EddieJayonCrypto
27 Jun 25
Bitcoin miners are holding onto their assets despite daily revenues falling to $34 million, the lowest since April 20. This decline is linked to reduced transaction fees and decreased network activity, as investors treat Bitcoin more as a store of value than a payment method. Miner outflows to excha...
Bitcoin miners are retaining their holdings despite a sharp decline in daily revenues, which have fallen to $34 million—the lowest since April 20. This revenue dip is primarily due to reduced transaction fees and diminished network activity, reflecting a shift in investor behavior toward viewing Bitcoin more as a store of value than a transactional currency.
Miners’ reluctance to sell is underscored by solid operating margins, estimated around 48%. This financial health allows miners to hold on to their Bitcoin rather than liquidate assets to maintain profitability. Supporting this stance, the volume of Bitcoin moving from miner wallets to exchanges has plummeted from 23,000 BTC in February to a mere 4,000 BTC by late June, signaling strong confidence and a limited desire to cash out.
Furthermore, Bitcoin reserves held by wallets containing between 100 and 1,000 BTC have grown from 61,000 BTC in March to 65,000 BTC by June, reaching the highest levels since November 2024. This accumulation trend among miners reflects a strategic bet on longer-term value appreciation rather than seeking immediate liquidity amidst the current market conditions.