Coinbase Says Miners’ Gross sales of Newly Minted Bitcoins Don’t Add Important Market Stress

In instances of market upheaval and a falling bitcoin value, margins compress throughout the board, and drive extra miners to turn into internet sellers, the notice stated. Given the worth drop and the ensuing lack of profitability, the financing atmosphere for the mining trade has “shifted materially” since late final yr, and elevating capital within the public markets has turn into very tough, Coinbase stated.