Bitcoin miners’ revenue falls 22% in May

In May, the total revenue of Bitcoin miners stood at $906 million. The figure fell 22% from April, according to ForkLog’s analytical report.

The corresponding figure for Ethereum miners fell by 18%, to $1.44 billion.

In mid-May, Bitcoin mining difficulty reached an all-time high of 31.25 TH. Then, following the falling hashrate, the metric corrected to 29.9 TH. This decline was the largest since July 2021.

The Ethereum hashrate reached a record 1039 TH/s in mid-May. At the start of the month, amid the Otherside metaverse launch, the average transaction fee on the network of the second-largest cryptocurrency rose to a record high of $200.

Among mining pools, the largest share of hashrate is held by Foundry USA (20.9%). It is followed by F2Pool (14.3%) and AntPool (14.2%).

Sponsor of the ‘Bitcoin Industry in Numbers’ column — the global blockchain ecosystem Binance.

Earlier in the State Duma, an updated draft law ‘On Mining in the Russian Federation’ was registered. The new document excluded provisions relating to the registry of mining participants and the ‘amnesty’ for the latter.

The New York State Senate approved a two-year moratorium on cryptocurrency mining powered by energy generated from carbon-based sources.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, rates and analytics.