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This is Good for Bitcoin. Miners not selling and even borrowing against the asset.

This is Good for Bitcoin. Miners not selling and even borrowing against the asset.



View Reddit by Teh_ogreView Source

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2 Comments

  1. tldr; Two of North America’s largest bitcoin miners, Marathon Digital and Hut 8 Mining, are choosing to hold all of the bitcoin they are producing. Marathon produced 340.6 bitcoins during September, increasing its total bitcoin holdings to 7,035. Hut 8 mining mined 264 bitcoin in September and is choosing to keep all of it.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. $121M / 30k = $4k per top Antminer in August, when the retail price was $8k (I remember cause I bought some then…)

    So, -50% discount for fat boys – and let Average Joe try to compete there…

    Agree or not – but that’s not the Satoshi’s vision, for sure…

    [“the big attraction is that anybody can download Bitcoin and start mining”](https://cointelegraph.com/news/satoshi-invented-gpu-mining-to-defend-the-network-says-early-dev) (Satoshi)

What do you think?

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