Bitcoin miners earned nearly $1 billion in May, increasing their revenue by 13.7% compared to April. A significant part of the miners’ profits came from transaction fees – they rose due to increased activity on the blockchain.
Bitcoin miners’ revenue in May 2023 amounted to $916.6 million, The Block reported. In May, the miners increased their profits by 13.7% compared to April.
More than 10% of the revenue, or $125.9 million, was contributed to the miners through transaction fees. Their number has grown due to an increase in activity on the blockchain, The Block notes that one hundred was a result of the popularity of the new NFTs.
In May, Bitcoin fell 5.5% to $27.7k per coin, while mining complexity refreshed its all-time high, the post clarifies.
The income of miners from bitcoin mining in the first quarter of 2023 amounted to 1.98 billion dollars. According to The Block, quarterly revenue from first cryptocurrency miners grew 28.7% year-over-year.
Author:
Kirill Bilyk
Source: RB
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