Bitcoin Miners Boost Holdings by 261 BTC in Largest Weekly Gain in Two Weeks

Bitcoin miners collectively increased their holdings to approximately 1.19 million BTC as of early September, marking a gain of 261 BTC compared to the previous week. This represents the largest weekly increase in miner reserves seen in roughly two weeks, according to blockchain data.

Alongside the rise in holdings, Bitcoin’s network hash rate, which measures the total computing power securing the blockchain, also climbed notably over the same period, reflecting continued growth in mining activity and network security.

Puell Multiple Ticks Higher, Signaling Miner Profitability

The Bitcoin Puell Multiple, a metric used to gauge miner profitability relative to historical averages, rose slightly during the week as well. This indicator, which compares daily coin issuance value to its long-term average, can offer insight into whether mining activity is becoming more or less profitable relative to recent trends.

Together, these figures suggest miners may be choosing to retain more of their Bitcoin rather than selling into the market, even as overall computing power dedicated to securing the network continues to expand.