Bitcoin Network Hashrate Reached Historic High in October

According to data released by JPMorgan, the Bitcoin network's hashrate surged to a historic high last month. However, this increase was paralleled by a decline in mining profitability. A decrease in daily block reward revenues and gross block reward profits negatively affected miners' profitability.

In this context, another significant development mentioned in the report was a 48% increase in the value of Cipher Mining. The company attracted attention by demonstrating impressive performance under current market conditions.

Bitcoin, hashrate, JPMorgan, mining profitability, Cipher Mining