Europe's largest crypto miner Northern Data announced that it has sold $128 million worth of its Bitcoin (BTC) and Ethereum (ETH) holdings between May and June 2022.
<h2>Latest Crypto Miner to Sell Its Holdings</h2>
According to a <a href="https://www.accesswire.com/707807/Northern-Data-Reports-on-Operations-for-June-2022" target="_blank" rel="nofollow noopener">press release</a> from today, Northern Data produced a total of 239 Bitcoin (BTC) in June, a decrease of roughly 19% from the previous month.

Additionally, the company reported on selling its <a href="https://www.cryptoknowmics.com/news/bitmain-to-launch-antminer-e9-despite-the-ethereum-merge-edging-closer/" target="_blank" rel="noopener">Ethereum</a> (ETH) and <a href="https://www.cryptoknowmics.com/news/graff-diamonds-pays-7-5m-bitcoin-ransom-to-russian-hackers/" target="_blank" rel="noopener">Bitcoin</a> (BTC) holdings for approximately EUR 126 million ($128 million) between May and June.

The sold amount of Ethereum (ETH) includes 48,616 ETH at an average price of $1,745 per ETH while 1,591 BTC was sold at an average price of $30,403 per BTC.
<blockquote><em>"By selling our ETH and BTC holdings between May and June at prices well above the current levels, we enhanced our liquidity position. Until further notice, we will also sell all mined coins on a day-to-day basis to focus on cash generation. We expect great opportunities to arise in this environment and we are ready to take advantage where we see fit to our strategy,"</em> Aroosh Thillainathan, CEO of Northern Data said in a statement.</blockquote>
The announcement is just the latest sign that major crypto miners are selling their holdings to try to survive a struggling market. Just yesterday, Core Scientific, one of the largest cryptocurrency mining companies announced in a monthly update that it sold 7,202 Bitcoins for about $167 million.

Bitcoin Miner Northern Data Sold $128M Worth of BTC and ETH Holdings

Crypto miner Northern Data announced that it has sold $128 million worth of its Bitcoin (BTC) and Ethereum (ETH) holdings between May and June 2022.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Bitcoin Miner Northern Data Sold $128M Worth of BTC and ETH Holdings

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