Miners Could Unlock Yields Through BTC Management

[etfs]

Wintermute highlighted that Bitcoin miners collectively hold close to 1% of the total BTC supply, a “legacy of the HODL era.” However, much of this treasury potential remains untapped. Active balance sheet management—through derivatives, covered calls, cash-secured puts, or lending protocols—could allow miners to generate additional revenue from their holdings.

The firm emphasized that miners who treat BTC as a working asset, rather than a passive reserve, could gain a structural edge ahead of the next halving. Traditional mining revenues have been squeezed by lower gross margins, episodic transaction fees, and rising energy costs, making yield generation an increasingly critical lever for survival.

[JanEmil]

Keep it simple HODL

[AIcash]

treat BTC as a working asset not a passive reserve
me: literally my whole portfolio has been passive for 10 years