JPMorgan: Bitcoin hashrate hit all-time high in October

The Bitcoin network's average hashrate reached an all-time high of 1,082 EH/s in October, a 5% increase from the previous month, according to a JPMorgan report cited by CoinDesk. The report noted that daily block rewards for miners averaged $48,000 per EH/s, a 3% decrease from the prior month. Meanwhile, the combined market capitalization of 14 publicly listed U.S. mining firms surged 25% in one month to approximately $70 billion. JPMorgan attributed this growth to market expectations surrounding the companies' pivot to artificial intelligence (AI).