![](\"https:\/\/s3.cointelegraph.com\/uploads\/2022-12\/2797f6f3-c6f9-46a8-a0bb-f14035659d96.png\")
<\/p>\nPublicly listed Bitcoin (BTC) miners sold off almost\u00a0all of the Bitcoin they mined throughout 2022, leading to a debate over whether the sales created “a persistent headwind” for the Bitcoin price or not.\u00a0<\/p>\n
Analyst Tom Dunleavy from blockchain research firm Messari shared the data in a Dec. 26 tweet, indicating that approximately 40,300 of the 40,700 BTC mined by Core Scientific, Riot, Bitfarms, Cleans Park, Marathon, Hut8, HIVE, Iris Energy, Argo and Bit Digital from Jan. 1 to Nov. 30 was sold off.<\/p>\n
The reserves held by mining firms have decreased considerably during the latter half of 2022, particularly throughout November, as the crypto industry reeled from the effects of the FTX fallout. <\/p>\n
<\/p>\n
Dunleavy believes that miners consistently selling off newly produced Bitcoin places downward pressure on the price of the leading cryptocurrency.<\/p>\n
However, some industry commentators such as BitMEX\u2019s former CEO, Arthur Hayes, believe the selling pressure created by the increased sales of Bitcoin miners is negligible.<\/p>\n
He opined in a Dec. 9 blog post that \u201ceven if miners sold all the Bitcoin they produced each day, it would barely impact the markets at all.\u201d<\/p>\n
According to Bitcoin Visuals, on Dec. 26 the daily trading volume\u00a0for Bitcoin was $12.2 billion. The outflow from miners on the same day, according to CryptoQuant, was 919 BTC ($15.35 million), which represents just 0.13% of the total volume traded. <\/p>\n
Miner’s reserves have rebounded slightly during December, increasing by nearly 1%. The figure contributes to the view shared in a Dec. 27 post by crypto analyst IT Tech that the situation for miners appears to be stabilizing.<\/p>\n