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News · Nov 7, 2026 · 3 min read

Bitcoin today: payrolls beat by 100,000, Treasury cuts off MEXC, ETFs shed $430 million

US employers added 165,000 jobs in October against a forecast of 65,000, and bitcoin barely moved from $76,000. Spot ETFs lost $430 million on Thursday, and Treasury cut one of the world's biggest exchanges off from US banks.

Firsthand card: "Bitcoin today: payrolls beat by 100,000, Treasury cuts off MEXC, ETFs shed $430 million", a news card with no figure

Payrolls beat the forecast by 100,000 and bitcoin held near $76,000

US employers added 165,000 jobs in October and the unemployment rate fell to 4.1%, the Bureau of Labor Statistics reported on Friday. CoinDesk put the forecast at 65,000, and said September's gain was revised up from 29,000 to 60,000. Average hourly earnings rose 0.4% in the month.

Strong jobs data keeps the Federal Reserve's next move in doubt. Before the report, traders had put the odds of a December rate hike at about 70%, according to CoinDesk, and the 10-year Treasury yield rose to 4.894% as the data landed.

Bitcoin dipped to about $75,800 after the release and was back near $76,000 within hours. Our daily series closed at $75,989 on 6 November, almost exactly where it stood a day earlier after Thursday's selloff.

A jobs number 100,000 above forecast moved bitcoin by less than 1%.

Chart: Bitcoin's daily price since mid-October. The slide from $80,431 on 5 November to about $76,000 on 6 November is the drop at the right-hand end; Friday's jobs data added no new leg. Open the chart

Spot bitcoin ETFs shed $430 million on Thursday

US spot bitcoin ETFs recorded net outflows of $430.2 million on Thursday 5 November, CoinDesk reported. Fidelity's FBTC lost $199.9 million and BlackRock's IBIT $105 million. The week through Thursday came to $869.8 million out.

Our ETF flows chart shows the same $430.2 million for 5 November, and the week's shape: $398.6 million out on Monday, $115.6 million out on Tuesday, a $74.6 million inflow on Wednesday, then Thursday's exit as stocks fell.

Chart: Net flow into the US spot bitcoin ETFs each trading day since 1 October. Four of the last five days to 5 November were outflows. Open the chart

Treasury cuts MEXC Global off from the US financial system

On Friday the US Treasury's financial crimes unit, FinCEN, ordered US financial institutions not to process funds transfers involving the exchange MEXC Global. The Treasury release says the exchange facilitated at least $16 billion of illicit transactions between May 2021 and May 2026, including Russian, Iranian and North Korean sanctions evasion, and that it kept dealing with the sanctioned Russian exchange Garantex and its successor. The Block carried the same figures.

The order takes effect 30 days after it is published in the Federal Register. It cuts the exchange off from the dollar system rather than shutting it down, and it adds to a run of actions against exchanges that touch sanctioned countries.

The Labor Department's 401(k) rule goes to the White House for review

The Department of Labor has sent its proposed rule on alternative assets in 401(k) plans to the White House's Office of Information and Regulatory Affairs, The Block reported. The rule would set out how plan fiduciaries weigh assets such as digital assets and private equity, following an executive order from President Trump. Senators Bernie Sanders and Elizabeth Warren have urged the department to drop it.

Nothing is final: the rule is under review and unpublished, and the report gives no timeline.

TeraWulf's bitcoin mining revenue fell 69% as AI leasing took over

TeraWulf reported third-quarter bitcoin mining revenue of $13.2 million, down from $43.4 million a year earlier, according to The Block. Revenue from leasing capacity for high-performance computing rose to $63 million from $7.2 million, and now makes up 83% of the company's total.

It is the same story as the share-price falls in the 6 November recap: listed miners are being priced as AI landlords, and their bitcoin revenue is shrinking by design. It says nothing about what a machine on cheap power earns from the network.

What it means for miners

Hashprice, what a petahash earns in a day, was $32.48 on 6 November at that day's price, against $34.29 on 5 November. The fall is the bitcoin price; the coins per petahash held at about 0.000427 on both days.

Our series estimates the next difficulty adjustment at about −3.1%, 901 blocks away, which would raise a petahash's coins. The Fear & Greed Index read 28 on 6 November and 25 on 7 November, in the fear zone.

On the most efficient machine in stock, at the cheapest site that can run it, electricity for one bitcoin costs about $19,500 today, against a market price of $76,016 on 7 November. A machine on cheap power keeps adding coins at that cost whichever way a jobs report or an ETF flow pushes the price. Output is never guaranteed, and this is not a price call.

Electricity for a coin: about $19,500. The market price: $76,016.

Chart: Hashprice in dollars per petahash per day since mid-September. The last readings are 6 and 7 November. Open the chart

Sources and further reading

Disclosure

Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.