Ethereum miner balance reaches four-year high weeks before the Merge

According to Oklink data, the balance of Ethereum miner addresses exceeded 260,000 ETH with a total of 261,848 ETH valued at over $415 million at the current price.

Miner accumulation reached a new four-year high with similar levels seen last in April 2018. Experts believe that miners are hoarding more ETH in anticipation of price surges and forked PoW tokens.