I have a very huge GeoTIFF file (around 12GB).
Most of it is made with white spaces. So, I thought that if I removed these white spaces from it, the GeoTIFF file would reduce its size to something smaller than 12GB. After researching for a while, I found this solution:
gdalbuildvrt -srcnodata "0 0 0" virtualimage.vrt myTiffFile.tif
gdal_translate virtualimage.vrt outputTiffFile.tif
However, even though I can validate on QGIS that it has written No Data on whitespaces, the size of my GeoTIFF file is still 12GB. I'm not sure what's happening, can I reduce the size of a GeoTIFF layer by writing No Data to white pixels? If not, how can I reduce its size?

gdal_translate virtualimage.vrt outputTiffFile.tif -co compress:deflate -co tiled=yesand feel the difference. Tile the image by the same, it is always a good default with any bigger images. – user30184 Nov 25 '21 at 21:33