Acryptoinvest.news: Basic data tools for understanding Bitcoin mining
Bitcoin mining has come a long way since its inception in January 2009.
With all the types of information and data relevant to the Bitcoin mining industry, it can be difficult for new entrants to learn about the industry and keep track of all the data tools available.
This post provides a repository of useful data services for Bitcoin mining.
Current network hashrate
BTCcom
Braiins
The Bitcoin Explorer on BTCcom displays the current network hashrate using the latest 7-day averages (1, 3, and 14-day averages are also supported).
Over the years, there have been countless headlines in the media stating that the Bitcoin network hashrate jumped or fell 20% or 30% in a day, without the media realizing that they were looking at a 1-day average.
The current hashrate of the Bitcoin network – whether a 1-day average or a 14-day average – is calculated back from the average block production intervals over the period.
The block production interval is influenced not only by the network hashrate, but also by pure luck. The shorter the period, the more luck can affect block production. Thus, a 3-day or 7-day moving average is more accurate when measuring the current hashrate of the Bitcoin network.
Historical network hashrate
CoinMetrics
The Block Data Dashboard
Luxor
Likewise, when looking at the historical hashrate of the Bitcoin network, it is also important to use at least a 7-day moving average.
CoinMetrics, The Block and Luxor track historical network hashrate. CoinMetrics allows you to download raw data, and The Block data dashboard, sourced from CoinMetrics, makes it easy to embed a hashrate chart into your website's content management system.
Real-time hashrate by pool
BTCcom
Besides the current network hashrate, which is calculated back from block intervals, there is another way to measure real-time network hashrate by adding up the real-time data from the individual pools' APIs.
This metric is more useful when trying to see if the network hashrate or pool hashrate has undergone significant changes in recent days due to certain news events – such as China's crackdown on Bitcoin mining in June 2021.
Hashprice (hash prices) and Rigprice (mining rig prices) indices
Mining pool Luxor introduced the term Hashprice, which measures the income in dollars that 1 TH/s or 1 PH/s hashrate can generate in 24 hours. It takes into account both changes in the Bitcoin network hashrate and daily Bitcoin price volatility.
The mining pool also tracks the Bitcoin ASIC Index based on pricing data from its hardware brokerage service, manufacturer websites, and other third-party channels.
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Economics of the Mining Industry
F2Pool
Poolin
ASICMinerValue
Braiins
Mining pools F2Pool and Poolin have a miner rating page on their websites that lists all available mining hardware on various blockchain networks, including GPUs and ASIC miners. They collect the power consumption and hashrate of a specific hardware model so users can calculate daily earnings, energy costs, and profits.
ASICMinerValue is a site that tracks similar metrics for revenue, energy costs, and profits, but with a particular focus on ASIC hardware.
Braiin, operator of formerly Slushpool, goes even further. Their tool supports more detailed parameters through which users can more accurately calculate their daily profits, such as unique capital costs and operating expenses, whether or not there is any current debt due and at what interest rate, etc.