Bitcoin Mining Daily Income Fell By 27% In May

According to Ycharts data, based on data from Blockchain.com, Bitcoin miners’ daily income declined by 27% in May.

On May 1, Blockchain.com reported $40.57 million in daily income for BTC miners. But by the end of the month, that figure shrinked to $29.37 million. On May 24, daily mining revenue hit an 11-month low of $22.43 million.

In April 2021, there was a surge in the level of daily revenue from Bitcoin mining – about $80 million. But since then, the figure has fallen by 62% to its current level.

Analysts at Bitinfocharts also noticed a negative trend. According to their data, mining profitability which is measured in daily dollars per terahash per second, has reached its lowest level since October 2020. Currently, mining profitability is 0.112 USD per day for 1 THash/s. This is down 56% since the beginning of 2022, and more than 75% from the 2021 high of $0.450/day per TH/s.

However, according to Bitinfocharts, the hash rate on the Bitcoin network remains high, with a daily average of 211.82 exahash per second. But compared to the all-time high (just over 250 EG/s on May 2), this figure is down by about 16%.

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