Bitcoin Mining Revenue Hits 11-Month High Despite Brutal Hashprice Decline

Bitcoin miners closed October with their highest monthly revenue in 11 months, even as bitcoin prices fell following the $6.3 billion Binance hack. However, profitability is under pressure: hashprice—a key measure of miner revenue per unit of computing power—has dropped 17.54% over the past 30 days, reflecting the recent price deterioration. The divergence between strong monthly revenue and weakening per-hash economics suggests miners are still benefiting from elevated network activity or transaction fees, but margins are compressing as the market absorbs the hack's fallout. Watch next: whether hashprice stabilizes as bitcoin finds footing post-hack, and whether miners' revenue momentum can persist into November despite the profitability squeeze.