The total market cap of the 14 U.S.-listed bitcoin miners that the bank covers rose 41% from the end of last month to a record $79 billion.
By Will Canny|Edited by Stephen Alpher
Oct 16, 2025, 3:14 p.m.
- JPMorgan said the Bitcoin network hashrate fell 5 EH/s in early October to 1,030 EH/s after hitting record highs in August and September.
- U.S.-listed miners that the bank tracks now account for 38% of the global hashrate, with their combined market cap jumping 41% to a record $79 billion.
- Daily block rewards per EH/s rose 6% to $52,500, while the hashprice declined 7%, in the first two weeks of the month, the report said.
The Bitcoin network hashrate declined modestly in the first two weeks of October, dropping 5 exahashes per second (EH/s) to an average of 1,030 EH/s, Wall Street bank JPMorgan (JPM) said in a report Thursday.
The pullback in the hashrate follows the successive record highs seen in August and September.
STORY CONTINUES BELOW
U.S.-listed miners that the bank tracks now account for around 38% of the global network.
The hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and is a proxy for competition in the industry and mining difficulty.
“HPC enthusiasm continued over the first two weeks of October, as the 14 bitcoin miners and data center operators we follow reached a combined market cap of $79 billion,” analysts Reginald Smith and Charles Pearce wrote.
Miners earned around $52,500 in daily block reward revenue per EH/s, an increase of 6% from the end of September, the report said, but the hashprice, a measure of daily mining profitability, fell 7%.
The total market cap of the 14 U.S.-listed bitcoin miners that the bank covers rose 41% from the end of last month to a record $79 billion. All these companies outperformed BTC over the period.
Bitfarms (BITF) outperformed with a 129% gain, and Cango (CANG) underperformed the group with a 3% rise, the report added.
Read more: Bitcoin Miners Emerge as Key AI Infrastructure Partners Amid Power Crunch: Bernstein
Plus pour vous
Par CoinDesk Data
10 oct. 2025
Combined spot and derivatives volumes fell 17.5% in September, continuing a four-year seasonal trend
Ce qu’il:
- Trading activity falls 17.5% in September slowdown: Combined spot and derivatives volumes dropped to $8.12 trillion, marking the first decline after three months of growth. September has now seen reduced trading volume for the fourth consecutive year.
- Open interest reaches record high despite derivatives market share decline: Total open interest surged 3.2% to $204 billion and peaked at an all-time high of $230 billion during the month.
- Altcoins on CME outperform as Bitcoin and Ether futures decline: While CME’s total derivatives volume stayed flat at $287 billion (-0.08%), SOL futures jumped 57.1% to $13.5 billion and XRP futures rose 7.19% to $7.84 billion. BTC and ETH futures fell 4.05% and 17.9% respectively.
Plus pour vous
Par Will Canny, AI Boost|Édité par Aoyon Ashraf
il y a 3 minutes
Institutions are embracing stablecoin technology to cut costs, speed up settlement times, and unlock liquidity in a $150 trillion payments market.
Ce qu’il:
- KPMG says stablecoins can slash cross-border settlement times from days to seconds while driving down transaction costs by up to 99%.
- Banks currently move about $150 trillion annually through slow, costly correspondent networks that tie up large sums in nostro and vostro accounts.
- Early movers like JPMorgan and PayPal show growing demand for blockchain-based payment rails, the report said.
