UAE’s $450M Bitcoin mining haul faces market drop — But miners aren’t selling
The post UAE’s $450M Bitcoin mining haul faces market drop — But miners aren’t selling appeared on BitcoinEthereumNews.com.
The United Arab Emirates has mined more than $450 million worth of Bitcoin, according to on-chain data from Arkham. This comes even as the broader crypto market remains under pressure, with Bitcoin trading near recent lows. Arkham estimates that UAE-linked mining operations have generated approximately $453.6 million in Bitcoin, with the majority of those coins still held on-chain. Excluding energy costs, the position is currently estimated at $344 million in unrealized profit. On-chain data shows limited selling pressure Despite Bitcoin’s recent pullback to the $66,000–$67,000 range, Arkham data shows no significant outflows from UAE-linked mining wallets over the past four months. This suggests that mined BTC has largely been retained rather than distributed to exchanges, even as price momentum weakened. The absence of recent outflows contrasts with prior market downturns, where miners often accelerated selling to cover operational costs. In this case, the data points to a more patient treasury strategy, likely supported by low-cost energy access and long-term balance sheet planning. Bitcoin miner revenue indicator signals stability, not stress Technical data from TradingView reinforces the on-chain picture. The Miner Revenue [MIREV] indicator, which tracks miners’ revenue relative to historical norms, remains well above capitulation levels. Source: TradingView Historically, sharp drops in MIREV have coincided with forced selling and miner distress. In the current cycle, however, miner revenue has compressed alongside price without collapsing, indicating that miners are not under immediate financial pressure. This aligns with Arkham’s finding that UAE-linked mining entities are holding production rather than distributing supply, even as Bitcoin trades far below recent highs. Strategic positioning amid market weakness The data suggests that UAE-backed mining activity is being treated less as a short-term revenue stream and more as a strategic accumulation play. With Bitcoin still well above average production costs and miner revenue remaining stable, there appears…
Filed under: News - @ February 19, 2026 11:27 pm