TechFlow news, on November 1, according to CoinDesk, a latest research report from JPMorgan Chase showed that Bitcoin mining's daily revenue and gross profit have declined for the fourth consecutive month. Data indicated that in October, miners' daily block reward revenue per EH/s of computing power was $41,800, down 1% month-on-month, while gross profit from block rewards hit a recent low, declining 2% compared to last month.
Meanwhile, Bitcoin network's average monthly hashrate surged to a record high of 702 EH/s in October, up 9% month-on-month. The seven-day moving average hashrate at month-end reached 748 EH/s, up 62% year-on-year. Notably, transaction fees at month-end accounted for as much as 60% of block rewards, providing some support to miner revenues.
