CMBI Bitcoin Observed Work

CMBI Bitcoin Observed Work

CMBIWORK

The CMBI Bitcoin Observed Work (CMBIWORK) is designed to be a reactive, responsive and manipulation resistant measure of the amount of mining activity being conducted on the Bitcoin Network thoughout a 24 hour period.

Return

89,674.58 as of most recent NY market close
24hr return +4.84%
year to date +9.37%

Performance

Time Returns Range
1D +4.84% 85,530.86 - 89,674.58
7D -2.08% 83,205.47 - 91,578.10
1M -1.13% 79,264.44 - 95,342.77
3M +0.44% 78,647.33 - 103,792.14
1Y +37.39% 58,563.48 - 103,792.14
2Y +95.43% 36,773.35 - 103,792.14
MTD +9.37% 81,991.75 - 92,357.36
QTD +9.37% 81,991.75 - 92,357.36
YTD +9.37% 81,991.75 - 92,357.36
Q4:25 -8.79% 78,647.33 - 103,792.14
Q3:25 +15.87% 67,106.09 - 101,240.53
Q2:25 +16.83% 58,563.48 - 84,469.44
Q1:25 -3.97% 59,326.20 - 79,172.72

Volatility

3 MONTHS86.60%
6 MONTHS98.28%
1 YEAR96.68%
2 YEARS99.09%

Sharpe

1 YEAR0.766
2 YEARS0.783
5 YEARS0.843

Sortino

1 YEAR1.140
2 YEARS1.184
5 YEARS1.264

About The Index

The Coin Metrics Bletchley Index (CMBI) Mining Series are institutionally designed cryptoasset benchmarks that accurately and reliably represent the performance of the total Bitcoin network’s mining activity.

The CMBI Bitcoin Observed Work (CMBIWORK) is an aggregate representation of the previous 24hrs of CMBI Bitcoin Hash Rate Index data, used to reflect the implied number of hashes conducted over the previous 24hr period.

Index levels are calculated from the most recent block data received by Coin Metrics owned and operated Bitcoin nodes.

Key Information

Name CMBI Bitcoin Observed Work
Base date 2015-01-02
Base value 27.86
Constituents Bitcoin
Base unit Zettahashes per day
Administrator Coin Metrics

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Historical Data

Date Open High Low Close
Jan 9, 2026 85,530.86 89,673.49 85,277.53 89,673.49
Jan 8, 2026 85,257.88 85,633.93 85,257.88 85,531.13
Jan 7, 2026 83,205.47 85,257.57 83,205.47 85,257.57
Jan 6, 2026 87,092.17 87,092.17 83,110.56 83,204.92
Jan 5, 2026 91,578.10 91,578.10 87,085.04 87,092.55
Jan 4, 2026 91,044.15 93,096.66 91,043.93 91,579.54
Jan 3, 2026 91,577.88 91,781.84 90,963.45 91,044.09
Jan 2, 2026 92,357.36 92,891.54 91,352.19 91,577.66
Jan 1, 2026 84,014.64 92,356.81 84,014.64 92,356.81
Dec 31, 2025 81,991.75 84,013.20 80,563.11 84,013.20
Dec 30, 2025 90,851.79 90,851.79 81,992.69 81,992.69
Dec 29, 2025 92,473.05 93,869.46 90,853.78 90,853.78
Dec 28, 2025 93,078.26 93,335.29 91,998.13 92,472.28
Dec 27, 2025 91,489.11 93,077.59 91,072.56 93,077.59
Dec 26, 2025 91,485.57 91,979.67 91,027.23 91,489.77
Dec 25, 2025 95,060.49 95,084.90 91,486.01 91,486.01
Dec 24, 2025 92,274.78 95,087.97 92,274.78 95,060.32
Dec 23, 2025 87,194.93 92,273.67 87,194.93 92,273.67
Dec 22, 2025 85,484.73 87,194.37 84,649.17 87,194.37
Dec 21, 2025 90,562.43 90,562.43 85,485.45 85,485.45
Dec 20, 2025 92,278.15 92,553.74 90,562.76 90,562.76
Dec 19, 2025 88,564.55 92,280.08 88,564.55 92,278.20
Dec 18, 2025 88,584.16 88,908.60 88,189.39 88,564.11
Dec 17, 2025 91,498.11 91,787.79 88,584.33 88,584.33
Dec 16, 2025 84,064.23 91,497.89 84,064.23 91,497.89