Will Canny is a finance reporter at CoinDesk.n
Daily mining revenue and gross profit fell in October for the fourth month in a row, the report said.
The bank estimated that bitcoin miners earned an average of $41,800 per exahash per second of hashrate in daily block reward revenue, 1% less than in September.Profitability also fell. The bank estimated that daily block reward gross profit dropped 2% in October to the lowest level"on recent record."
The monthly average hashrate for the Bitcoin network surged to a record high of 702 EH/s in October, after a whopping 9% gain from the month previous, the report noted.
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