Bitcoin’s October Hibernate: Miners Take a Coffee Break While Prices Play Hide & Seek

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Markets A mountain of digital coins

What to know:

  • Apparently, even the Bitcoin network decided to hit the pause button-its hashrate slid 5 EH/s into that mysterious realm called ‘Why bother?’ dropping to a modest 1,030 EH/s after some rather boastful August and September record-breaking parties.
  • The US-mining crew, those brave souls tracked by JPM, now make up 38% of the global digital gold rush, ballooning their market cap by a staggering 41%, to a record-breaking $79 billion-because who needs sleep when you’re mining digital diamonds?
  • Meanwhile, daily block rewards per EH/s did a little upward dance of 6%, reaching $52,500, as the hashprice-a fancy measurement of how hard your mining rig is working-decided to drop by 7%, probably out of spite or maybe just because it’s October.

So, the Bitcoin network took a brief timeout, snuggling into a cozy corner of the blockchain lounge, dabbing at its digital forehead and sighing contentedly at the grand total of 1,030 EH/s. After some wild rodeo in August and September, it looks like even cryptographic cowboys need a breather.

U.S.-listed miners, who are always flashing their shiny hardware, now account for roughly 38% of everything, everywhere. The total computational army involved in powering up the Bitcoin universe took a tiny step back-probably tired from all that recent record-smashing.

For those not lost in the technical jungle, ‘hashrate’ is just a fancy way of saying “how pushy the computer power is” in this game of digital hide-and-seek. And the players? They’re fierce, competitive, and apparently, on coffee break.

Reginald and Charles over at JPM mentioned that their favorite Bitcoin miners and data centers reached a combined market cap of a jaw-dropping $79 billion, which is roughly enough Monopoly money to buy a small country or at least a really fancy yacht.

Despite the slowdown, miners still earned their $52,500 per EH/s daily-good work if you can get it-but the hashprice decided to dip 7%. Maybe it’s just a grumpy Monday in crypto-land.

All in all, the American miners outdid themselves, with some like Bitfarms leaping by 129%. Meanwhile, Cango sat modestly at a 3% rise, perhaps contemplating the meaning of digital life-or maybe just waiting for the next big wave.

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2025-10-16 19:19