What happened?
Bitcoin miner revenues have fallen to the lowest point in two months, reaching $34 million a day on June 22, 2025. This decline is mainly attributed to reduced transaction fees and the decreasing market price of Bitcoin. Despite this, miner selling activity has not increased significantly, suggesting strategies focused on reserve accumulation rather than immediate liquidation.
Who does this affect?
The immediate impact is felt by Bitcoin miners who are experiencing lower income from their operations. Investors and stakeholders in the cryptocurrency market may also feel uneasy due to the decreased mining rewards and potential implications for Bitcoin’s network security. However, miners holding between 100 and 1,000 BTC seem to be weathering the downturn by increasing their Bitcoin reserves.
Why does this matter?
For the market, a drop in Bitcoin miner revenue and low selling activity can indicate a potential slowdown in Bitcoin circulation, affecting liquidity. The decline in hashrate might raise concerns about network security and stability, although it hasn’t caused a rush to sell off Bitcoin holdings. The continued accumulation by miners reflects confidence in Bitcoin’s long-term value, possibly impacting investor sentiment positively despite current market volatility.