Crypto Miners Unload Holdings Amidst Bitcoin's Price Surge

The recent surge in Bitcoin's price has offered a golden opportunity for crypto miners

Big players like Hut 8 and Bit Digital have seized this opportunity and sold a whopping $164 million worth of BTC last month

In addition, the "Bitcoin liquidation-to-production ratio" jumped from 70% to 104% in October

Following this BTC upsurge, miners not only kept what they mined but also sold some of their stash.