Bitcoin mining revenue reached $916.6 million in May, a 13.7% month-over-month increase.
According to The Block's Data Dashboard, that figure includes more than $120 million in transaction fees. That's a sizeable bump, driven by on-chain activity.
As previously reported, the rise of bitcoin NFTs via Ordinals has driven a surge in transaction fee revenue to miners.
Data from The Block Research shows that May saw a significant jump in transaction activity on bitcoin, reaching 16.9 million for the month.