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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.
