Bitcoin miners' daily revenue surges 78% to $48M, escaping months of financial distress
Bitcoin miners are recovering from months of financial pressure, with daily industry revenue climbing 78% from July's lows of $27 million to $48 million, according to CryptoQuant's weekly report. This follows Bitcoin's approximately 45% recovery from $58,000 to above $83,000. The hashprice, a measure of mining economics, also recovered to over $40 per petahash per second per day, its highest since January. CryptoQuant's Miner Profit/Loss Sustainability indicator shifted from "extremely underpaid" (May-August) to "fairly paid" since August 21, when Bitcoin reached approximately $76,000. This improvement has also led to a reduction in miner selling pressure, with extreme outflows not occurring since August 21, when about 29,000 BTC moved out of miner wallets.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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