BTC: Observed Hash Rate Ribbon — 30 / 60 Days

Bitcoin Observed Hash Rate Ribbon — 30 / 60 Days was 1.04 on 7 Nov 2026 (latest daily value).

30-day mean observed hash-rate estimate divided by its 60-day mean.

Why use it. Compare shorter and longer trends in difficulty-derived network work estimates. How to read it. Above one means the shorter mean exceeds the longer mean; below one means it is lower. This is a noisy statistical comparison, not measured miner capacity or a trading signal. Both windows include the plotted day. Sixty daily observations are required; missing inputs or a zero 60-day mean leave a gap, and partial input finality is retained.

Calculation. Use local canonical daily sum(block difficulty × 2^32) / 86,400 / 10^18 in EH/s. Compute sma(a,30) / sma(a,60) using unweighted daily observations and 40-digit Decimal arithmetic. Proved empty days contribute zero estimated work. Read published source coverage and finality; no price input is used.