Bitcoin miner accumulation is accelerating and, according to the source, marks a structural shift from the old sell-into-rallies playbook. Miners are holding more BTC for longer, even as prices rise, which some attribute to US spot ETF approvals and growing sovereign reserve adoption.
Hashpower hits zettahash as margins tighten
The Bitcoin network’s hash rate recently surpassed 1 zettahash per second, reaching about 1.03 ZH/s on September 11, 2025. Meanwhile, mining difficulty set a new all-time high at 136.04 T. As a result, security strengthened; however, hashprice fell 8.39% month-over-month to roughly $53.10 per day per PH/s, compressing miner margins.
Despite tougher economics, Bitcoin miner accumulation appears resilient. Miners are reportedly prioritizing balance-sheet strength over immediate liquidity, a notable departure from prior cycles.
Institutions and corporates keep buying
Beyond miners, institutional and corporate demand remains firm. US-listed spot Bitcoin ETFs drew $1.3 billion of inflows between Wednesday and Thursday, according to the source. Japan’s Metaplanet also bought an additional 136 BTC for $15.2 million. Collectively, corporate digital asset treasuries now hold $113 billion in Bitcoin as of September 2025.
Therefore, Bitcoin miner accumulation is one pillar within a broader accumulation trend. Meanwhile, higher difficulty and rising hashpower suggest miners’ confidence in long-term network value, despite near-term revenue pressure.
Key drivers cited by market watchers include:
- US spot Bitcoin ETF adoption
- Sovereign entities adding BTC reserves
- Strengthening network security metrics
For readers revisiting fundamentals, see our guide on how stablecoins work to understand fiat on-ramps that support crypto flows.
For a primer on network hash rate and difficulty, see Wikipedia’s Bitcoin network.