Bitcoin Miner Revenue Surpasses $1 Billion in May Amid Price Decline

Bitcoin miners generated a total revenue of $1.086 billion in May, marking the first time since January that earnings have exceeded the $1 billion threshold. According to ChainCatcher, Bitcoin.com reported that block subsidies contributed $1.079 billion to this total, while transaction fees remained minimal. Despite the revenue increase, miners are facing profitability challenges due to the recent decline in Bitcoin prices. The network's hash rate has decreased from the 1,000 EH/s range to below 975 EH/s. Consequently, the daily income per PH/s has dropped from $37.44 a month ago to approximately $30.77, representing a 17.82% decrease. The average block production interval has extended to 10 minutes and 49 seconds, and a network difficulty adjustment of around 7.5% is anticipated around June 13. In the past 24 hours, the proportion of transaction fees in block rewards has risen from less than 0.6% to approximately 1.16%, offering miners a slight buffer against the declining profitability.