According to The Block analysts, bitcoin mining revenues reached $916.6 million in May, which is 13.7% more than the same indicator of the previous month.

Analysts believe that this is a significant jump caused by activity in the network. The surge in popularity of new Bitcoin-based NFTs has led to a sharp increase in miner revenue from transaction fees – more than $120 million.

Also in May, the number of transactions increased significantly – up to 16.9 million, while in previous months the average number of transactions per month ranged from 7.5 million to 10.7 million, according to the publication.

Recently it became known that after the next recalculation of the complexity of bitcoin mining, the indicator increased by 3.4% and reached 51.23 Tx. This is a record figure. For the first time, BTC mining difficulty has exceeded 50 trillion hashes.

In May, a solo miner with 750 TH/s processing power mined a block on the Bitcoin network at number 790,958. For the found block, the miner received a reward of 6.25 BTC (approximately $170,000).