
Total Miner Holdings is the combined BTC balance in addresses attributed to the tracked miner cohort. It is a stock of coins held at a point in time, not daily mining issuance, miner revenue or a monthly flow.
A growing balance means the tracked cohort retains more BTC overall, while a falling balance means outflows exceed additions to those wallets. The recorded high was about 2.698 million BTC on July 12, 2012; the balance was about 1.841 million BTC in October 2022 and 1.778 million BTC in October 2026, indicating a lower reserve stock over that interval.
Dormant early mining balances can keep the total high without representing coins that active operators can spend. Pool payouts, wallet coverage and address reclassification may also change the balance. A decline is not a direct measure of operating stress or exchange selling; pair the stock with its 30-day change and miner revenue.
Holdings are the accumulated BTC balance still inside the tracked miner address set. Issuance is the new BTC created through block subsidies in a period; new coins can enter the balance and later leave it.
No. The address-based cohort can include dormant mining balances as well as currently active wallets. It should not be treated as a consolidated balance sheet of listed mining companies.
The net-change metric compares the current reserve balance with the balance 30 days earlier. Holdings show the size of the stock; the rolling change shows whether that stock has recently grown or shrunk.