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.
Puell Multiple > 4 = miners are earning far above average — historically near cycle tops. Puell Multiple < 0.5 = miners under severe stress — historically excellent buying opportunities.
Compares actual block intervals to the expected 10-minute target. Faster blocks indicate hash rate is growing; slower blocks suggest miners are dropping off.
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.
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.
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.