricity.

Mining companies such as RIOT, Marathon and Cleanspark have recently acquired new machines from companies such as Bitmain and MicroBT, and have also signed deals for the coming summer months.

After the Bitcoin halving, which is expected to take place in mid-April, the reward miners receive from the system will drop from 6.25 BTC to 3.125 BTC per block.

Bitcoin surged by more than 47% in February, surpassing December 2020, which was the last major monthly gain.