Difficulty Regression
What Is Difficulty Regression?
A model that tracks Bitcoin's price relative to mining difficulty. Since miners are key price-insensitive sellers, the relationship between price and difficulty provides fundamental price support levels.
How to Interpret
Price below the difficulty regression model historically signals undervaluation relative to the security spend on the network.
More Mining Metrics
Mining Fee Revenue
The percentage of total miner revenue derived from transaction fees vs. block subsidies. As block rewards halve, fee revenue becomes increasingly important for mining sustainability.
Profitable Mining Days
The percentage of days in which mining at the current hash rate and difficulty would have been profitable. Indicates the overall health and sustainability of mining.
Puell Multiple
The ratio of daily miner revenue (in USD) to the 365-day moving average of daily miner revenue. Measures miner profitability relative to historical norms.
Hashprice
The daily revenue miners earn per unit of hash rate (typically per terahash per second per day in USD). The key economic metric for mining profitability.