Crypto Miners Are ‘Stockpiling’ Bitcoin Amid Recent Rally, Kraken Says

“Both large-scale entities and smaller players, who secure the network via mining pools, appear to be stockpiling bitcoin,” said Pete Humiston, Manager at Kraken Intelligence, in an emailed statement to CoinDesk. This “supply shock” seems to have contributed to bitcoin gaining more than 50% month-to-date, and data suggests there has been little profit-taking from long-term holders.

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