Crypto Miners Are Selling Bitcoin With Prices Near One-Year High

Bitcoin miners, many of whom have traditionally held onto the cryptocurrency after creating the digital assets, have been selling the tokens during the current rise in prices.

The percentage of miner revenue sent to exchanges hit all-time highs in the past few weeks, to according to digital asset manager Grayscale’s June monthly newsletter, citing data from crypto analytics firm Glassnode.

“I think many of these miners learned their lessons in the past two years. Back then, they liquidated coins in the bear market when Bitcoin’s price was low and they really needed the cash,” said Colin Harper, head of ...