Bitcoin Mining Companies Reach Record Network Hashrate In October

According to Foresight News, CoinDesk reports that the network hashrate share of 14 U.S.-listed Bitcoin mining companies tracked by JPMorgan reached a record 28.9% in October. This represents an increase of approximately 70% (80 EH/s) to 194 EH/s, while the overall network hashrate increased by 33%. JPMorgan noted that the network hashrate has increased by 4% so far this month, reaching an average of 672 EH/s. JPMorgan also highlighted that with the rise in Bitcoin prices, mining stocks have seen varied performance in the first two weeks of the month. Greenidge Generation (GREE) outperformed the market with a 29% increase, while Stronghold (SDIG) underperformed, declining by 17%.