Miners have endured debt and high operational costs as a result of the falling market. But could this change?
Bitcoin miners’ balance has reached a four-year high. According to Glassnode’s latest data, the figures have surpassed 1,845,303 BTC.
Bitcoin Miners Hodling Again
From the great Chinese migration in 2021 to the ongoing bear market, the miners of the BTC network went through many challenges, including a shift in profitability. However, it appears that they are “hodling” again. The trajectory for the total supply held in miner addresses has been consistently upwards since the beginning of the year despite minor setbacks along the way, as per the data.