Bitcoin Miners’ daily revenues fell sharply in June, but sales pressure is not yet felt in the market, according to encrypted data. Despite the decline in income, miners continue to accumulate BTC.
Bitcoin miner revenues at two months’ lows, but there is no sales pressure
Bitcoin Miner’s daily income fell to $34 million on June 22, reaching its lowest level since April, according to a weekly report shared by Cryptoquant. This level stands out as one of the weakest revenues of the past year.
The decline was driven by lower transaction fees and Bitcoin prices trading near local lows, weakening the incentives to keep miners online.
The Bitcoin Network’s total processing power, hashrate, has fallen 3.5% since June 16th. This is the sharpest pullback since July 2024.
The amount of BTC left with minor wallets has now dropped from 23,000 BTC per day in February to around 6,000 BTC now. No major transfers to exchanges were observed either.
A long-term investor (2009-2011), known as “atshi-era Miners,” who produced coins in the early days of Bitcoin (2009-2011), has also maintained its position. Only 150 BTC was sold from these wallets in 2025, but this figure was around 10,000 BTC in 2024.
On the other hand, mining addresses, which are wallets that normally belong to medium-sized operations, hold 100-1,000 BTC, and have added an additional 4,000 BTC since March, bringing the highest balance since November 2024.
Long-term expectations dominate
Instead of selling, miners are determined to burn cash reserves or wait for prices to recover, according to Cryptoquant. The report states:
“This clearly shows that there is no sales pressure from miners at current price levels.”
Although revenues are declining, refraining from selling Bitcoin miners is largely limiting potential sales pressures in the market, suggesting that Bitcoin finds support at its current level and remains a long-term bullish outlook.
*This is not investment advice.