- River estimates companies bought about 1,755 BTC per day in 2025 versus roughly 450 mined.
- ETF inflows and lower exchange balances tightened available supply throughout 2025.
Businesses are taking in Bitcoin at almost four times the pace of new issuance according to fresh estimates from River. The firm’s flow map points to average corporate purchases of about 1,755 BTC per day in 2025 against an estimated 450 BTC created by miners each day after the April 2024 halving.
River says companies added ~1,755 BTC daily in 2025 while miner issuance averaged ~450 BTC
River groups publicly traded treasury firms with conventional enterprises that hold Bitcoin on balance sheet. On its latest snapshot of daily flows, that combined cohort absorbed around 1,755 BTC per day, nearly quadruple the post-halving supply rate derived from 3.125 BTC per block and roughly 144 blocks per day.
The firm’s depiction uses wallet tagging and public disclosures to estimate net movements into business-controlled addresses.
Businesses are absorbing bitcoin at 4x the rate it is mined. pic.twitter.com/41N8KN6sen
— River (@River) August 27, 2025
The methodology matters for interpretation. River’s tallies capture net flows into identified wallets and do not necessarily equal matched spot exchange purchases. Transfers can include over-the-counter settlement or custodial reorganisations.
Even so, the scale of business accumulation indicated by River’s data highlights how balance sheet adoption has become a persistent buyer of coins relative to miner issuance.
ETF allocations added further demand as exchange reserves declined through the year
River’s breakdown also shows additional institutional absorption from funds and spot exchange traded products at about 1,430 BTC per day on average in 2025. That layer of demand sits on top of business purchases and further narrows the free float from new supply.
Parallel indicators of circulating supply support the direction of travel. Data from on-chain analytics provider CryptoQuant shows that aggregate Bitcoin balances held on centralised exchanges have continued to trend lower in 2025, a pattern typically associated with reduced immediate selling inventory.
While exchange reserves can fluctuate with market conditions, the multi-month downtrend aligns with the absorption narrative described by River.
Corporate treasury positioning remains a visible component of the buyer base. Public disclosures and third-party dashboards tracking company holdings suggest a sustained increase in coins held by listed firms and dedicated treasury vehicles this year, even as individual entities adjust strategies.
Such holdings remove supply from exchange circulation for indeterminate periods and can amplify the effect of a lower miner subsidy on available float.
~1.3 million bitcoin ($150 billion) are held by businesses.
Companies are starting to catch on after 16 years of front-running by individuals. pic.twitter.com/J0gTDovory
— River (@River) August 28, 2025
For market participants, the arithmetic is straightforward. With new issuance constrained by protocol and corporate accumulation steady on River’s measures, secondary market liquidity becomes more reliant on existing holders choosing to sell.
That dynamic can change quickly if risk appetite shifts, but for now the data indicates the business sector is a dominant marginal sink for coins relative to miner output.
At the time of reporting, Bitcoin is trading at $108,061.00, reflecting a decline of $653.00 (–0.60%) from the previous close. The intraday range spans from a low of $107,283.00 to a high of $109,205.00.
