Bitcoin’s rise is giving miners a bigger bump than you think, says HIVE’s Frank Holmes originally appeared on TheStreet.

The surge in Bitcoin's price isn’t just good news for investors — it’s a windfall for miners, especially those who hold their BTC instead of selling.

Frank Holmes, Executive Chairman at HIVE Digital Technologies, told TheStreet Roundtable host Scott Melker in an interview that price increases have a double effect for mining companies that adopt a HODL strategy.

“They do, and what people don't realize is someone that hodls Bitcoin like we do, it gives you even a bigger bump when it comes mark to market,” Holmes said.

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“There’s such a big push for companies to buy Bitcoin, as a treasury function in addition to having cash, having Bitcoin on their balance sheets. So I think that we're gonna get a big surprise the end of June. And then the end of September, Bitcoin's gonna be higher and that's just gonna be a bigger bump,” he added.

Holmes compared HIVE’s approach to firms like Iris Energy, which sells all of its mined Bitcoin instead of holding. “So it's a different business strategy than let’s say ourselves,” he said.

Why Holmes thinks Bitcoin will keep climbing

Melker pressed Holmes on why he’s confident that Bitcoin will finish strong in third quarter.

“What was significant last week was the Genius Act going through,” Holmes said, referencing recent U.S. government initiatives perceived to be favorable to blockchain and Web3. “I think it's very important people realize how the ramifications, it's nonlinear, nonlinear math, it's not from A to B. It's going to evolve or Web3 will grow substantially in America — and in particular now with the government support not attacking Web3 and Bitcoin is the backbone to Web3.”

Holmes also believes stablecoins backed by U.S. banks will play a huge role in defending the dollar against China's de-dollarization efforts.

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“People want U.S. dollars — realize it — and it's the battle against China. China's trying to do everything to de-dollarize, to hurt America. Well all of a sudden now the solution back to it, the proof that digital economy works when you look at Bitcoin, it's now going to grow with a stablecoin.”

“And with that, Bitcoin's capped at 21 million coins. That scarcity element just makes it — the adoption process gets these big bumps that increase.”

Bitcoin treasury trend is here to stay

Melker also pointed out that “Bitcoin treasury companies” like MicroStrategy are helping drive demand. “Michael Saylor himself, seemingly buying over a half a billion for strategy every single week,” he noted.

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Holmes agreed, but said the miner-treasury company dynamic has shifted.

“I don't think it's as straight as it used to be, very straight correlated, high correlation, and now different strategies all of a sudden giving a different bid to them,” he said.

But Holmes thinks one big narrative is taking over: purchasing power.

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“The crypto ecosystem has educated so many investors. It's not about the CPI because that number is fud. That number changes all the time,” he said, pointing to economists who track inflation using older CPI methods.

“They’ve reported that using the 1980 basket for CPI, it’s running at 12%… Your purchasing power is off 30% to 50%.”

“So people are to say, how do I hedge that? Well, you buy Bitcoin. And if you're really conservative, you just want to preserve your capital, you go buy some gold. But if you really want to preserve your capital and make money, even though it's higher risk, you buy Bitcoin.”

Bitcoin’s rise is giving miners a bigger bump than you think, says HIVE’s Frank Holmes first appeared on TheStreet on Jul 23, 2025

This story was originally reported by TheStreet on Jul 23, 2025, where it first appeared.

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