Miner Net Flow
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Miner Net Flow subtracts the BTC leaving identified miner addresses from the BTC entering them each day. Measured in BTC, positive values indicate net inflow to the tracked miner wallets and negative values indicate net outflow; incoming mining rewards contribute to the balance.
How to read it
Read sustained positive values as a build-up of BTC in the tracked miner wallets, and persistent negatives as a drawdown. The historical range is asymmetric: net outflow reached about 156,548 BTC on September 10, 2012, while the largest net inflow was about 47,341 BTC on February 25 that year. These extremes are balance movements, not direct evidence of market sales or purchases.
Pool payouts and transfers to untracked miner wallets can reduce measured balances without coins reaching a market. Address attribution can also change; compare net flow with miner holdings and miner-to-exchange inflows before assigning a cause to a spike.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Transfers & Transactions
- Type
- Single value
- Unit
- BTC
FAQ
What does negative Bitcoin miner net flow mean?
More BTC left the tracked miner addresses than entered them during the day. It indicates a reduction in that tracked balance, but the destination could be a pool participant, another wallet or an exchange.
How is Miner Net Flow different from miner-to-exchange inflows?
Net flow combines all tracked incoming and outgoing miner transfers into one signed figure. Miner-to-exchange inflows isolate BTC moving from miner addresses to identified exchange addresses.
Does positive miner net flow mean miners bought Bitcoin?
No. Mining rewards and incoming transfers can increase the tracked balance without a purchase. Positive net flow only establishes that measured inflows exceeded measured outflows.
