Miners of the first cryptocurrency have increased their reserves by 4000 BTC since April, despite declining revenues. At the same time, participants in the 'Satoshi era' segment have shifted to accumulation, according to a report by CryptoQuant.
Analysts noted that daily earnings of miners fell to $34 million — the lowest level since April 20, 2025. The reason is the decrease in transaction fees and the recent drop in bitcoin price. Over the last 10 days, the network hash rate has decreased by 3.5%.
Profit/loss stability of bitcoin miners. Data: CryptoQuant.
Total outflow of funds. Data: CryptoQuant.
CryptoQuant suggested that the trend of asset holding among miners is related to a high operating margin — about 48%.
Wallet owners with balances between 100 and 1000 BTC have increased their holdings by 4000 BTC since April. They now hold 65,000 BTC — the highest level since November last year.
Miners of the 'Satoshi era' have minimized their sales. In 2025, they sold only 150 BTC. For comparison, in 2024, the figure was almost 10,000 BTC.
Clean miner flows of the 'Satoshi era'. Data: CryptoQuant.
Historically, 'old' miners sold coins after a strong price increase, 'which indicated a possible market peak.'
Recall that since early June, miners of the first cryptocurrency have earned about $7 million from fees — only 0.97% of the total income of $722.8 million.
Source of the news forklog.com
