In April, mining companies were forced to sell 115% of the mined bitcoins in the market, which became the maximum indicator from the end of the 2022 bear cycle, the Theminermag platform experts said.

According to analysts, the reason for the sale of a record number of bitcoins, including reserves, was a decrease in mining. Despite the achievement of the first cryptocurrency of the mark above $ 111,800, the cost of hash (miners per unit of computing power) remained low – $ 55 per petsh per second (PH/S).

Increasing the complexity of the network and low commission fees for transactions exert pressure on miner yields. They changed the strategy for purchasing equipment, experts said.

Several companies have issued an agreement with the supplier of Bitmain devices, according to which they pay for new equipment with bitcoins with the possibility of redemption of coins at a fixed price. This makes it possible to minimize risks in case of further growth in the price of the asset, the specialists of Theminermag explained.

In general, the shares of bitcoin mainers affected in the first quarter of the year were partially recovered in the market-some grew by more than 60% only in April. However, only Cleanspark and Mara Holdings have shown positive dynamics since the beginning of the year, analysts said.

Earlier, the Legislative Assembly of Nebraska approved a bill, which introduces restrictions on cryptocurrency mining for mining companies consuming more than 1 MW of electricity.