Bitcoin miners’ revenues rise by almost 14% in May
The profit growth took place amid an increase in the number of transactions on the network
02.06.2023 - 09:10
857
2 min
0
What’s new? Bitcoin miners earned $916 million in May, including more than $120 million in transaction fees, according to The Block. The increase in revenue compared to April was 13,7%. As noted by representatives of the publication, a significant jump in activity on the Bitcoin network led to an increase in profits. Thus, the number of transactions reached 16,9 million in May.
Bitcoin network statistics. At the end of 2022, Russian miners earned about 50-60 billion Russian rubles from cryptocurrency mining, this put the country in second place in the world ranking after the United States. Industry participants used about 1 GW of electricity to mine cryptocurrencies in the Russian Federation.
The difficulty of bitcoin mining also continued to set records. As of June 2, it reached 51,23T. According to blockchain explorer BTC.com, the network’s average hashrate is at 373,01 EH/s after another recalculation. As of 08:45 UTC, BTC to USDT is trading at $27 121, having added 0,91% per day.
In this, the total trading volume of BTC and ETH fell to its lowest in 4 years. Thus, according to Santiment, during the week from May 10 to May 17, the trading volume of BTC amounted to $11,45 billion and ETH — $4,62 billion.
The number of major cryptocurrencies on centralized exchanges also fell to its lowest values, with users storing only 5,7% of BTC and 10,1% of ETH issuance on the platforms on May 20, the lowest since 2017 and 2015, respectively. According to experts, the decline in the index usually indicates a future bull market.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$64 444
BTC
-3.07%
-
Ethereum
$1 818.28
ETH
-1.68%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.2
XRP
-0.16%
-
Dogecoin
$0.091456
DOGE
-0.15%
-
TRON
$0.160134
TRX
-1.59%
-
Zcash
$631.4
ZEC
+6.69%
-
Cardano
$0.200955
ADA
-4.87%
-
Stellar XLM
$0.209904
XLM
-3.55%
-
Polkadot
$3.32
DOT
+5.27%