Bitcoin Miners Deposit 71,000 BTC to Binance Amid Profit-Taking Spree
In November 2025, Bitcoin miners have moved a staggering 71,000 BTC to Binance, taking advantage of profitable block production despite record-high network competition. The transfers included a single-day peak of 12,564 BTC, significantly outpacing corporate treasury demand. While miner reserves remain strong at 1.89 million BTC, dormant wallets may hold onto their assets indefinitely. With Bitcoin trading near $104,115, miners are utilizing efficient hardware to maximize returns, signaling a strategic shift in their approach to capitalizing on the current market conditions.
Bitcoin Miners Shift 71,000 BTC to Binance Amid Profit-Taking
Bitcoin miners have deposited over 71,000 BTC into Binance this November, capitalizing on profitable block production despite all-time-high network competition. The transfers peaked at 12,564 BTC in a single day, dwarfing demand from corporate treasuries. Miner reserves remain robust at 1.89 million BTC, though dormant wallets may never liquidate.
With BTC hovering NEAR $104,115, miners are leveraging efficient hardware to monetize newly minted coins. The market continues absorbing supply even above six-figure prices—a testament to institutional appetite. October’s record mining activity concentrated output among major pools, further straining profitability margins.
Binance Chain Urges Users to Migrate from Legacy Multi-Sig Wallet to Safe Global
BNB Chain developers have announced the impending decommissioning of its legacy multi-signature wallet, urging users to migrate assets to Safe Global. The existing BNB Safe{Wallet}, built on Gnosis Safe protocol, will sunset in coming weeks. Safe Global will continue supporting BNB Smart Chain and other EVM-compatible networks.
The migration process preserves security thresholds, ownership structures, and transaction histories—though some details may temporarily disappear during base contract synchronization. Users must connect a signer wallet through Safe's interface, then import their old SAFE configuration by address and name.
This transition reflects the blockchain industry's broader shift toward standardized security solutions. Safe Global's infrastructure offers enhanced interoperability across EVM chains, potentially reducing fragmentation in institutional-grade crypto custody solutions.
