In recent months, the revenue of Bitcoin miners has seen a noticeable decrease, while sales remain at record lows. This indicates miners' ongoing confidence in Bitcoin's long-term value.
Bitcoin Miners' Revenue
As of June 22, 2025, daily revenues for Bitcoin miners stood at $34 million. This decline is primarily attributed to reduced transaction fees and a slight drop in BTC price.
Minimal Miner Selling Activity
The analytics firm CryptoQuant reports that miner selling activity remains historically low. Since April 2025, miners have accumulated approximately 4,000 BTC, opting for accumulation over liquidation.
Market Perspectives
Despite the revenue drop, Bitcoin remains the only materially affected asset. The modest price decline impacts miners' operational cash flows, yet they continue to accumulate BTC. Reduced selling activity during this period could enhance market confidence. The observed pattern indicates possible stability in Bitcoin's supply-demand equilibrium.
Amid declining revenues, Bitcoin miners' preference to accumulate rather than liquidate contributes a degree of confidence to the market. Long-term trends may indicate miners' resilience to immediate financial pressures.
