Crypto news

Bitcoin Miners Refuse to Sell After Halving and You Won’t Believe Why

BBG News
  • Bitcoin miners, post-halving, are sitting on their coins like a chicken with performance anxiety, resisting the urge to sell despite rewards drying up faster than my potted lavender in August. 🐓
  • Puell Multiple says “meh” and reserves are as stable as my sister’s third marriage, which—miraculously—suggests miners are eyeing bigger bucks before they cash out. 💍

the machines are hot, noisy, and absolutely not free to operate. Power bills, hardware, the occasional replacement hamsters for the wheel—it adds up. So when Bitcoin’s price gets sprightly, miners typically cash out, grinning all the way to the bank (or at least to the nearest hardware store).

But this time? Nada. Instead of selling, miners are gripping their coins like precious family heirlooms or that last slice of cold pizza: with possessive, irrational love.

It’s a whole new vibe. Miners have apparently decided current prices are the crypto equivalent of day-old bagels—no thanks. They’re holding out for something a little more… artisanal.

Bitcoin miner reserve data shows stability

Let’s talk hard data for a second. The miner reserves have basically flatlined, in a good way. From 1,808,315 BTC on December 25, 2024, to 1,808,674 BTC as of May 3, 2025, that’s a variance so tiny you’d miss it unless you squinted or had access to an electron microscope. (We don’t, but pretending to is half the fun.)

Translation: miners are not chucking coins onto exchanges like confetti at a disappointing New Year’s party. If you’re looking for signs of an imminent miner capitulation, you’ll have better luck reading tea leaves or horoscopes.

Historically, this kind of serene inactivity means one of two things: either we’re at the calm before a storm, or everyone’s fallen asleep at the wheel. Either way, buckle up.

Puell multiple data breakdown

The Puell Multiple—a metric with a name that sounds like a rejected Star Wars droid—also refuses to get dramatic. This little number measures daily mining revenue against the yearly average. If it shoots past 2, miners typically can’t resist the urge to dump and run. Sorry, no fireworks this time.

At today’s less-than-spicy reading, miners aren’t exactly partying, but they aren’t packing their bags, either. Traditionally, a low-key Puell and fat miner wallets translate into fertile ground for future price climbs. Hope springs eternal—and so do holding patterns.

At present, Bitcoin miners resemble those bizarre uncles at family reunions who refuse to leave even when the food runs out. As long as they’re HODLing, there’s hope this party isn’t over. Whether you should join them or run for the exits? Well, that’s your call. 🤷‍♂️

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2025-05-04 17:18

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