The total revenue for Bitcoin miners amounted to $906 million last month, down 22% from April.
According to available data, the corresponding figure for Ethereum miners has fallen by 18% to $1.44 billion.
In mid-May, the mining complexity of Bitcoin mining reached a new all-time high at around 31.25 T. Then, following the drop in hashrate, the indicator corrected to 29.9 T. This reduction was the highest since July 2021.
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Meanwhile, the Ethereum hashrate reached an all-time high of 1,039 TH/s in mid-May. Earlier this month, following the launch of the Otherside metaverse, the average transaction fee on the Ethereum network hit an all-time high of $200.
Among mining pools, Foundry USA has the largest share of the hashrate (20.9%), followed by F2Pool (14.3%) and AntPool (14.2%).