Vincent Maliepaard, director of marketing at IntoTheBlock, revealed that the bitcoin miner reserve has decreased by about 20,000 BTC since June, and the bitcoin halving two months ago may have been a driver of the recent miner sell-off, as profit margins have been declining since then. CJ Burnett, chief revenue officer of Compass Mining, said that large mining companies are still actively purchasing the latest generation of mining machines to improve the efficiency, economy of scale and gross margin of mining machines.