The Bitcoin network’s hashrate hit a record high in October, signaling growing competition among miners, according to a JPMorgan report released Monday. The monthly average hashrate rose 5% to 1,082 exahashes per second (EH/s), marking an 80% increase since the April 2024 halving. Mining difficulty also climbed 3% from September. JPMorgan analysts Reginald Smith and Charles Pearce said mining economics remained under pressure for the third consecutive month. Miners earned an average of $48,000 per EH/s in daily block rewards, down 3% from September, while gross profits fell 4%. Despite tighter margins, the combined ... (full story)