Mining Puellmultiple Puellmultiple
Bitcoin
The Puell Multiple divides daily miner revenue (in USD) by its 365-day moving average.
Why it matters
It gauges miner profitability relative to its yearly norm, a cycle-timing tool.
How it is built
Daily issuance value is divided by its 365-day moving average.
What to watch
Low readings (<0.5) mark miner capitulation near bottoms; high readings (>4) mark euphoric tops.
Related metrics
- Mining Revenuevscost Revenuevscost
- Mining Miningpulse Miningpulse
- Mining Mining Thermocap Mining Thermocap
- Mining Minerprofitabledays Minerprofitabledays
- Mining Hashribbons Hashribbons
- Mining Hashprice Hashprice
- Mining Difficultyregression Difficultyregression
- Mining Difficultyperissuance Difficultyperissuance