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

Crypto Miners Are ‘Stockpiling’ Bitcoin Amid Recent Rally, Kraken Says
Crypto miners, both large and small, are accumulating bitcoin amid its recent rally, creating a “supply shock” to the bitcoin market that’s helped drive up prices, Kraken Intelligence said in a new report.Crypto miners who rely on mining pools appear to be stockpiling bitcoin, with only a small number of the miners taking profit even as bitcoin recently reached all-time-high, according to the report.“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…