Bitcoin Miners Hold Steady Despite Record Prices in 2025
In 2025, Bitcoin miners, particularly those from the ‘Satoshi-era,’ demonstrated a notable shift in strategy by selling only 150 BTC even as the cryptocurrency achieved unprecedented highs. This behavior underscores growing miner confidence in Bitcoin’s long-term value proposition.
Changing Miner Strategies
Contrary to typical bull market patterns, large-scale miners are accumulating BTC reserves rather than selling, adding 4,000 BTC since April according to CryptoQuant data. The analytics firm notes this represents a significant departure from historical miner behavior during price rallies.
Market Dynamics and Miner Economics
Despite Bitcoin’s strong performance, miner revenues declined to two-month lows of $34 million on June 22, 2025. CryptoQuant attributes this to reduced transaction fees and temporary price corrections. Key observations include:
- 4,000 BTC added to miner reserves since April 2025
- Daily revenues bottomed at $34 million in June 2025
- Satoshi-era miners sold just 150 BTC versus 10,000 BTC in 2024
Expert Perspective
“The current miner holding pattern, especially among early adopters, reflects unprecedented confidence in Bitcoin’s fundamentals,” noted a CryptoQuant market analyst.
