The move marks the second trade for Blake in fewer than three weeks as the journeyman guard heads to the ninth team of his 12-year career.
On June 25, during the 2015 NBA draft, the Portland Trail Blazers traded Blake along with first-round draft selection Rondae Hollis-Jefferson to Brooklyn in exchange for center Mason Plumlee and the Nets' second-round draft selection, Pat Connaughton.
The trade will help Brooklyn free up a modest amount of salary cap space. In June 2014, Blake signed a two-year, $4.3 million guaranteed contract with Portland on which he's owed $2.2 million during the 2015–16 season. Blake averaged 4.3 points per game for Portland last season.
Miller, on the other hand, is not due any guaranteed money if Brooklyn cuts him before Wednesday, according to NetsDaily.com. Brooklyn is expected to waive Miller, who averaged a combined 2.9 points per game during the 2014–15 season over time split between the Sacramento Kings and the Pistons.
In addition to cutting Blake's millions from its payroll, earlier on Monday the Nets waived Cory Jefferson, who was due $845,000 next season. The moves brought Brooklyn's combined cap savings on the day to more than $3 million.