Bitcoin miners transfer $3.2 billion in BTC amid wild price swings
Bitcoin miners have moved nearly 49,000 BTC to exchanges in just two days. The transfers, worth around $3.2 billion, mark one of the largest outflows since late 2024. This surge in activity comes as Bitcoin's price swung sharply between $62,000 and over $70,000.
The first major outflow occurred on 5 February, when miners shifted 28,605 BTC—valued at roughly $1.8 billion. The following day, another 20,169 BTC, worth $1.4 billion, left wallets tied to mining operations. These figures dwarf the production levels of leading firms: the eight largest public Bitcoin miners, including CleanSpark, Marathon, and Riot, collectively generated only about 2,377 BTC in January 2025.
The scale of the outflows suggests miners may be selling reserves to fund operations or pivot toward new ventures. Some analysts point to a possible shift into AI computing, where mining infrastructure could be repurposed. The timing aligns with Bitcoin's recent volatility, as prices rebounded from $62,000 to over $70,000 during the same period.
The two-day outflow totalled nearly 49,000 BTC, exceeding ten times the monthly output of major mining firms. With Bitcoin's price fluctuations adding pressure, the moves hint at broader changes in how miners manage their assets. The industry now watches to see whether this trend continues or stabilises in the coming weeks.
