Exchanges are seeing record inflows of BTC from Bitcoin miners. The figure surpasses the mark of 6 years ago. This type of sell-off by miners on the network has historically played a role in the bearish behavior of the top cryptocurrency.

According to data from CryptoQuant, miners on the network sent exchanges 28,753.65 BTC on Jan. 9, equivalent to $1.32 million. This is more than the average number of BTC that are issued over 30 days (27,000 BTC). On January 10, another high flow of BTC to exchanges was recorded, for 20,787.7 BTC.

Most of these potential bitcoin sales come from mining company F2Pool. Bradley Park, an analyst at F2Pool, said that the move is due to the fact that miners on the network are facing higher costs, mainly as a result of the acquisition of new equipment to mine Bitcoin, ahead of the halving, which reduces the reward for securing the network by half.

Park noted that in the coming months, the company plans to move its facilities to Kazakhstan and renew its equipment fleet with Antminers T21, a state-of-the-art model manufactured by Bitmain that provides between 190 TH/s and 233 TH/s, with an efficiency of less than 20J/Th.