Bitcoin Network Hashrate Experiences Modest Decline in October
- The Bitcoin network hashrate fell by 5 exahashes per second (EH/s) to an average of 1,030 EH/s.
- U.S.-listed miners account for approximately 38% of the global Bitcoin network.
- Miners earned around $52,500 in daily block reward revenue per EH/s, a 6% increase from September.
- The total market cap of the tracked U.S.-listed bitcoin miners rose by 41%, reaching a record $79 billion.
- Bitfarms saw a significant gain of 129%, while Cango’s growth was limited to 3%.
The decline in hashrate follows record highs in August and September, indicating fluctuations in mining activity and competition within the industry. Despite this, the overall market cap for U.S.-listed miners surged significantly.
In summary, the Bitcoin network hashrate’s recent dip to an average of 1,030 EH/s contrasts with a robust market cap growth among miners, which reached a record $79 billion. (Source)
