Bitcoin Mining Revenue, Profit Fell in October for a Fourth Consecutive Month: JPMorgan
Summary
Daily bitcoin mining revenue and gross profit declined for the fourth consecutive month in October. Bitcoin miners earned an average of $41,800 per exahash per second, a 1% decrease from September. Daily block reward gross profit fell by 2%, reaching the lowest level on recent record. Transaction fees increased significantly, reaching up to 60% of the block reward, offering some relief. The Bitcoin network's average hashrate hit a record high of 702 EH/s, with a 9% monthly increase and a 62% year-on-year rise. The market cap of 14 publicly listed miners rose 14% to $23.9 billion, driven by high-performance computing exposure.
