Bitcoin Mining Revenue Increases to Over $900 Million in May 2023 Driven by Ordinals Activity

In May 2023, the revenue generated from Bitcoin mining experienced a significant rise, reaching $916.6 million. This represents a month-over-month increase of 13.7%.

Bitcoin-based NFTs have quickly risen in popularity ranking second in terms of NFT sales per blockchain in May 2023. 

During that period, in gross sales, NFTs generated:

* $397 million on Ethereum

* $167 million on Bitcoin

* $57 million on Solana