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Bitcoin miner reserves hit lowest level since Feb 2010

Bitcoin miner reserves are at their lowest level since February 2010, showing miners offloading their holdings, according to data from IntoTheBlock.

See related article: Bitcoin mining difficulty drops 2% after reaching all-time high in last adjustment

Fast facts

  • There were 1,908,672 BTC in miners’ reserves on Friday, down from 2,030,434 BTC at the end of last year.

  • Bitcoin miner reserve is an indicator of the amount of Bitcoin held in miners’ pools and wallets.

  • Bitcoin mining difficulty, which measures how hard a miner has to work to verify transactions, dropped 2.14% last Wednesday, after reaching an all-time high in the previous adjustment on Sept. 14, according to data from BTC.com.

  • Bitcoin hashrate, the level of computing power used for mining, was at around 263.7 million terahashes per second on Friday, up from 209.51 million at the beginning of this year, data from IntoTheBlock showed.

  • Bitcoin was trading at US$19,225, up 0.41% in the past 24 hours at 7:00 p.m. in Hong Kong, according to data from CoinMarketCap.

See related article: Bitdeer leads US$250 mln fund to acquire assets from distressed miners: report