According to Glassnode, since July 5, there has been an increase in the accumulation of cryptocurrency among miners.
Bitcoin miners have resumed the accumulation of cryptocurrency for the first time since June. This is indicated by the data of the analytical service Glassnode.
As you can see in the graph, miners stopped storing mined bitcoin and started selling them at the beginning of June, when a mining ban was introduced in four Chinese provinces. On the contrary, since July 5, there has been an increase in the accumulation of bitcoin by miners.
Also, according to Glassnode, and moved to restore heshreyt main cryptocurrency, which in June declined by more than half.
This happened due to the fact that more than 70% of miners in China were forced to turn off their equipment to move to other countries. Activities suspended and the largest manufacturer of equipment for mining – the company Bitmain.
Bitmain also offered Chinese miners a new service that can help reduce the time it takes to deploy a mining farm abroad from three weeks to four days.
The manufacturer is ready to help miners with the construction of data centers, registration of activities and hiring personnel.
In May, the PRC authorities called for stricter regulation of mining and crypto trading. After that, bans on the mining of digital assets were introduced in four Chinese provinces: Sichuan , Yunnan , Qinghai and Xinjiang .
On June 21, the People’s Bank of China held a meeting with the country’s five largest banks and the Alipay payment system and warned financial institutions against cryptocurrency transactions.
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