Bitcoin (BTC) Network Hashrate Hit Record Highs in October, JPMorgan (JPM) Says
JPMorgan reported that the Bitcoin network hashrate reached a record high in October, rising 5% to 1,082 EH/s.Summary
JPMorgan stated in a report that the Bitcoin network's monthly average hashrate hit a record high in October, increasing by 5% to 1,082 exahashes per second (EH/s). This metric reflects industry competition and mining difficulty, which was 3% higher at the end of October compared to September, and 80% higher than before the April 2024 halving event. Despite the increased hashrate, mining economics were pressured for the third consecutive month, with estimated daily block reward revenue per EH/s falling 3% to $48,000. However, the combined market capitalization of the 14 U.S.-listed mining companies tracked by the bank grew by 25% to $70 billion, largely fueled by high-performance computing announcements and excitement surrounding the sector's pivot toward Artificial Intelligence (AI).
(Source：CoinDesk)