The total market capitalization of 14 US-listed Bitcoin mining companies reached a record $56 billion in September, according to a JPMorgan report. This marks a 43% increase from the previous month. Notably, 12 of these companies outperformed Bitcoin itself during this period. The average hash rate of the Bitcoin network also rose by 9% to 1,031 EH/s. Despite these gains, miners faced profitability challenges due to increased competition, with daily block reward revenue and gross profit declining by 10% and 17% respectively month-over-month.