Miners adjusted their operations after the Halving event

According to Marathon's monthly report, “the company sold 390 Bitcoin (BTC) in May, representing over 63% of its production of 616 BTC during the month. At the close of May, Marathon had USD 290.4 million in cash and cash equivalents on its balance sheet."

Information disclosed by Ana Pereira stated that, “The large volume of BTC sales in May stood out compared to figures from other miners. Riot Platforms, for example, disclosed no BTC sales in May, while its production reached 215 BTC. Meanwhile, CleanSpark produced 417 BTC last month, but sold only a small portion of 2.43 BTC."

Another tidbit, “In May, we mitigated the impact of April's halving event by increasing the number of blocks won, which resulted in the production of 616 Bitcoin, a decrease of only 27%,” said Fred Thiel, president and CEO of Marathon Digital"

Importantly, “Marathon is exploring overseas expansion. The company recently announced a partnership with the Ministry of Energy and Petroleum of the Republic of Kenya to optimize renewable energy projects throughout the country. Another move includes a pilot project in Paraguay, with the goal of optimizing its energy structure."

Finally, “Bitcoin miners can help optimize energy infrastructure by acting as flexible loads that stabilize the grid. They can quickly adjust their energy consumption according to grid demands, absorbing excess renewable energy when supply is high and reducing consumption during times of peak demand"

Cointelegraph. Largest Bitcoin mining firm sold 63% of mined BTC in May. Link

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