Report: Bitcoin miner revenue rose nearly 50% in July, as miner selling pressure weakened

According to CryptoQuant, the number of bitcoins that miners are currently selling is decreasing. Since the beginning of July, miners' daily revenue has increased by nearly 50%. As of July 29, miners had a hash rate of 604 EH/s, an increase of 6% since July 9. Miners are currently earning around $32 million per day, compared to a year-to-date minimum of $22 million set in early July. The higher revenue supports a recovery in the network's hash rate.
The increase in revenue has led to a decrease in the amount of BTC selling from miners' reserves over the past few weeks. According to the report, miners' outflows are generally lower than earlier in the year, indicating that the selling pressure on miners has lessened as prices recover.