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

87,174.54 as of most recent NY market close
24hr return +4.02%
year to date +6.32%

Performance

Time Returns Range
1D +4.02% 83,806.86 - 87,174.54
7D -2.72% 83,806.86 - 90,984.62
1M +8.54% 72,762.98 - 92,062.70
3M +11.11% 66,820.71 - 92,062.70
1Y -9.24% 61,723.50 - 101,477.86
2Y +51.15% 56,122.58 - 103,792.14
MTD -0.06% 73,250.31 - 92,062.70
QTD -0.06% 73,250.31 - 92,062.70
YTD +6.32% 61,723.50 - 96,288.19
Q3:26 +17.65% 66,820.71 - 88,401.55
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

Volatility

3 MONTHS97.40%
6 MONTHS101.79%
1 YEAR100.71%
2 YEARS99.29%

Sharpe

1 YEAR0.373
2 YEARS0.663
5 YEARS0.839

Sortino

1 YEAR0.534
2 YEARS0.975
5 YEARS1.263

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
Oct 18, 2026 83,806.86 87,174.12 83,806.86 87,174.12
Oct 17, 2026 86,988.74 86,988.74 83,715.50 83,806.44
Oct 16, 2026 88,518.44 88,789.66 86,989.89 86,989.89
Oct 15, 2026 90,984.62 90,992.74 88,518.46 88,518.46
Oct 14, 2026 88,066.04 90,987.10 88,066.04 90,984.57
Oct 13, 2026 88,547.93 88,977.36 87,759.86 88,065.89
Oct 12, 2026 89,608.88 89,822.34 88,525.81 88,547.83
Oct 11, 2026 82,604.57 89,608.24 82,604.57 89,608.24
Oct 10, 2026 78,875.65 82,604.08 78,875.65 82,604.08
Oct 9, 2026 82,057.87 82,057.87 78,854.13 78,875.45
Oct 8, 2026 87,246.95 87,246.95 82,058.41 82,058.41
Oct 7, 2026 91,573.78 91,573.78 87,247.39 87,247.39
Oct 6, 2026 92,062.70 92,956.21 91,574.72 91,574.72
Oct 5, 2026 80,143.48 92,062.05 80,143.48 92,062.05
Oct 4, 2026 73,250.31 80,141.01 73,205.92 80,141.01
Oct 3, 2026 78,408.22 78,408.22 73,250.41 73,250.41
Oct 2, 2026 79,550.93 79,550.93 78,409.07 78,409.07
Oct 1, 2026 82,397.16 82,397.16 79,197.43 79,551.37
Sep 30, 2026 87,229.10 87,229.10 82,397.46 82,397.46
Sep 29, 2026 88,294.24 88,871.91 87,229.55 87,229.55
Sep 28, 2026 85,706.52 88,294.05 85,706.52 88,294.05
Sep 27, 2026 80,947.69 85,706.38 80,947.69 85,706.38
Sep 26, 2026 79,450.65 80,947.19 79,450.65 80,947.19
Sep 25, 2026 76,495.38 79,449.31 76,469.39 79,449.31
Sep 24, 2026 72,762.98 76,559.03 72,373.79 76,495.52