CryptoSlate has analyzed nine of the top Bitcoin mining holdings.
As 2022 began, Bitcoin holdings and production increased as ASICS looked for new homes due to companies bringing on cheap debt in 2021.
BTC holdings peaked in May. However, a summer of stress saw distribution as energy costs increased.
Distribution was the name of the game in the second half of 2022. However, less than 60k #Bitcoin got sent to exchanges in 2022.
2023 has begun with the least amount of sell pressure from miners in 3 years, with only 88 Bitcoin sent to exchanges (7DMA).
![Bitcoin: Transfer Volume from Miners to Exchanges [BTC] - All Exchanges (7d Moving Average)](https://cryptoslate.com/wp-content/uploads/2023/01/glassnode-bitcoin.jpg)
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