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 was previously mentioned, a rise in bitcoin NFTs via Ordinals has resulted in a significant increase in the transaction fee income for miners.
In May, there were 16.9 million bitcoin transactions, according to data from The Block Research, a significant increase.
