TechFlow News, March 13: According to a Cointelegraph report, market maker Wintermute published a blog post stating that Bitcoin miners are facing profitability challenges in this market cycle due to reduced revenue following the halving and persistently rising energy costs squeezing margins. Wintermute recommends that miners actively manage their BTC holdings as yield-generating assets rather than holding them passively.
Wintermute notes that miners collectively hold nearly 1% of the total BTC supply—a “historical legacy of the ‘HODL era’”—and argues that balance-sheet active management tools remain significantly underutilized. Specific strategies include monetizing market risk via derivatives structures, covered call options, and cash-secured put options, or deploying BTC into lending protocols to earn interest income.
