Bitcoin mining hash rate reached a record high in October, but profits lagged behind
Jinse Finance reported that bitcoin hashrate has reached a historic high, but the continuously rising block difficulty continues to compress miners' profits. In October, bitcoin miners faced multiple pressures. The industry set a record hashrate of 1.13 EH/s in October, indicating increased participation in bitcoin mining. However, increased mining difficulty, rising energy prices, and a record $19 billion in liquidations have all reduced miners' profits. Notably, daily revenue per EH/s fell by 7% compared to September, dropping from $52,000 to $48,000. In addition, the decline in bitcoin price has also reduced miners' rewards, with Hashprice down nearly 12% this month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Client nodes, console, and API were not modified; Chainstack discloses attacker used the ARTEX framework
Elon Musk changes his stance! Tesla (TSLA.US) delays Cybertruck production halt to late summer 2027, just two days after suggesting “refund deposits”
Elon Musk stated that Cybertruck production will be extended until late summer 2027 to clear the order backlog, and Tesla's stock price rose by about 4%.
Japanese dovish policymaker urges "slow down": Price increases are not driven by demand, rate hikes may drag down the economy and inflation
Toichiro Asada, a member of the Bank of Japan's Policy Board, stated that the central bank needs to remain cautious and closely monitor the impact of rate hikes on the economy, as rising interest rates pose the risk of suppressing the inflation trend.
Crypto prices
More
