BRN Analyst: Miners Seem to Be Accumulating Bitcoin

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Cointime2024/07/29 12:16

By:Cointime

BRN's chief analyst Valentin Fournier said that in addition to accumulating mining rewards, mining companies seem to directly purchase bitcoin from the market to increase their reserves. He added: "They triggered the HashRibbon signal, which is a long-term bullish indicator, indicating the end of miner capitulation and an increase in processing power for mining bitcoin."

One of the miners participating in large-scale bitcoin purchases is MARA, which recently renamed from Marathon Digital and announced on Thursday that it has purchased an additional $100 million worth of bitcoin.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Cryptopolitan•2024/11/24 03:44