Total Bitcoin miners’ revenue in May reached $916 million.
The chart below shows the figure has been rising steadily since November last year.
The share of fees in total inflows last month was about 13.7%. By comparison, in April this figure approached 3%.
The rapid growth in miners’ fee income is likely linked to heightened on-chain activity due to the hype around Ordinals and BRC-20.
The aggregate volume of Bitcoin transactions in May reached 16.9 million, up 57% from April’s figure.
Earlier, ForkLog reported that, due to the increased issuance of BRC-20 tokens, daily inflows of Bitcoin miners from fees per block exceeded the rewards from its mining.