CandleFocus Bitcoin Mining Revenue, Profit Fell in October for a Fourth Consecutive Month: JPMorgan
2024-11-01
Author: Content Editor
According to a research report by JPMorgan, daily bitcoin mining revenue and gross profit decreased in October for the fourth consecutive month. The report also noted that mining difficulty reached an all-time high in October. Despite the decline in revenue and profit, transaction fees surged toward the end of the month, providing some relief. The monthly average hashrate for the Bitcoin network experienced a record high in October, with a 9% gain compared to the previous month. Additionally, the total market cap of publicly listed miners rose by 14% to $23.9 billion, with companies that have high-performance computing exposure leading the way.
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