Bitcoin mining revenue reached over one billion dollars in October 2026

Bitcoin miners generated approximately 1.12 billion dollars in revenue during October 2026, marking the highest monthly earnings for the industry since January. Shattered.io reported the figure based on data provided by mining industry tracker MillionMiner. [1]

The increase in total earnings came as hashprice, which measures mining revenue per unit of computing power, pushed back above 40 dollars. Shattered.io reported that global hashrate, representing the total combined computing power securing the Bitcoin network, reached approximately 941 exahashes per second, approaching the 1 zettahash per second threshold. [1]

The revenue rebound occurred four years after the 2024 halving event reduced the block subsidy to 3.125 BTC per block. That reduction compressed operational margins across the sector and led to the exit of weaker operators. [1]

Proof of work is a cryptographic mechanism where one party demonstrates to others that a specific amount of computational effort has been expended. The system was originally proposed by Moni Naor and Cynthia Dwork in 1993 to deter denial of service attacks. [3]