Bitcoin Hashprice Index

Hashprice, a term coined by Luxor, refers to the expected value of 1 TH/s of hashing power per day. The metric quantifies how much a miner can expect to earn from a specific quantity of hashrate.

Hashprice is a function of four inputs: network difficulty, Bitcoin’s price, block subsidy and transaction fees. Bitcoin’s hashprice will change with every new block added to the blockchain. Luxor's Bitcoin Hashprice Index uses a 144 lagging SMA to account for transaction fees.

Hashprice is positively correlated with changes to Bitcoin’s price and transaction fee volume and negatively correlated with changes to Bitcoin’s mining difficulty.