According to Glassnode data, the balance of Bitcoin miners decreased from approximately 1.84 million BTC in early 2023 to nearly 1.8 million BTC in May 2024. This decrease indicates that miners have increased selling to offset operating costs, and the decrease in block rewards after halving may exacerbate this situation. After halving, transaction fees surged, accounting for 75% of miner revenue, as miners rely more on transaction fees to adapt to lower block rewards. This shift indicates a fundamental change in miners' sources of income and may affect their future strategies.