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Bitcoin mining power reached a record high in October, but profits lagged behind

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2025-11-04 03:25:35
Bitcoin hashrate has reached an all-time high, but rising block difficulty continues to squeeze miners' profits.
Bitcoin miners faced multiple pressures in October. The industry set a record of 1.13 EH/s in October, indicating an increase in bitcoin mining participation. However, increased mining difficulty, higher energy prices, and a record $19 billion liquidation all cut into miners' profits.
Notably, daily earnings per EH/s fell 7% from September, from $52,000 to $48,000. In addition, the falling bitcoin price has also cut miner rewards, with Hashprice down nearly 12% this month.
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