- July 11, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Quick Take
The Bitcoin Micropig has recently put together an informative chart showcasing the Bitcoin holdings of different mining companies from January 2022 to June 2023.
On average, these companies tend to hold around 75% of their Bitcoin, a commonly known metric referred to as the “HODL” rate. “HODL” stands for “Hold On for Dear Life” and is a term used in the cryptocurrency community to describe the act of holding onto a cryptocurrency instead of selling it.
When we delve into the aggregated data, we find that Bitcoin miners collectively possess a total of 33,370 Bitcoins. Among them, Marathon emerges as a standout, with an impressive holding of 12,538 Bitcoins, maintaining a perfect 100% HODL rate.
Following closely behind Marathon are RIOT, Hut 8, and HIVE, holding 9,136, 7,250, and 1,957 Bitcoins, respectively.
Examining the past year’s trends, we observe that the overall Bitcoin holdings of miners have remained relatively stable. This stability is a positive sign, suggesting that miners have held onto their Bitcoin even during the market’s most challenging periods. However, this stability also implies potential selling pressure if the price of Bitcoin continues to rise.
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