Bitcoin Mining Revenue Increases in May Amid Price Surge

According to PANews, investment bank Jefferies has reported that Bitcoin mining revenue saw an 18.2% month-over-month increase in May. This rise is attributed to a 20% surge in Bitcoin prices and a modest 3.5% growth in the network's total hash rate. The report highlights that North American miners increased their share of the global hash rate from 24.1% in April to 26.3% in May. MARA Holdings led the mining efforts in the region, producing 950 Bitcoins, marking a 35% increase from the previous month.