Crypto Mining Firms Take Different Approaches to Selling Bitcoin
— Sell, Sold, Crypto, Riot, Bitcoin, Approaches, Mining, Selling, Firms, Computing — 1 min read
Hut 8 Mining has $70 million on its balance sheet and an uncorrelated computing business generating $1.6 million in revenue per month. Hut 8 would most likely only consider selling bitcoin if the asset’s price jumps well above its all-time highs. Riot Blockchain sold 300 of the 421 BTC it produced in June — gaining net proceeds of about $6.2 million — to help cover operational and other expenses. Bitfarms revealed last month that it had sold 3,000 BTC in a one-week span. Riot held roughly 6,654 BTC, as of June 30, but Hive said in the July 7 update that it seeks to maintain its bitcoin inventory levels, which stood at 3,239 BTC on July 6. Source