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Puell Multiple

Compares miner revenue to its historical average.

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Mining

Recent Puell Multiple trend

0.75

Updated Jul 22, 2026

What is Puell Multiple?

Puell Multiple tracks miner revenue pressure by comparing daily issuance value against longer-term norms.

How to read it

Low readings can imply miner stress. High readings can imply unusually strong miner revenue conditions.

Recent data

NoDateValue
1Jul 22, 20260.75
2Jul 21, 20260.75
3Jul 20, 20260.72
4Jul 19, 20260.73
5Jul 18, 20260.72
6Jul 17, 20260.71
7Jul 16, 20260.73
8Jul 15, 20260.73
9Jul 14, 20260.7
10Jul 13, 20260.7
11Jul 12, 20260.71
12Jul 11, 20260.71
13Jul 10, 20260.71
14Jul 9, 20260.7
15Jul 8, 20260.69
16Jul 7, 20260.7
17Jul 6, 20260.7
18Jul 5, 20260.69
19Jul 4, 20260.69
20Jul 3, 20260.68
21Jul 2, 20260.66
22Jul 1, 20260.65
23Jun 30, 20260.65
24Jun 29, 20260.66
25Jun 28, 20260.66
26Jun 27, 20260.66
27Jun 26, 20260.66
28Jun 25, 20260.67
29Jun 24, 20260.68
30Jun 23, 20260.68