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

72,196.40 as of most recent NY market close
24hr return -4.31%
year to date -11.95%

Performance

Time Returns Range
1D -4.31% 72,196.40 - 75,450.40
7D -8.64% 70,808.04 - 83,235.16
1M -3.22% 70,808.04 - 89,987.72
3M -5.88% 66,171.32 - 91,002.27
1Y -6.00% 61,723.50 - 103,792.14
2Y +43.61% 47,348.18 - 103,792.14
MTD -2.63% 70,808.04 - 83,235.16
QTD -2.63% 70,808.04 - 83,235.16
YTD -11.95% 61,723.50 - 96,288.19
Q2:26 -2.34% 66,171.32 - 91,002.27
Q1:26 -7.40% 61,723.50 - 96,288.19
Q4:25 -8.79% 78,647.33 - 103,792.14
Q3:25 +15.87% 67,106.09 - 101,240.53

Volatility

3 MONTHS99.70%
6 MONTHS105.12%
1 YEAR101.47%
2 YEARS98.01%

Sharpe

1 YEAR0.413
2 YEARS0.632
5 YEARS0.878

Sortino

1 YEAR0.583
2 YEARS0.924
5 YEARS1.321

ABOUT THE BENCHMARK

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

Quick Links

Methodology
Most Recent Factsheet

Historical Data

Date Open High Low Close
Jul 9, 2026 75,450.40 75,450.40 72,196.99 72,196.99
Jul 8, 2026 71,762.08 75,495.02 71,762.08 75,450.70
Jul 7, 2026 70,808.04 71,761.28 70,726.14 71,761.28
Jul 6, 2026 77,286.05 77,286.05 70,808.19 70,808.19
Jul 5, 2026 83,235.16 83,235.16 77,287.35 77,287.35
Jul 4, 2026 81,892.22 83,940.34 81,892.22 83,236.05
Jul 3, 2026 79,025.72 81,891.47 79,025.72 81,891.47
Jul 2, 2026 81,044.49 81,044.49 78,989.84 79,025.47
Jul 1, 2026 79,018.08 81,237.10 79,018.08 81,044.84
Jun 30, 2026 74,143.25 79,017.09 74,143.25 79,017.09
Jun 29, 2026 79,369.30 79,369.30 74,073.37 74,142.75
Jun 28, 2026 89,813.38 89,813.38 79,371.15 79,371.15
Jun 27, 2026 89,987.72 91,347.83 89,815.13 89,815.13
Jun 26, 2026 84,944.75 89,986.45 84,806.27 89,986.45
Jun 25, 2026 87,205.94 87,214.70 84,945.12 84,945.12
Jun 24, 2026 86,531.11 87,236.03 86,531.11 87,205.99
Jun 23, 2026 79,822.76 86,530.04 79,822.76 86,530.04
Jun 22, 2026 76,411.83 79,821.83 76,365.11 79,821.83
Jun 21, 2026 78,912.62 78,968.42 76,412.06 76,412.06
Jun 20, 2026 81,998.81 81,998.81 78,760.87 78,912.48
Jun 19, 2026 79,826.16 82,426.07 79,826.16 81,999.32
Jun 18, 2026 78,933.72 79,848.94 78,839.68 79,826.11
Jun 17, 2026 81,522.87 81,522.87 78,933.90 78,933.90
Jun 16, 2026 79,893.84 81,960.66 79,893.84 81,523.01
Jun 15, 2026 71,784.31 79,892.25 71,784.31 79,892.25