The Capitals have struggled with their goaltending all season and currently sit three points from a wild card spot.
Capitals GM George McPhee told Micheletti that he believes his team would have at least 10 more points if their goaltending had been better this season.
According to multiple sources, the Capitals inquired about Miller's availability before last season's trade deadline.
In exchange for Miller, the Caps could possibly trade goaltender Michal Neuvirth along with picks and prospects.
Neuvirth's agent Patrik Stefan has publicly stated he is looking at getting his goaltending client moved.
Meanwhile, Bruce Garrioch of the Ottawa Sun recently argued that the Minnesota Wild is an obvious landing spot for Miller, with the future of Wild goaltender Josh Harding currently uncertain.
The 29-year-old Harding has been out of the lineup for the Wild since January 2 due to issues with his multiple sclerosis medication.
Miller currently holds a.925 save percentage and 2.68 goals against average with the last place Sabres this season.
The netminder will become an unrestricted free agent this summer as his five-year, $31 million contract expires. His contract currently holds a cap hit of $6.2 million.