Firsthand Bitcoin · Data · Bitcoin miners
Data / Puell multiple / 2021
The dollar value of new bitcoin issued each day against its one-year average.
Puell multiple opened 2021 at 2.13× (January 1, 2021) and closed at 1.00× (December 31, 2021), down 53.1%. The high was 3.31× on February 21, 2021 and the low 1.00× on December 20, 2021.
| Month | Month end |
|---|---|
| January 2021 | 2.10× |
| February 2021 | 2.65× |
| March 2021 | 2.73× |
| April 2021 | 2.19× |
| May 2021 | 1.37× |
| June 2021 | 1.16× |
| July 2021 | 1.33× |
| August 2021 | 1.38× |
| September 2021 | 1.16× |
| October 2021 | 1.48× |
| November 2021 | 1.28× |
| December 2021 | 1.00× |
Daily issuance in dollars divided by its 365-day average. Under 0.5, miners are earning half their usual income and the weakest are selling to survive, which has marked cycle bottoms; above 4, issuance is worth four times normal and miners are selling into euphoria.
Other years: 2026 · 2025 · 2024 · 2023 · 2022 · 2020 · 2019 · 2018 · 2017 · 2016 · 2015 · 2014 · 2013
Also in 2021: Bitcoin price · Distance from the all-time high · 200-day and 200-week averages · Network hashrate · Mining difficulty · Difficulty adjustments · Fees paid to miners · Transactions per day · Hashprice · Miner revenue · Bitmain releases and the bitcoin price · Break-even electricity price