Ah, the sweet fragrance of success wafts through the air as bitcoin miners bask in the glory of their most profitable month since the great Halving of April 2024. A staggering $1.52 billion was mined in May—enough to make even the most stoic of miners crack a smile (if only for a moment).
The Glorious Return of Bitcoin’s Bounty
Bitcoin miners have struck gold once again—this time raking in their highest earnings in over a year. May 2025 saw them pocket a tidy sum of $1.52 billion, a number not seen since the network’s fourth halving event in April 2024. And of course, not all of that came from block subsidies—$20.09 million came from the ever-so-charming onchain fees.
Oh, but let us not forget the humble days of December 2024 when the previous high of $1.44 billion seemed like the pinnacle of miner prosperity. Those days, my dear reader, now seem almost quaint in comparison. Back then, fees and block rewards danced together in harmony, bringing miners the riches they deserved.
Now, with a whopping 22% less per petahash than pre-halving days, the current earnings may seem paltry, but a miner knows that it’s all about that sweet, sweet BTC price. In April 2024, before the halving, $1.79 billion was made, $281.47 million of which was purely from fees. In contrast, May 2025 saw fees shrink to a meager 1.32% of the total—because who needs fees when the price of bitcoin is doing all the heavy lifting?
Ah yes, the irony is rich. In April 2024, fees were 15.73% of the total earnings, making up for any lull in the price. But now, with BTC soaring, the revenue is nearly all thanks to its price appreciation. And still, even the mighty bitcoin miners face the grim reality that their daily earnings per petahash have dipped from $54.78 to $52.25. If they’re hoping to repeat May’s success, they’ll need to see that hashprice rise once more.
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2025-06-02 19:27