Bitcoin Miners Defy Market Pressure as Daily Revenues Plummet to $34M – Here’s Why It Matters

Bitcoin miners are digging in their heels despite revenues hitting their lowest levels in months. At just $34 million in daily earnings, the squeeze is on—but these crypto cowboys aren't buckling yet.

The great miner standoff: While traditional markets would panic at such numbers, Bitcoin's decentralized army keeps humming along. No bailouts needed—just raw cryptographic horsepower and diamond-handed conviction.

What the numbers don't show: That $34 million figure hides a brutal truth about crypto cycles. Miners who survived the last bear market know this drill better than Wall Street 'experts' who still think Bitcoin is just for buying drugs.

The real story? This is where the weak hands get shaken out—before the next parabolic rally leaves paper-handed traders crying into their spreadsheets. Because in crypto, the money always flows from the impatient to the persistent.

This comes amid a broader market pullback and a drop in transaction fees, which have reduced earnings across the network.

The falling transaction fees can be linked to Bitcoin’s network activity dropping to levels not seen in over a year. This is because investors now mostly view the top crypto as a store of value rather than a means of payment.

Due to this, most investors hold on to their assets and do not spend or transact with them.

However, this attitudinal change is having a widespread impact on Bitcoin miners, who are now at their lowest paid level since July 2024.

Bitcoin miners refuse to sell

Despite declining revenues, BTC miners appear committed to holding their assets instead of selling to shore up their earnings.

CryptoQuant’s data shows that daily BTC outflows from miner wallets to exchanges have fallen sharply, from a February peak of 23,000 BTC to just 4,000 BTC as of June 26.

This reluctance to sell is also evident among so-called “Satoshi-era” miners, who have offloaded just 150 BTC in 2025, down from 10,000 BTC sold throughout 2024.

CryptoQuant attributes this behavior to relatively healthy operating margins. According to the firm, miners still operate with a 48% margin based on Net Unrealized Profit and Loss (NUPL) metrics data.

Moreover, Miner-held bitcoin reserves have also risen over the past months.

According to CryptoQuant, wallets holding between 100 and 1,000 BTC have increased their collective holdings from 61,000 BTC at the end of March to 65,000 BTC by June 26. This is the highest level since November 2024, signaling continued confidence and limited desire to cash out.