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Bitcoin miner revenue climbs to $916 million in May
<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="theblock.co" target="_blank">The Block</a></span></span></span>
Quick Take
- Bitcoin mining revenue rose in May, reaching $916.6 million, according to The Block Research.
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Bitcoin mining revenue reached $916.6 million in May, a 13.7% month-over-month increase.
According to The Block's Data Dashboard, that figure includes more than $120 million in transaction fees. That's a sizeable bump, driven by on-chain activity.
As previously reported, the rise of bitcoin NFTs via Ordinals has driven a surge in transaction fee revenue to miners.
Data from The Block Research shows that May saw a significant jump in transaction activity on bitcoin, reaching 16.9 million for the month.
