From Investing.com

August 2, 2024 4:00:25 pm:

Bitcoin (BTC) hashrate has grown by 6% in just three weeks, reaching a local high of 604 EH/s. This increase is seen as a positive signal for BTC’s performance by leading on-chain analysis firm CryptoQuant.

BTC miners need to raise hashrate by 2% to revisit all-time high. The recovering revenues have allowed miners to be fairly compensated after the block rewards were reduced by 50% in April.

Daily miner revenues have surged by almost 50% since early July, marking a significant improvement since the halving event caused a drop in block rewards to 31,25 Bitcoins (BTC) per block.

Bitcoin (BTC) miners are now more interested in accumulating their coins rather than selling them, which has contributed to easing the selling pressure in the market.

Bitcoin (BTC) miners are still sensitive to price volatility, with daily transaction fees seeing a significant drop in recent months.

Read more at Investing.com: Bitcoin (BTC) Hashrate Extremely Close to ATH, CryptoQuant Says By U.Today