Glassnode, which is one of the most prominent and trusted crypto-analytics firms has revealed promising stats about Bitcoin (BTC). The firm has shared some very promising stats and figures for the Bitcoin (BTC) mining sector.
The market analysis firm has revealed that in the last 30-days, on a daily average, the Bitcoin (BTC) miners are making $50 million. Glassnode has also shared the daily average figures that the Bitcoin (BTC) mining firms were making in the year 2020.
According to Glassnode, the Bitcoin (BTC) mining firms were making $12 million per day on average. In the report, Glassnode also highlighted Bitcoin (BTC) miners’ trend with respect to accumulation. At the time of writing, the price of Bitcoin (BTC) is $58,556 and its market capitalization is above $1 trillion.
Glassnode has reportedly shared its findings around Bitcoin (BTC) through the Twitter platform. The CEO and co-founder of Glassnode, Rafael Schultze-Kraft was the one who shared these stats around Bitcoin (BTC).
Kraft stated that since 2020, the amount of Bitcoin (BTC) that the miners used to mine has increased four times in the year 2021. He stated that the miners have been able to do it even when the subsidy for the digital has been halved. He also stated that the coins that the miners are mining are not planning to sell t hem any time soon.
According to Kraft, the miners are planning to hold on to the Bitcoin (BTC) they are mining and keep them for the long term. They are waiting to see exactly far and how high Bitcoin (BTC) goes and then make a move if the situation suits them.
He stated that back when the price of BTC had hit the $40k mark, they saw a significant amount of outflow for the digital asset. However, they have not observed such outflow ever since Bitcoin (BTC) regained its worth and cross the $50k mark.
In March, as Bitcoin (BTC) hit the $61.7k mark, it experienced a price correction but the drop wasn’t that big as compared to the previous ones. Even now, Bitcoin (BTC) is hovering between the $58k and $59.8k figure.
Many analysts have now started pointing out that Bitcoin (BTC) price has now started stabilizing. There are many who say that Bitcoin (BTC) is no longer the volatile currency it used to be back in the days.
As more adoption and investments come to the platform, it becomes more and more stable. There are chances that soon, Bitcoin (BTC) prices would become as stable as that of gold or fiat currencies.
In the light of the above, many companies and even countries have started moving towards mining Bitcoin (BTC) instead of buying them from exchanges or other sources.