Despite Bitcoin's Price Highs, Onchain Data Shows BTC Miners Are Not Spending More Than Usual

Despite Bitcoin's Price Highs, Onchain Data Shows BTC Miners Are Not Spending More Than Usual

THELOGICALINDIAN - The cryptocurrency abridgement has been college in amount than anytime afore as bitcoin has affected an alltime amount aerial at 24298 per assemblage Regardless of the alltime amount highs the worlds bitcoin miners are not spending added bitcoin than accepted according to onchain statistics Bitcoin miner address has been college during the balderdash run but additionally lower than the 2024 top

Speculators accept that back the amount of bitcoin (BTC) rises, bitcoin mining operations will advertise added coins. However, while BTC has affected a new best aerial (ATH), miners are not affairs added bitcoin than accepted according to abstracts from onchain charting sites like Cryptoquant and Glassnode. On December 22, the onchain advisers from Glassnode explained how miners are not spending added than usual during the ATH.

“Despite the contempo rally, Bitcoin miners are not spending added BTC than usual,” Glassnode said on Tuesday. “The Miner Address Multiple, which shows back BTC miner address is aerial with account to its actual average, is far from antecedent acme and alike beneath the 2019 bounded top.”

Despite Bitcoin's Price Highs, Onchain Data Shows BTC Miners Are Not Spending More Than Usual

Since the halving and the balderdash run that followed a few months later, bitcoin miners accept been profiting a abundant deal. Afore the halving, it was estimated that miners charge BTC prices to be about $12,500 to breach alike at revenues acquired afore the halving.

The all-embracing hashrate is actual aerial at 139 exahash per additional (EH/s) as 14 mining operations are point hashrate at the BTC chain. With prices aloft the $23k handle, bitcoin miners and alike earlier bearing mining rigs like the S9 are seeing cogent profits.

At the time of publication, 18,579,969 BTC are in apportionment today and so far that’s 88.48% of the 21 actor accumulation cap. BTC’s aggrandizement per annum has alone appreciably to 1.78% afterwards captivation a amount of aloft 3.6% afore May’s halving.

On boilerplate $20,961,900 account (at today’s barter rates) of BTC is issued by miners every day at 144 blocks per day. Yesterday 147 BTC blocks were begin and 2,037 blocks were begin during the aftermost 2 weeks at 6 blocks per hour.

While the BTC coinbase rewards accept a two-week boilerplate of $146,046 per block the boilerplate accumulated cardinal of fees per block is 0.81 BTC or $18,837. Glassnode’s onchain stats appearance that entities are captivation assimilate bill longer, according to the “realized hodl ratio” during the aftermost seven days.

In accession to abstracts from Glassnode, miner address stats from Cryptoquant indicates that bitcoin miner affairs has not added a abundant accord with BTC prices so high. Cryptoquant advance abstracts from above BTC mining pools like Antpool, Poolin,, F2pool, Viabtc, Slush, Dpool, Bytepool, and others alongside the abate alien mining pools as well.

What do you anticipate about miners captivation assimilate their anew minted bitcoins? Let us apperceive what you anticipate about this accountable in the comments area below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Glassnode,