REPORT: Bitcoin Miners' Revenues and Profits Fall for Fourth Straight Month in October

Nov. 1 (Bloomberg) -- Bitcoin miners' revenues and profits declined for the fourth consecutive month in October, according to a report. According to the data, miners earned about $41,800 per EH/s in daily block reward revenue, a 1 percent decrease from September. Meanwhile, average daily block reward gross profits fell 2% to their lowest level in recent memory. Nonetheless, month-end transaction fees soared to 60% of block rewards, providing miners with some ‘hash price’ relief.

The report noted that the Bitcoin network's monthly average arithmetic hit a new high of 702 EH/s, up 9% from the previous month, and the seven-day moving average at the end of October was 748 EH/s, up 18% from the end of September and 62% year-over-year. In addition, the total market capitalisation of the 14 listed mining companies increased by 14 per cent to $23.9 billion, driven mainly by high-performance computing-related companies.