Miners Move Millions in BTC to Crypto Lender NYDIG

Major Bitcoin mining operations MARA Holdings and Riot Platforms have collectively moved millions of dollars' worth of BTC to NYDIG, a prominent crypto lender. According to on-chain data from Lookonchain, these transfers occurred approximately 10 hours ago.

The transactions involved a combined 581 BTC, valued at over $37 million. Specifically, MARA deposited 200 BTC, worth around $12.86 million, while Riot Platforms transferred 381 BTC, valued at approximately $24.51 million.

These deposits are part of a larger trend where major miners have been moving Bitcoin to NYDIG for collateralized loans or other financial services. NYDIG offers Bitcoin custody, trading, and lending solutions, backed by institutional investors.

This trend highlights the growing intersection between mining operations and institutional finance, with implications for market liquidity and investor sentiment.