The Bitcoin Mining Race: Who’s Hoarding the Most BTC

• Major Bitcoin miners like MARA and RIOT are hoarding BTC, likely preparing for future profitability and network competition.
• Petrobras, a Brazilian oil giant, is exploring Bitcoin mining and blockchain applications, signaling energy firms’ growing interest in crypto.

In the Bitcoin space, one trend is becoming increasingly clear: big miners are hoarding an incredible amount of BTC. Some might think, “Shouldn’t miners be selling their hard-earned coin?” But just look at the latest data.

As of February 8, 2025, Marathon Digital Holdings (MARA) leads the pack with 45,659 BTC, followed by Riot Platforms (RIOT) with 18,221 BTC, CleanSpark (CLSK) with 10,556 BTC, and Hut 8 Corp (HUT) with 10,208 BTC. HIVE, BitFu, Canaan, and a few others have fewer than 3,000 BTC meanwhile.

Publicly traded Bitcoin miners 👇 $BTC HODL as of 2/8/2025$MARA $HUT $CLSK $HIVE $CIFR $BTBT $BITF $DMGI $IREN $CAN $CBIT $ANY $CORZ $SDIG $ARBK $WULF $MIGI $GREE $BTDR $GRDI $SLNH pic.twitter.com/Mabxa7aAXk

— HODL15Capital 🇺🇸 (@HODL15Capital) February 9, 2025

Miners Hold BTC: Strategy or Speculation?

This behavior amply illustrates the lack of urgency miners have to sell their coins. They might be getting ready for the next halving that would lower the block reward, or they could view Bitcoin as an asset that would keep appreciating in value. Storing Bitcoin can be a tactic to maximize future earnings given growing competition and costly running expenses.

Still, that’s not everything! Certain analysts contend that these companies are waiting for the ideal momentum to sell. Instead of releasing BTC at a low price, they chose to hoard and hope that the value of Bitcoin will increase in the coming few months or years.

Who is the Most Aggressive?

Based on the available data, Marathon Digital Holdings seems to be the most active BTC accumulator. Owning more than 45,000 BTC, they even more than double outshine their closest rivals. The reason is… Since Marathon has long followed a large expansion plan including raising their mining capacity. They are not alone in this strategy.

Targeting higher hash rates to compete in an ever crowded sector, Riot Platforms and CleanSpark both keep growing their activities.

Though their operating scope is less than Marathon or Riot, Hut 8 and HIVE are likewise attempting to remain relevant. For instance, HIVE mined 102 BTC only last month and intends to raise its hash rate by 317% by September 2025. This amount shows their will to remain competitive in the presence of other powerful companies.

Petrobras Jumps Into Bitcoin Mining?

One new surprise outside the established players is Petrobras. As we previously reported, this Brazilian oil and gas corporation wants not to miss the trend. They have lately revealed intentions to explore tokenization and other blockchain uses as well as Bitcoin mining.

This move is really fascinating since it suggests that crypto mining is beginning to show the huge promise in the energy sector. With a main emphasis on block-reward mining, Petrobras intends to establish a new research and development division especially addressing blockchain technology exploration. Perhaps they see a great chance in low-cost Bitcoin mining from surplus electricity from their facilities.

What Impact Will This Have on the Market?

The quantity of Bitcoin on the market could drop as more companies hoard the cryptocurrency. Of course, if demand is strong, this might generate supply pressure that finally drives prices higher.

On the other side, this approach can potentially have risks. Should at some time these big miners choose to sell their BTC concurrently, the market might see notable selling pressure.

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