Bitcoin mining revenues fell by more than 20% in May
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.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Catarina Moura
