Cryptocurrency analyst Joao Wedson has warned that miners could be compelled to sell their Bitcoin holdings in 2025, citing escalating challenges within the industry. Despite Bitcoin prices remaining high, Wedson points out that miners’ earnings are still significantly below peak levels seen in 2017 and 2021. He attributes this to increased operational costs including rising hash rates and minimal on-chain transaction volumes since 2022. 30-day average revenue/hash ratio has been compared against the 365-day average to reveal the Mining Equilibrium Index (MEI) level, currently at 1.06. While exceeding the critical 0.5 threshold, it remains well below peaks seen in previous years. Wedson highlights that miners may face pressure to sell Bitcoin if profitability struggles to cover operational expenses such as employee costs, electricity, and infrastructure. Further details are available in the full article.