Bitcoin Miners Pause Aggressive Selling as Daily Revenues Surge 78% to $48 Million

Bitcoin miners have halted aggressive treasury liquidations as daily revenues jumped 78% from July lows to $48 million, significantly reducing market supply pressure according to data from CryptoQuant. ## Revenue Recovery and Fading Miner Outflows The persistent selling pressure from network validation nodes has effectively ceased following Bitcoin's 45% price gain from under $58,000 in early July to over $83,000. CryptoQuant reported that no extreme miner outflow events have occurred since August 21, when roughly 29,000 BTC left associated miner wallets while price rallied from under $65,000 to $76,000. Recent daily outflows peaked around 12,000 BTC, remaining within normal ranges. Satoshi-era miners, excluding Patoshi-linked coins, moved approximately 600 BTC in September, representing a 70% decline compared to 2,000 BTC in January, while maintaining total reserves near 590,000 BTC. Addresses holding 100 to 1,000 BTC saw balances drop 20% from 64,000 BTC in December 2025 to 51,000 BTC in early September before stabilizing. This marks a structural shift from earlier in the third quarter when major operators, including MARA and Riot Platforms, transferred assets to NYDIG. ## Hash Rate and Profitability Metrics Mining economics improved as transaction fees recovered from a seven-day average of $195,000 to $275,000. The Miner Profit/Loss Sustainability Indicator transitioned from "extremely underpaid" between May and August to "fairly paid" following August 21. Mining capacity expanded as total hash rate recovered from under 900 EH/s in late July to over 960 EH/s, narrowing its drawdown from peak capacity from 18% to 13%. This operational rebound coincides with broader network developments as Bitcoin attempted an $83,000 recovery and several on-chain Bitcoin indicators flipped bullish. Key Takeaways: - $48 Million Daily Revenue: Daily miner income rose 78% from $27 million as BTC crossed $83,000. - Outflow Ceiling: Daily miner wallet outflows stabilized below the 12,000 BTC normal threshold. - Hash Rate Rebound: Total processing power expanded past 960 EH/s from 900 EH/s in late July. - Satoshi Reserves Intact: Older miners hold 590,000 BTC after moving just 600 BTC in September. ## Why It Matters The cessation of miner capitulation removes a primary source of structural sell pressure that weighed on spot prices throughout mid-2026. Transitioning to a "fairly paid" state allows mining operations to meet cash flow requirements without liquidating reserves. However, full bullish continuation will depend on whether miners shift from balance stabilization to net accumulation in the coming quarters.