World's Largest Bitcoin Miner Sells 1,000 Bitcoin In Three Months

Marathon Digital, one of the world’s largest Bitcoin mining companies, has sold 1,000 Bitcoin in the past three months, according to data from CryptoQuant.

The sale, which was worth approximately $67.5 million at the time, was likely made to cover expenses, according to Ki Young Ju, founder and CEO of on-chain data and analytics platform CryptoQuant.

The sale is the largest OTC (over-the-counter) trade volume recorded since late March.

Bitcoin miners have been struggling since the halving event on April 20, which cut the block reward in half, causing production costs to double. Marathon is known for holding a large portion of its Bitcoin and is not expected to make sales other than to cover expenses.

Bitcoin is currently trading at $67,479, according to CoinGecko data.

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