Mining companies, which have been preparing for the halving, which will take place in about 10 days, since last year and have spent hundreds of millions of dollars for both new and much less electricity-consuming devices, have started to move slowly to the “HODL” strategy.

According to the information provided by the American research company BTIG, major mining companies such as Riot Blockchain, Marathon Digital and Cleanspark went to a major reduction in Bitcoin sales in the first quarter of 2024.
Cleanspark sold only 13 BTC

Information in BTIG’s Crypto Mining 29 report showed that Cleanspark sold only 13 BTC as of the first quarter. In the previous quarter, this figure was 1257. For Marathon, this figure was 730 BTC. Marathon had sold 2365 BTC in the previous quarter. Riot Blockchain, which sold 212 Bitcoin in total, did not sell in February and March. That means all sales were made in January.

BTIG also stated that despite the sharp rise in Bitcoin, the shares of mining companies did not increase or even declined, the reason for this is that the interest is actually moving to Bitcoin ETFs rather than these companies.

The halving in Bitcoin is expected to take place on 20-21 April.