Bitcoin miners' revenue surged in July, easing pressure on miners to sell off reserves

BlockBeats news, on August 1, according to CryptoQuant report, the number of bitcoins currently sold by miners is decreasing. Miners' daily income has increased by nearly 50% since the beginning of July. As of July 29, miners' hash rate was 604 EH/s, an increase of 6% since July 9.

"Currently, miners' daily income is about $32 million, while the lowest income so far this year was $22 million in early July. Higher income supports the recovery of the network hash rate."

The increase in income has led to a decrease in the amount of BTC sold from miners' reserves in the past few weeks. According to the report, miners' capital outflows are "generally lower than earlier this year, indicating that as prices recover, miners' selling pressure has weakened."