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Bitcoin miners now hold a record 1.856M BTC — new data

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cointelegraph.com

Bitcoin (BTC) miners now own more BTC than at any time in history as the impact of the past months' turbulence wears off.According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased dramatically in July.In the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh all-time high.As noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272 BTC as of July 29.

The start of August saw a slight decline, with the total as of Aug. 3 being 1,864,842 BTC.Between July 6, when reserves hit a local low, and the July 29 record, miners' wallet balance increased by 0.37%, or 6,885 BTC."Bitcoin miner reserves have fully recovered the outflows/sell-off that happened after the capitulation event in June," Wuestenfeld commented in one of CryptoQuant's "Quicktake" updates on the day.

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