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raonbit
2021.01.16 10:14:02
Aggregate security spend, or "Thermocap", is the aggregated amount of coins paid to miners and serves as a proxy to mining resources spent.
It serves as a measure of the true capital flow into the network and is computed as the aggregate coinbase transactions multiplied by the price in USD at the time they were mined.
This metric was first put forth by Nic Carter.
(https://studio.glassnode.com/metrics?a=BTC&category=Fees&m=mining.Thermocap)
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