Bitcoin mining firms have been selling newly minted Bitcoin to cover operational costs during a tough bear market. Hut8, Foundry, and Braiins are among the prominent mining companies that remain optimistic about Bitcoin and continue to hold substantial BTC reserves. The current mining climate has seen a decrease in profit margins and the need to upgrade mining equipment to keep producing BTC at a profit. Despite the challenges, industry participants believe in the potential upside for BTC’s price in the future.
AI Sentiment: Positive