Hashprice, a term coined by Luxor, refers to the expected value of 1 TH/s of hashing power per day. The metric quantifies how much a miner can expect to earn from a specific quantity of hashrate. You can denominate Hashprice in any currency or asset, but we display the metric in terms of USD or BTC (sats). For example

• $0.20 per terahash/second per day ($0.20/TH/s/day)
• 475 satoshis per terahash/second per day (475 sats/TH/s/day)

Hashprice is a function of three inputs: network difficulty, Bitcoin’s price, and transaction fees. Bitcoin’s hashprice will change with every new block added to the blockchain. Luxor's Bitcoin Hashprice Index uses a 144 lagging SMA to account for transaction fees.

Hashprice is positively correlated with changes to Bitcoin’s price and transaction fee volume and negatively correlated with changes to Bitcoin’s mining difficulty.