Analysts: Miners have become more active in selling bitcoins on the market

In the first quarter of 2025, bitcoin flows to exchanges from major cryptocurrency miners were stable, while the sales volumes from small miners increased significantly. These data were provided by experts from CoinMetrics.

According to analysts' estimates, miners managed to withstand the stabilization period following the reduction in new bitcoins issued in April 2024. They adapted to the reduced block rewards. Companies with significant capitalization were in a more favorable position—they could switch to more energy-efficient equipment and install it in regions with lower electricity costs.

"As block rewards decrease, maintaining incentives for miners in the long term may require larger transactions and increased competition for space to earn significant revenue from network fees," the report says.

Activity in the small-value transaction sector has surged—transactions with amounts less than $100 in bitcoins accounted for nearly 60% of the total number.