At the Bitmain World Digital Mining Summit (WDMS) in Hong Kong, the common narrative around miners’ handling of block rewards and its effect on Bitcoin’s price was challenged. Jeff Taylor of Core Scientific revealed that they have built a 10,000 Bitcoin hoard and sell their Bitcoin production each day. This insight debunked the belief of miner-induced selling pressure being a sign of market distress. Other panelists like Taylor Monnig of CleanSpark and Will Roberts of Iris Energy shared their own strategies. Monnig pointed out their conservative stance during the bull market, while Roberts shared their daily Bitcoin selling strategy since inception. The panelists also discussed the accuracy of certain on-chain metrics like the hash ribbons indicator by Charles Edwards. Nazar Khan of TeraWulf voiced skepticism, stressing the evolving nature of miners’ financial strategies due to market dynamics over the years. This highlights the need for a more nuanced understanding and possibly refined analytical tools to gauge the crypto market’s pulse accurately.

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Information	Details
Geography	Asia
Countries
Sentiment	neutral
Relevance Score	8
People	Will Roberts, Nazar Khan, Jeff Taylor, Taylor Monnig
Companies	Iris Energy, Bitmain, Core Scientific, TeraWulf, CleanSpark
Currencies	Bitcoin, Ethereum
Securities	None