Bitcoin mining revenues fell by more than 20% in May

Bitcoin • June 1, 2022, 4:18PM EDT

Bitcoin mining revenues fell in May by 21.6%, according to data compiled by The Block Research.

Last month, miners brought in about $906.2 million in revenue.

Compared to October 2021, that's an even bigger drop of about 47%. Monthly revenues have generally decreased since, with a slight uptick in March.

Most bitcoin revenues came from the block reward subsidy ($890.01 million) and only a small portion from transaction fees ($16.18 million). The share of Bitcoin transaction fees over total revenue increased in May to about 1.87%.

Ethereum miners made 1.08 times more in revenue than Bitcoin miners in May.

About Author

Catarina is a reporter for The Block based in New York City. Before joining the team, she covered local news at Patch.com and at the New York Daily News. She started her career in Lisbon, Portugal, where she worked for publications such as Público and Sábado. She graduated from NYU with a MA in Journalism. Feel free to email any comments or tips to [email protected] or to reach out on Twitter (@catarinalsm).