Recent developments indicate a recovery for Bitcoin miners as financial pressures have eased significantly in recent months. A report from CryptoQuant highlights an increase in the processing power of the Bitcoin network, known as hashrate, rising from 899 exahashes per second (EH/s) on July 31 to 962 EH/s. Additionally, the decline in hashrate has slowed, dropping from 18 percent on July 28 to 13 percent.
The resurgence of Bitcoin’s market price has played a crucial role in this recovery. After hitting a low of $58,000 in July, the cryptocurrency’s value surged by approximately 45%, surpassing the $83,000 mark. This price increase has had a direct positive impact on miners’ earnings, with daily mining revenue escalating by 78%, moving from $27 million to $48 million. Furthermore, daily revenue from transaction fees also saw an increase, rising from $195,000 to $275,000, although these still lag behind block rewards.
Decreased Selling Pressure from Miners
According to CryptoQuant, the profitability conditions for miners have improved since the summer, particularly after Bitcoin reached $76,000 on August 21. This renewed profitability has corresponded with a reduction in Bitcoin selling pressure from miners. Data reveals that miner wallets have not shown significant outflows since mid-August, indicating stability in their holdings.
In fact, miners who have been involved in the Bitcoin space since its early days have contributed to this trend. In September, only about 600 BTC were withdrawn from these wallets, a notable decrease compared to approximately 2,000 BTC withdrawn in January. This reduction signifies a shift in behavior among long-term miners.
Moreover, the total balance in the addresses of miners holding between 100 and 1,000 BTC has remained stable at around 51,000 BTC since early September. This follows a sharp decline from 64,000 BTC in December 2025, representing roughly a 20 percent drop in their holdings.
Overall, the combination of rising Bitcoin prices and increased hashrate appears to be setting a more favorable landscape for miners, alleviating the financial strains that have characterized the market in recent months.
