Miners' Bitcoin Holdings Hit Lowest Level in 12 Years

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Bitcoin miners might be facing their most disruptive halving event to date

The reserves of major mining pools, which include such major names as Viabtc, Bitfury, Poolin, Antpool, Binance, currently stand at 1.92 million BTC, according to IntoTheBlock. Currently, the hashrate stands at 624 EH/s after peaking at 714.89 EH/s on March 24.

During Bitcoin's early days, mining rewards accounted for virtually all of Bitcoin's on-chain volume. However, their share dropped below 1% following the first halving in 2012. As of now, miner rewards account for an infinitesimal 0.08% of the total on-chain volume, and that share is expected to further drop tomorrow.

 

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