According to BlockBeats, on August 1, CryptoQuant reported that the amount of Bitcoin sold by miners is decreasing. Since the beginning of July, miners' daily revenue has increased by nearly 50%. As of July 29, miners' hash rate was 604 EH/s, an increase of 6% since July 9.
Miners’ daily revenue is currently around $32 million, compared to a low of $22 million in early July. Higher revenues support the recovery of the network’s hash rate.
Increased revenue has led to less BTC selling from miners’ reserves in the past few weeks. The report notes that miners’ outflows are generally lower than earlier this year, indicating that miners’ selling pressure has eased as prices have recovered.
