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
Performance
| Time | Returns | Range |
|---|---|---|
| 1D |
+0.86%
| 79,030.04 - 79,707.18 |
| 7D |
-0.61%
| 74,361.55 - 84,345.65 |
| 1M |
+7.42%
| 73,171.80 - 85,144.75 |
| 3M |
-0.14%
| 66,820.71 - 89,987.72 |
| 1Y |
-18.42%
| 61,723.50 - 103,792.14 |
| 2Y |
+51.94%
| 49,813.55 - 103,792.14 |
| MTD |
-2.35%
| 74,042.25 - 85,144.75 |
| QTD |
+7.50%
| 66,820.71 - 88,401.55 |
| YTD |
-2.79%
| 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 MONTHS | 103.39% |
|---|---|
| 6 MONTHS | 102.67% |
| 1 YEAR | 100.01% |
| 2 YEARS | 97.97% |
Sharpe
| 1 YEAR | 0.263 |
|---|---|
| 2 YEARS | 0.662 |
| 5 YEARS | 0.850 |
Sortino
| 1 YEAR | 0.373 |
|---|---|
| 2 YEARS | 0.967 |
| 5 YEARS | 1.278 |
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 |
|---|---|---|---|---|
| Sep 20, 2026 | 79,030.04 | 79,706.54 | 78,444.95 | 79,706.54 |
| Sep 19, 2026 | 80,319.28 | 80,960.33 | 78,745.24 | 79,029.44 |
| Sep 18, 2026 | 74,361.55 | 80,319.13 | 74,361.55 | 80,319.13 |
| Sep 17, 2026 | 77,927.04 | 77,927.04 | 74,305.53 | 74,361.46 |
| Sep 16, 2026 | 84,345.65 | 84,345.65 | 77,927.90 | 77,927.90 |
| Sep 15, 2026 | 82,006.39 | 84,843.11 | 82,006.39 | 84,346.22 |
| Sep 14, 2026 | 80,197.79 | 82,006.01 | 79,839.04 | 82,006.01 |
| Sep 13, 2026 | 85,144.75 | 85,147.69 | 80,198.41 | 80,198.41 |
| Sep 12, 2026 | 83,206.24 | 85,155.39 | 83,206.24 | 85,144.65 |
| Sep 11, 2026 | 79,916.01 | 83,204.86 | 79,761.92 | 83,204.86 |
| Sep 10, 2026 | 77,823.84 | 80,092.54 | 77,771.23 | 79,916.39 |
| Sep 9, 2026 | 74,549.77 | 78,014.38 | 74,549.77 | 77,824.03 |
| Sep 8, 2026 | 80,804.30 | 80,804.30 | 74,197.52 | 74,549.01 |
| Sep 7, 2026 | 84,753.16 | 84,757.72 | 80,805.68 | 80,805.68 |
| Sep 6, 2026 | 78,923.42 | 84,753.06 | 78,923.42 | 84,753.06 |
| Sep 5, 2026 | 80,020.62 | 80,020.62 | 77,956.58 | 78,922.82 |
| Sep 4, 2026 | 80,605.00 | 81,275.87 | 80,021.00 | 80,021.00 |
| Sep 3, 2026 | 74,042.25 | 80,603.97 | 74,020.30 | 80,603.97 |
| Sep 2, 2026 | 77,440.37 | 77,440.37 | 74,028.22 | 74,042.44 |
| Sep 1, 2026 | 81,190.32 | 81,190.32 | 77,441.07 | 77,441.07 |
| Aug 31, 2026 | 81,628.87 | 82,110.02 | 81,190.93 | 81,190.93 |
| Aug 30, 2026 | 77,513.12 | 81,628.31 | 77,513.12 | 81,628.31 |
| Aug 29, 2026 | 73,495.53 | 77,511.62 | 73,231.04 | 77,511.62 |
| Aug 28, 2026 | 78,212.27 | 78,212.27 | 73,496.19 | 73,496.19 |
| Aug 27, 2026 | 78,174.52 | 78,553.92 | 78,174.52 | 78,212.74 |
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