Wintermute: Bitcoin Miners Should Convert Holdings into Yield-Bearing Assets to Cope with Profitability Pressure

DeepFlowTech · 2026-03-13T06:05:02+00:00

Wintermute published a blog indicating that Bitcoin miners face profitability challenges due to reduced revenue following the halving and high energy costs. The firm recommends that miners actively manage their BTC holdings and generate yield through derivatives and lending protocols to avoid passive holding.

DeepFlowTech

2026-03-13 06:05:02

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Deep Tide TechFlow News, March 13 — According to Cointelegraph, market maker Wintermute published a blog post stating that Bitcoin miners are facing profitability challenges in this market cycle due to reduced revenue after the halving and ongoing energy cost pressures. They recommend miners actively manage their BTC holdings as interest-earning assets rather than passively holding.

Wintermute noted that the BTC held collectively by miners approaches 1% of the total supply, considering this a “legacy of the hoarding era,” and that active management tools for balance sheets are still severely undervalued. Specific strategies include monetizing market risk through derivatives structures, covered call options, and cash-backed put options, or deploying BTC into lending protocols to earn interest.

BTC3,01%

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