In May 2023, bitcoin miners increased their income by 13.7% compared to April and earned $916.6 million.
informs The Block.
A significant part of the profit – more than 10%, or $ 125.9 million – was brought to the miners by transaction fees. There are more of them due to the popularity of new NFTs and, in general, increased activity in the blockchain.
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In May, Bitcoin fell by 5.5%, to $27.7 thousand per coin, while the complexity of mining
grew to a new all-time high of 51.23 trillion times. The complexity of mining is understood as the amount of computing power that is needed to find a new block in the bitcoin blockchain. Simply put, how many times on average miners have to calculate the hash value.
The revenue of miners from bitcoin mining in the first quarter of 2023 amounted to $1.98 billion. According to The Block, quarterly revenue increased by almost a third compared to the same period last year.