Miners Switch to Accumulating Bitcoin
Date: 2025-05-15 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
According to TradingView and Glassnode analysts, in May 2025, miners began selling mined bitcoins less frequently and focused on increasing reserves. If in April they had about 1,794,622 BTC in their wallets, then by mid-May the amount had increased to 1,797,330 BTC — an increase of about 0.15%, or 2,708 BTC.
Previously, miners actively got rid of mined coins to cover the costs of equipment and electricity. However, against the backdrop of the stabilization of the Bitcoin exchange rate at $100,000, the approach to asset management has changed: more and more players are deciding to hold the cryptocurrency, expecting further growth.
TradingView experts believe that this trend was unexpected for many investors. In particular, because it occurs simultaneously with the growth of the BTC price by almost 20% and the activation of the Hash Ribbon indicator, a signal traditionally considered a favorable moment for buying.
According to the statement of John Glover, the investment director of Ledn, holding bitcoins may be a more profitable strategy for miners than immediate selling. He explained that the cryptocurrency can be used as collateral for obtaining loans in fiat, which allows you to cover current expenses without losing possible profits from future rate growth. This approach also allows you to defer tax payments and earn extra money by lending BTC.
Glover noted that if the current trend of accumulation continues, this can strengthen the status of bitcoin as an analogue of "digital gold". Miners who refuse immediate sales can play a significant role in shaping the long-term trend in the crypto market.
At the same time, analysts at CoinShares have previously stated that mining is increasingly becoming unprofitable for smaller market participants. According to them, the industry, once considered highly profitable, is now a financial trap for small players. This further underlines the importance of a change in strategy among large miners who can withstand volatility and use bitcoin as an investment tool.
