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.
Sustained periods of unprofitable mining historically precede miner capitulation and often occur near bear market bottoms.
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.
The total computational power dedicated to Bitcoin mining, measured in exahashes per second (EH/s). Higher hash rate = more secure network.
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.
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.