Bitcoin mining loans may offer a smarter path forward for miners, according to John Glover, Chief Investment Officer at crypto lending firm Ledn. Rather than selling Bitcoin, Glover suggests miners should use their BTC as collateral to borrow fiat and cover operating expenses — allowing them to retain their coins and support Bitcoin’s price.
Bitcoin Mining Loans Could Help Stabilize the Market
Glover argues that by using Bitcoin mining loans, miners can avoid selling their coins during market dips, which often creates downward pressure on Bitcoin’s price. Instead of dumping coins on the market, miners would build long-term value and trust the fundamental principles of BTC.
“If you mine Bitcoin, you understand why it’s likely to appreciate in the future,” said Glover. “Selling your BTC isn’t in your best interest.”
Key Benefits of Borrowing Over Selling
According to Glover, choosing loans over sales brings multiple advantages for miners and the broader market:
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Profit from BTC price growth while holding coins
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Delay tax liabilities by not realizing capital gains immediately
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Earn passive income from unused crypto not locked in collateral
As a result, Bitcoin mining loans could help miners survive bear markets while supporting the network’s long-term value.
Selling Pressure From Miners Slowed BTC Growth in 2025
Data from Q1 2025 shows that many miners sold portions of their holdings, which contributed to Bitcoin’s stagnation. Analysts note that consistent miner sales disrupted the upward trend, leaving the market struggling to gain momentum.
If more miners adopt Glover’s approach, the BTC price could climb faster. The broader crypto lending industry also stands to benefit, as lending platforms gain more active users and locked assets.
Risks Still Exist for Miners Who Borrow
Despite the potential, Glover acknowledged that Bitcoin mining loans come with risk. If Bitcoin prices fall instead of rise, miners may be left with unpayable debt. On Ledn’s platform, the current interest rate for BTC-backed loans is at least 10.4% annually — a cost that adds pressure during market slumps.
Still, for miners who believe in Bitcoin’s long-term potential, the strategy could offer greater upside than selling coins at low prices.
