Bitcoin miners now hold a record 1.856M BTC — new data
Miners go from sellers to hodlers again as the worst of June's capitulation phase seems to pass. Bitcoin (BTC) miners now own more BTC than at any time in history as the impact of the past months' turbulence wears off.According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased dramatically in July.Miners keep stacking satsIn the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh all-time high.As noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272....
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Bitcoin miners hold on to a lot of the BTC they mine; they are called the “original whales” for a reason. Here’s what the data says regarding which of the publicly listed mining companies hold the most coins. Why Do Bitcoin Mining Companies Keep BTC Treasuries? Before looking at the numbers, one question arises first. […]
Miners determine more of bitcoin price than most investors understand. The price at which miners are willing to sell usually correlates with how much profit that they can make from selling the coins that they have mined. Depending on the price of the asset, miners usually choose to sell or hold it. This could influence the market price of bitcoin. Related Reading | Number Of Short-Term Bitcoin Holders Hits All-Time Low, How This Affects The Price Profitability is the major reason for mining. But when profitability goes down, miners either sell and cut their losses, or the other....
In the world of Bitcoin mining, the concept of decentralization versus centralization has been a subject of ongoing debate. Recent data from Hash Index has shed new light on this discussion by revealing that public miners make up just 28% of Bitcoin’s global hash rate. This statistic challenges the notion that miners hold central control […]
Bitcoin miners are finding it extremely hard to continue their operation as the cost of production has exceeded the profit. The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low.The deteriorating market conditions have also affected Bitcoin (BTC) mining profitability adversely, forcing miners to liquidate their BTC holdings.New data from Arcane research shows that public Bitcoin mining firms sold 100% of their BTC production in May compared to the usual 20-40% earlier.In the....
I'm just not a big fan of "miners". No, not the miners themselves but the word itself may be a negative as bitcoin strives for popularity. The word throws us for a loop by taking us back to the days of gold mining and gold coins. So, naturally, bitcoin must be mined like gold but this clearly is a bad word choice. The word means physical work, like when they dug gold out of the ground and refined it with hammer and chisel. Bitcoin miners are not miners at all. They are community record keepers. Imagine if we would have come out of the gate with the bitcoin protocol, releasing periodic....