Hashprice
What Is 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.
How to Interpret
Declining hashprice squeezes miner margins, potentially forcing less efficient miners to capitulate. Rising hashprice incentivizes more mining investment.
More Mining Metrics
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.
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.
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.
Hash Ribbons
Compares the 30-day and 60-day moving averages of Bitcoin's hash rate. When the 30d MA crosses below the 60d MA, it signals miner capitulation; crossing back above signals recovery.