Bitcoin miner revenue climbs to $916 million in May

Quick Take

  • Bitcoin mining revenue rose in May, reaching $916.6 million, according to The Block Research.

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.

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