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| What is a bitcoin miner | Bitcoin miners ramped up BTC sales to acquire capital to upgrade machinery and prepare for the halving event, when rewards will be cut, a Bitfinex market report said. The halving will have an immense impact on miners' profitability, potentially pushing smaller, less efficient operations out of business or being forced to merge with larger companies to survive, the report explained. It allows anyone with internet access worldwide to make financial transactions that completely circumvent banks or other financial or government intermediaries. Bullish group is majority owned by Block. While overall outflows from miners have increased, Matthew Sigel, head of digital asset research at VanEck, pointed out that the degree of selling from each individual miner was dependent on their operational costs. UTC Feb. Farran Powell. |
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