Bitcoin miners now hold 1.856 million BTC in 2 years – new data

Miners go from sellers to hodlers as the worst of the June capitulation phase seems to pass.
Market news
Bitcoin (BTC) miners now own more BTC than at any time since 2020 as the impact of the turmoil of the past few months fades.

According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased significantly in July.
Miners keep stacking sats
In the latest sign that miners are recovering from recent price weakness, the amount of BTC in their wallets has reached a new multi-year high.

As originally reported by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance stood at 1,865,272 BTC as of July 29. The beginning of August saw a slight decline, with the total as of August 3 being 1,864,842 BTC.

Between July 6, when reserves reached a local low, and the peak on July 29, the miners' wallet balance increased by 0.37%, or 6,885 BTC.

Bitcoin Miner Reserve Chart. Source: CryptoQuant
Miners struggled as BTC/USD fell to its lowest since December 2020, then recovering around 38% from a low of $17,600.

Their problems were clearly visible in the fundamentals of the network, with the hash rate and difficulty decreasing to reflect the decrease in miner participation.

As Cointelegraph reported, difficulty will see its first increase in months this week, while Wuestenfeld notes that hash rate has yet to make a noticeable comeback.

Bitcoin Network Fundamentals Overview (Capture 'screen). Source: BTC.com
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Bitcoin miners now hold 1.856 million BTC in 2 years – new data

Miners go from sellers to hodlers as the worst of the June capitulation phase seems to pass.

Bitcoin miners now hold 1.856M BTC in 2-year high — new data

Market news

Bitcoin (BTC) miners now own more BTC than at any time since 2020 as the impact of the turmoil of the past few months fades.

According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased significantly in July.

Miners keep stacking sats

In the latest sign that miners are recovering from recent price weakness, the amount of BTC in their wallets has reached a new multi-year high.

As originally reported by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance stood at 1,865,272 BTC as of July 29. The beginning of August saw a slight decline, with the total as of August 3 being 1,864,842 BTC.

Between July 6, when reserves reached a local low, and the peak on July 29, the miners' wallet balance increased by 0.37%, or 6,885 BTC.

Miners struggled as BTC/USD fell to its lowest since December 2020, then recovering around 38% from a low of $17,600.

Their problems were clearly visible in the fundamentals of the network, with the hash rate and difficulty decreasing to reflect the decrease in miner participation.

As Cointelegraph reported, difficulty will see its first increase in months this week, while Wuestenfeld notes that hash rate has yet to make a noticeable comeback.