Description
Definition. This chart presents the estimated relative share of hashrate attributed to three cohorts of miners:
- 🔵 Patoshi
- 🔴 Miners labelled by Glassnode
- 🟡 Unlabelled 'Other' miners
A value of 0.9 indicates that the associated miner cohort accounts for 90% of all the hashpower on the Bitcoin network.
Technical. The relative share of block-reward revenue, as a proportion of the total, is used as a proxy estimate for hashrate attributed to each miner cohort. Where a cohort of miners win 30% of the block reward, it provides a reasonable estimate that they host 30% of the network hashrate. Each trace divides the cohort's mined block-reward volume by the total mined volume:
Labelled Miner Coverage = (Total - Patoshi - Other) / Total🔴Patoshi Hashrate Dominance = Patoshi / Total🔵Other Miner Hashrate Dominance = Other / Total🟡
Interpretation. This chart is primarily a data-coverage and attribution view: it shows how much of Bitcoin's hashpower Glassnode's miner labelling captures, and how that coverage has evolved. The Patoshi share is only meaningful in the network's earliest years, decaying toward zero as the network industrialized. A rising labelled share improves the reliability of miner-cohort metrics (balances, flows, net position change), while the unlabelled 'Other' share quantifies the residual uncertainty in any labelled-miner analysis. It is therefore a useful companion when judging how much weight to place on labelled miner balance charts.
Notes. Built from Miner Revenue (Block Rewards) filtered per miner cohort. Used to contextualize Miner Balance (Minus Patoshi and Other) and Miner Percent Mined Supply Spent.