Bitcoin mining revenue and profit decreased in October for the fourth consecutive month, according to a JPMorgan report. Daily mining revenue fell 1% to an average of $41,800 per exahash per second (EH/s), while daily block reward gross profit dropped 2%, reaching its lowest level on record. The report also highlighted that mining difficulty hit an all-time high in October. Notably, transaction fees rose, accounting for up to 60% of the block reward towards the month's end, providing some relief in hashprice, a metric for daily mining revenue. Furthermore, the monthly average hashrate surged to a record high of 702 EH/s, reflecting a 9% increase from September. The bank observed an 18% rise in the month-end seven-day moving average network hashrate compared to the end of September, and overall, the market capitalization of 14 publicly listed miners tracked by JPMorgan increased by 14%, reaching $23.9 billion, driven by firms with high-performance computing exposure.

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