Bitcoin miners' daily revenue jumps 78% to about $48 million

Bitcoin miner daily revenue has rebounded sharply, climbing 78% to a peak of roughly $48 million, according to Jinse财经 citing a CryptoQuant weekly report. CryptoQuant said that after Bitcoin rallied about 45% from its July low of $58,000, miners' daily gross revenue rose from around $27 million in July to approximately $48 million at the peak. Mining profitability also improved. The "hash price," which tracks revenue per unit of hash power, briefly moved above $40 per PH/s per day—its highest level since January—before easing to around $39. The metric had previously slipped to about $27.70 in June. CryptoQuant's miner profitability sustainability indicator shows the sector has moved from "severe unprofitability" during May through August to "reasonable returns" since Aug. 21. The firm added that total network hash rate has recovered to about 962 EH/s, up from 899 EH/s on July 31. It also said extreme miner outflows have subsided, with recent daily outflows averaging roughly 12,000 BTC. CryptoQuant noted that Bitcoin's 365-day moving average, now near $80,000, remains an important short-term support level; a sustained drop below it could unwind the latest gains.