PANews reported on November 1 that according to a JPMorgan report, Bitcoin miners' revenue and profits fell for the fourth consecutive month in October. Data showed that miners' daily block reward income was about $41,800 per EH/s, a decrease of 1% from September. At the same time, the average daily block reward gross profit fell by 2%, reaching the lowest level in recent times. Nevertheless, transaction fees soared to 60% of block rewards at the end of the month, providing miners with some "hash price" relief.
The report pointed out that the average monthly computing power of the Bitcoin network hit a new high of 702 EH/s, an increase of 9% from the previous month. The seven-day moving average computing power reached 748 EH/s at the end of October, an increase of 18% from the end of September and a year-on-year increase of 62%. In addition, the total market value of 14 listed mining companies increased by 14% to US$23.9 billion, mainly driven by high-performance computing-related companies.
