21MERIDIAN 2140
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Hash Ribbons

A moving-average model of hashrate intended to identify periods of miner stress and recovery.

A moving-average model of hashrate intended to identify periods of miner stress and recovery.

A moving-average model of hashrate intended to identify periods of miner stress and recovery. This coordinate is placed in the wider system through its protocol, economic and historical relationships.

Understanding Hash Ribbons helps distinguish a verifiable Bitcoin mechanism or historical record from slogans, products and market narratives.

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Linked to related atlas coordinates

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Grounded in a source record

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Explains function and trade-offs

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Part of the open Bitcoin knowledge graph

DOC · 001Glassnode — Metrics CatalogDocumentation
Reviewed 25 July 2026Source-first · No investment advice