BackPoW Proof of Profit Index
The BackPoW PoP Index is one number for the health of the whole Proof of Work mining market, from 0 to 100: from Capitulation, when most of the market is mined at a loss, to Gold Rush, when mining is broadly profitable. Updated every day.
Today the BackPoW PoP Index stands at 35/100: SUFFERING (as of 2026-11-07). Margins are thin or negative for a large share of the PoW market.
Top drivers today, the coins that weigh most on the index:
- Bitcoin (BTC): SUFFERING
- Pearl (PRL): GOLD RUSH
- Dogecoin (DOGE): CAPITULATION
- Zcash (ZEC): GOLD RUSH
- Monero (XMR): GOLD RUSH
What the four zones mean
- 0–25 CAPITULATION — Most of the PoW market is mined at a loss. Miners power down or sell below cost.
- 25–50 SUFFERING — Margins are thin or negative for a large share of the PoW market.
- 50–75 RECOVERY — Most of the PoW market is profitable again, while weaker networks stay underwater.
- 75–100 GOLD RUSH — Mining is broadly profitable. Expect hashrate and difficulty to climb.
Frequently asked questions
What is the BackPoW Proof of Profit Index (PoP Index)?
The Proof of Profit Index, or PoP Index, is BackPoW's daily reading of how profitable it is to mine Proof of Work coins, on a scale from 0 to 100, across the whole PoW market rather than Bitcoin alone. Near 0, most of the market is mined at a loss (Capitulation); near 100, mining is broadly profitable (Gold Rush).
How often is the PoP Index updated?
Every day, with BackPoW's daily data refresh. The date under the gauge is the day of the current reading.
Which coins move the PoP Index?
The top drivers listed under the gauge are the coins that weigh most on the index that day. Each one is shown with its own zone, so you can see which networks are pulling the reading up or down.
Is the PoP Index a Fear & Greed index for mining?
It plays the same role for miners: one number that sums up the state of the market. A Fear & Greed index reads trader sentiment; the PoP Index reads mining profitability, from network and market data.
How is the PoP Index calculated?
It is built on the same data as the rest of BackPoW: live network difficulty, block rewards, market prices and each coin's Cost of Production at $0.069/kWh. The exact method is proprietary.
Is the PoP Index financial advice?
No. It describes mining conditions across Proof of Work networks; it is not a signal to buy, sell or mine any coin.
Coins mined at a loss today
For the coin-by-coin view, the Proof of Work Suffering Index ranks every tracked coin by Cost of Production against its spot price.