Report: Bitcoin miner revenue grew nearly 50% in July, with selling pressure easing.

Miners are currently selling less Bitcoin, CryptoQuant reports. Miners’ daily revenue has increased by nearly 50% since the beginning of July. As of July 29, miners’ hashrate was 604 EH/s, up 6% since July 9. Miners’ daily revenue is currently around $32 million, compared to the year-to-date low of $22 million in early July. Higher revenues support the recovery in the network’s hashrate. Increased revenues have led to less BTC selling from miners’ reserves in the past few weeks. According to the report, miners’ outflows are generally lower than earlier this year, suggesting that miners’ selling pressure has eased as prices have recovered.