JPMorgan Says Bitcoin Hashrate Soars To New Record In October

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.

#Bitcoin miners are working harder than ever! In October, the Bitcoin network #hashrate hit a record 1,082 EH/s, yet mining profits dipped slightly.
Do you think higher hashrate signals strength for #BTC or just more competition cutting into profits? 💭https://t.co/mOjLoJKdsx

— FXCOINZ (@fxcoinz) November 3, 2025

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 market capitalization of 14 U.S.-listed mining firms tracked by JPMorgan surged 25% to $70 billion in October, fueled by optimism over the industry’s pivot toward artificial intelligence.

Cipher Mining led with a 48% monthly gain, while Cango lagged, down 5%, making it the only miner to underperform Bitcoin, which slipped 3.9%.

Also read:

Huggies Maker Kimberly-Clark Buys Kenvue, Parent Of Tylenol, For $48 Billion

Kimberly-Clark, the maker of Huggies and Kleenex, announced a $48.7 billion deal to acquire Kenvue, the parent company of Tylenol, creating one of the largest consumer goods companies in the world. Kimberly-Clark is buying Tylenol maker Kenvue in an approximately $48.7 billion cash-and-stock deal, creating a massive consumer

tippinsightsTIPP Staff