Major U.S. Mining Companies Scale Back Bitcoin Holdings

U.S. publicly traded mining companies are showing a shift in strategy, as several prominent firms like Mara, Cleanspak, and Riot have recently reduced their Bitcoin holdings. These decisions stand out as atypical, as miners traditionally haven’t significantly influenced Bitcoin prices through selling pressure. However, according to Bruce from MSX, who shared insights on X regarding this matter, the reduction suggests a collective consensus. Bitcoin’s price tends to be in alignment with its perceived value, leading to fluctuations around that value.