The data on the series shows that Bitcoin miners have seen a decrease in the activity because their transaction volume has decreased to its lowest levels in several years.
Bitcoin workers ‘workers’ size is now its lowest level since November 2022
According to data from the Defi Secondal Establishment Solutions (formerly InTotheblock), the share of the Bitcoin miners in the Bitcoin has decreased recently. The index of this series, as its name suggests, measures the percentage of the volume of the BTC transaction occupied by the mines.
Below is the chart that Sentora shares, which shows the trend in the share of Bitcoin’s size miners over the past decade:
The value of the metric seems to have been sliding down in recent weeks | Source: Sentora on X
As shown in the graph, the share of the size of miners in Bitcoin remained at a high level last year, indicating that miners were participating in a remarkable amount of activity. On a few occasions, through the index until or reached a 20 % mark, which means that this chain’s health contributed to the fifth network size.
This year, the scale has seen a significant decrease, and the decrease was deepened recently, as its value decreased to only 3.3 %. From the graph, it is clear that this is the lowest level of the index since November 2022, when the bear market reached below.
In general, miners can indicate the transportation of coins when they want to participate in the sale, so their low activity can indicate that they do not have a great appetite for sale. It remains only to see, however, what is the effect of this on the price of bitcoin, if any.
In some other news, the founder of Capriole Investments Charles Edwards in the X Publication, the recent Cambridge Mining Industry report revealed that 75 % of all reported mining activities are now occurring in the United States.
The ranking of countries based on the percentage of reported mining activity that they host | Source: @caprioleio on X
Just four years ago, 50 % of all mining in China has been conducted, but the ban on the country means that miners have to carry out operations elsewhere. Edwards notes: “Bitcoin is now formally” in America. “
The report also reaffirmed the average cost of electricity from miners: $ 45/megapixels. According to the analyst, the Capriole BTC production model used this same number for years. This cost of electricity represents 80 % of the expenses that this chain is borne to operate their operations.
“The cost of Bitcoin production is one of the highest value indicators to cut the amazing Bitcoin purchase opportunities, so it’s great to reformulate these important and accurate data points for 2025,” says Edwards.
BTC price
Bitcoin continues to move sideways as its price is still trading on the 108,800 dollar sign.
The trend in the BTC price over the last five days | Source: BTCUSDT on TradingView
Distinctive image from Dall-I, IntothBlock.com, Chart from TradingView.com
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