Miner Unspent Supply
- 1M1M
- 3M3M
- 6M6M
- 1Y1Y
- ALLALL
- LinearLinear
- LogLog
About this metric
What it measures
Miner Unspent Supply sums the BTC in mining reward outputs, known as coinbase outputs, that have not yet been spent. It follows rewards remaining in their original outputs, rather than all coins held in wallets associated with miners.
How to read it
A rise means newly retained rewards exceed the value of old reward outputs being spent; a decline means more of those original outputs are moving. The series peaked near 2.60 million BTC in March 2011 and stood around 1.78 million BTC at the April 2024 halving, illustrating how much of the remaining balance comes from older rewards.
Spending a coinbase output can be a pool payout or a transfer to another wallet, with no sale involved. Dormant or lost early rewards can remain in the series for years, and coins sent to a miner’s own new address leave this measure even if the miner still owns them.
- Frequency
- Daily (UTC 00:00)
- Asset
- BTC
- Category
- Mining
- Type
- Single value
- Unit
- BTC
- Data since
- 2009-01-03
- Latest data
- 2026-10-27
- Data points
- 6,507
FAQ
Is Miner Unspent Supply the same as miner reserves?
No. It tracks unspent mining reward outputs. A wallet-based reserve measure can also include coins that miners have already moved or received from elsewhere.
Does a fall in unspent miner supply prove miners are selling?
It shows that original reward outputs were spent. Pool distributions, custody changes and internal transfers can all cause a decline without an exchange sale.
What was the historical peak in miner unspent supply?
The recorded history reached about 2.60 million BTC on March 13, 2011. This is a balance of retained reward outputs, not a measure of daily mining income.
