Bitcoin miners' revenues have jumped 78% from the July lows, and CryptoQuant says the extreme miner outflows have disappeared. The firm concludes that BTC's price could further benefit from the removal of this selling pressure, though miners are not accumulating yet.
CryptoQuant's latest weekly report found no extreme miner outflow events since August 21, when roughly 29,000 left wallets associated with miners. The largest daily outflows were approximately 12,000 BTC, within what the analytics company considers a normal range.
The firm concluded that miners have emerged from their toughest period of the year. It added that BTC's price could further benefit from the end of consistent selling pressure.
Older and larger miners also sell less
Satoshi-era miners, excluding Patoshi-associated BTC, moved approximately 600 units out of their wallets in September, around 70% below January's 2,000 BTC. Their combined holdings remain close to 590,000 bitcoins.
Larger modern miners followed the same trend. Addresses holding between 100 and 1,000 units saw their collective balance drop by about 20%, from roughly 64,000 BTC in December 2025 to 51,000 BTC by early September. However, the figure has since stabilized rather than continuing to decline.
CryptoQuant admitted that miners are not accumulating yet, but the report determined that the persistent selling pressure has stopped. That marks a change from early August, when CryptoPotato reported that major miners, including MARA and Riot Platforms, were continuing to move BTC to NYDIG.
A price rally lifts miner revenue
The report explained that miners are not obligated to sell right now because BTC has rallied 45% from under $58,000 at the start of July to over $83,000 this week.
The rally lifted total daily miner revenue from $27 million to around $48 million, a 78% increase. Transaction fees also recovered from a seven-day average of $195,000 to $275,000, although they remain far below the peaks seen in 2025.
Source: CryptoPotato
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