The week through Saturday, Nov. 7, brought opposing signals for Bitcoin (BTC)’s mining network: its seven-day hash-rate average dropped 2.4%, while miner-linked balances gained 8,087 BTC.
For Saturday, Nov. 7, the seven-day average measured about 1.027 zettahashes per second (ZH/s) at 12 a.m. ET (5 a.m. UTC), 25.73 exahashes per second (EH/s) below its level a week before. That was its lowest reading in almost three weeks.
Miner-linked balances reached about 1.2021 million BTC. An earlier EconoTimes report on Bitcoin’s hash rate and miner holdings put the Oct. 17 total at 1,192,622 BTC after a weekly increase of 379 BTC.
Hash rate tracks the computing power backing Bitcoin, but this measure alone does not establish whether miners’ returns changed. The Puell Multiple stood at 0.93, compared with about 1.03 a week earlier. It sets the daily dollar value of new Bitcoin issuance against its average over the prior year; a reading below 1 puts that day’s value under the baseline.