BTC: Miner Rolling Inventory (30-Day)

Shown as its 2019–2022 sample; the latest readings and full history are included with Plus.

The coins miners sent out of their addresses over the last 30 days, against the coins they mined in the same 30 days.

Why use it. It shows whether miners are spending only their new coins or also drawing on what they had saved: a running measure of miner inventory. How to read it. Below 1, miners sent out less than they mined and their balances grew; above 1 they spent more than they mined, drawing down savings, as in capitulations and after halvings.

Calculation. Miner outflow over the 30 UTC days ending with the day ÷ the coinbase value (subsidy plus fees) miners claimed in the same days, both in BTC; all 30 days are needed. Computed by CryptoKeyhole from its own Bitcoin node. Miner addresses are every address paid by a coinbase transaction; miner outflow is the value those addresses send to addresses outside that set, as on the Miner Outflow Volume chart, and miners to exchanges the part of it landing directly at the covered exchanges' labelled addresses. A pool paying its members counts as outflow. Days are UTC days by block header time; the open day is partial.