Kraken proposes measuring Bitcoin's hashrate with statistical ranges due to randomness of block times

posted 3 months ago
Hashrate data is inconsistent amongst public data sources because of the randomness in Bitcoin block times. Kraken believes establishing a hashrate range, rather than a single data point, depicts a more accurate picture.

Kraken's metric establishes a range with a statistical confidence level of 95% to estimate a lower and upper bound for hashrate. Instead of providing users with a single data point, setting a range offers a more accurate hashrate estimate. It further helps determine potential volatility in mining sentiment. It's worth mentioning that Bitcoin's hashrate volatility has declined in recent years, suggesting mining is becoming a more mature and stable industry.

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