Sure, Bitcoin miners are selling their rewards, but it’s not necessarily bearish.
foreshadows pending sell pressure on Bitcoin price and possibly reflects distress among miners.
“Core Scientific might be the poster child for the HODL strategy. We built a 10,000 Bitcoin hoard and we rode it up to the top, and then it led to some financial struggles that we are trying to emerge from now. So what we’re doing today, we sell our Bitcoin production each day. I think it goes back to those three things.
“I think that the business of being an analyst is an extremely difficult one because by definition you’re probably wrong. Besides that, I think that historically that might have been a good measure, historically when we were recognizing margins of 80% plus, there wasn’t a need to sell, you didn’t need to monetize every Bitcoin that was produced. I think as we look at most of the companies today, given our growth plans that we have.
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