Miners such as Terawulf had a liquidation-to-production ratio of 105% in October

In the past three months, the amount of BTC sold by the top 13 cryptocurrency mining companies listed has exceeded their production for the first time. According to data from the Bitcoin mining research platform TheMinerMag, the liquidation-to-production ratio of mining companies such as Marathon Digital, Core Scientific, Argo Blockchain, Bitfarms, Bit Digital, Hut 8, Iris Energy, and Terawulf in October was 105%, which means they sold all mined coins and held assets. It is worth noting that some mining companies sell all the BTC they mine every month, but companies such as Marathon, Hut 8, Cipher, CleanSpark, and Bit Digital use a mixed funding strategy, and their liquidation volume in October was higher than in previous months. Bit Digital and Hut 8 sold 422 and 365 BTC respectively, with the highest individual ratio and a liquidation volume exceeding 300% of the monthly production.