Note that the rise in interest in Bitcoin is indeed noticeable. In particular, here's a chart by Glassnode analysts, where the number of addresses with balances between 1 and 10 BTC is marked in orange. The figure now reaches 1.68 million bitcoins.


Volume of wallets with 1 to 10 bitcoins

Moreover, more and more short-term Bitcoin investors turn into long-term investors, which means that they are keeping their bitcoins for at least 155 days and will not be willing to part with them, even in case of unpredictable market. Read more about the latest statistics in a separate article.

Bitcoin enthusiasts include miners on a large scale. This means that they are counting on the growth of BTC value in the future and are not going to get rid of the valuable digital asset.

How much bitcoin miners have

Data on the situation of Bitcoin miners was shared by analysts at Arcane Research. They have studied what is happening in the niche and voiced their conclusions on it. According to the experts, at the moment, the owners of computing equipment are “constantly looking for opportunities to expand capacity”, as they are generally going to “increase their own hash rate significantly faster in 2022”.

For clarity, here is a graph of the current hash rate of public Bitcoin mining companies, highlighted here in black. Blue indicates the giants’ targets for the end of 2022. In this case, Core Scientific management wants to more than double the amount of processing power, while Bitfarms representatives are aiming for at least a threefold increase.

Current and planned hash rate of major Bitcoin miners

According to the latest Cambridge Bitcoin Network Power Consumption Index data, 44.95 percent of the BTC network’s total hash rate comes from North America. As Arcane analysts suggest, the share of the region’s hashrate is “likely to continue to increase”.


Importantly, last year China accounted for most of the figure, which eventually banned all such procedures within the country. As a result of such actions, hashrate has been distributed among various countries around the world.


As Arcane analyst Jaran Mellerud points out, most publicly traded mining companies prefer a so-called hodl strategy. In other words, they hold the cryptocurrency for the long term and “do everything possible to accumulate as much BTC as possible.” Here’s his rejoinder, cited by Cointelegraph.

This hodge-podge strategy allows them to act as Bitcoin investment vehicles for investors who want to indirectly own BTC through an investment vehicle.


That is, the expert believes that many traditional investors, who are not yet taking the risk of dealing with BTC and other coins directly, are investing capital in such companies. That way, they get a partial benefit from the market's further development.


And that, in turn, provides a serious advantage for the companies themselves, as they have access to additional capital. That’s the point of view of Whit Gibbs, founder and head of Compass Mining.

They don’t need to sell their BTCs to buy more devices, increase free farm space and so on. They can go into the capital markets and get that money to continue expanding their companies. Because of this, they are able to store serious volumes in BTC.

That said, Gibbs notes the huge amount of BTC at the disposal of such companies. For example, mining giant Marathon holds 8,956 bitcoins, making it the third publicly traded company globally after MicroStrategy and Tesla.

The amount of Bitcoin savings by mining companies

According to Whit, miners’ reserves have continued to increase since January 2021, which means they are indeed following the hodla strategy. He believes that “miners are taking a bullish approach to Bitcoin”, meaning they expect it to grow further.

Companies see BTC on their balance sheets as a way to increase their own market value.

Arcane analyst Jaran Mellerud also summed up what is happening in the niche.

Miners are among the biggest Bitcoin bulls. They use the highly developed equity and debt markets in the US to generate money, which is used to fund expansion and operating expenses. In this way, they are able to save the BTC they mine.

Cryptocurrency miner


We believe that the conclusions of the situation are unequivocal. The miners, who were originally envisioned by Satoshi Nakamoto as the main source of bitcoins coming into the market, are trying to keep the cryptocurrency they have mined and are not getting rid of it. Not only does this speak to their confidence in the prospects for the digital asset market, but it also significantly reduces the overall selling pressure on BTC. Consequently, Bitcoin has more room to grow, and the cryptocurrency itself is openly recognised as an asset held by global giants. That, too, is a reason to get in touch with it.