Thermocap

Description

Thermocap is a metric that tracks the total value of coins paid to miners, offering a clear view of how much a blockchain network spends on its own security. By multiplying all historical coinbase rewards by their USD value at the time they were mined, thermocap reflects the real capital that has flowed into sustaining mining operations. Because miners are responsible for maintaining and securing the network, this aggregated spend effectively represents the network’s total security budget.

Thermocap Metrics:

• thermocap - Total historical value of all mining rewards paid to miners
• mctc - The ratio comparing a network’s market capitalization to its thermocap

Access

Free Access

Measuring Unit

• thermocap - Amount in USD
• mctc - Ratio

Data Type

Timeseries Data

Frequency

Daily Intervals

Latency

Price Latency

Available Assets

Available for bitcoin

SanAPI

Available under names: thermocap

1
2
3
4
5
6
7
8
9
{
  getMetric(metric: "thermocap"){
    timeseriesDataJson(
      slug: "bitcoin"
      from: "2025-11-01T00:00:00Z"
      to: "2025-11-10T00:00:00Z"
      interval: "1d")
  }
}

Run in explorer

Available under name: mctc

1
2
3
4
5
6
7
8
9
{
  getMetric(metric: "mctc"){
    timeseriesDataJson(
      slug: "bitcoin"
      from: "2025-11-01T00:00:00Z"
      to: "2025-11-10T00:00:00Z"
      interval: "1d")
  }
}

Run in explorer