Businesses Are Absorbing Bitcoin Nearly 4x Faster Than Miners Can Supply

Bitcoin Demand Outpaces Miner Supply

Bitcoin’s supply squeeze is intensifying. According to new data from Bitcoin financial services firm River, businesses are buying Bitcoin nearly four times faster than miners can produce it in 2025. 

Miners generate an average of just 450 BTC per day, while private businesses, public companies, and Bitcoin treasury firms collectively purchase around 1,755 BTC daily. On top of that, ETFs and investment vehicles add another 1,430 BTC per day, with governments quietly stacking an additional 39 BTC daily.

If this pace continues, analysts warn that shrinking exchange reserves and relentless institutional accumulation could trigger a supply shock—a scenario many believe could propel Bitcoin to new highs.

Treasury Companies Lead the Charge

Bitcoin treasury companies have become the most aggressive buyers. In Q2 2025 alone, they scooped up 159,107 BTC, pushing corporate holdings to a staggering 1.3 million BTC in total.

At the center of this corporate arms race is Michael Saylor’s Strategy, the world’s largest Bitcoin holder, sitting on an eye-popping 632,457 BTC.

Author Adam Livingston, who wrote The Bitcoin Age and The Great Harvest, described Strategy’s impact bluntly:

ETFs and Governments Join the Hunt

Institutional players aren’t just sitting on the sidelines. Exchange-traded funds (ETFs), particularly in the United States, are pulling in billions in inflows, adding pressure on already limited supply. 

Meanwhile, governments—often quiet about their Bitcoin strategies—are reportedly stacking modest amounts, averaging 39 BTC per day. For some, it’s a hedge; for others, it’s a signal of shifting policy toward digital reserves.

“Not Moving the Market,” Says Strategy Executive

Despite Strategy’s monumental accumulation, the company insists it isn’t driving up prices in the short term.

Shirish Jajodia, Strategy’s corporate treasury officer, explained how purchases are executed:

Jajodia added that most buys are carried out through over-the-counter (OTC) transactions, bypassing public exchanges to avoid disrupting spot markets.

Looming Supply Shock?

The big question remains: what happens when demand keeps rising while supply remains fixed? Bitcoin’s hard-coded issuance ensures that only 450 BTC are mined daily, halving every four years. 

If corporate treasuries, ETFs, and governments maintain their current appetite, analysts say the imbalance could act as a bullish catalyst. A true supply shock, they argue, would not just sustain Bitcoin above $100,000 but push it into uncharted territory.