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Cryptocurrency Mining Index (CMI)

QFRG and LabyrintHF would like to present Cryptocurrency Mining Index (CMI) – daily updated index, reflecting the situation in the cryptocurrency mining industry. You can find CMI with detailed description of methodology and information about considered companies below.

LabyrinthHF.com

Authors: QFRG WNE UW and Labyrinth HF project

Date of publication: 2018-09-24

Last update: 2019-04-08 14:14:58 UTC

Figure.1. Cryptocurrency Mining Index (CMI) – 2019-04-08: 0.0575489

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Table.1. Performance Statistics for CMI and BTCUSD

CMI BTCUSD
last observation 0.0575 5205.6802
last week return 8.44% 5.41%
last month return 1.26% 31.86%
last quarter return -1.14% 28.83%
return from 2018-01-01 -96.16% -64.72%
returns standard deviation from 2018-01-01 111.49% 78.27%
maximum drawdown 98.82% 83.29%

Methodology

Cryptocurrency Mining Index (CMI) is an equally weighted index consisting of publicly listed companies and ICOs quoted on cryptocurrency exchanges. It covers companies which declared that they will focus mainly on mining activity. CMI returns are calculated based on the formula which attaches the same weight to every return.Rebalancing is done every day.

Description of data

Our data covers the period between 2017-11-01 and 2019-04-08. The starting point is defined as the date when minimum 2 time series are available for calculations purposes. Then each new time series is added when data are available.All prices are converted to USD, e.g. from GBP or CAD. Data sources:

Description of considered companies

We have selected all companies with at least 1 month of price data. The starting date for each company and its return since the date of inception is summarized in the table below. Additionally the description of each company based exactly on the note from original source is given below:

  • RMC – The Russian Mining Coin (RMC) is a digital asset which gives the owner the right to acquire a new generation MultiClet miner based on a processor with multicellular architecture or the right to acquire a Sunrise miner at a special price. The owner of the coin also has the right to participate in the RMC Joint Mining Club.

    Data source: https://rmc.one/static/pdf/whitepaper_EN.pdf
  • HSSHF – HashChain Technology Inc. operates as a blockchain technology company. It engages in the cryptocurrency mining activities. It also provides NODE40 Balance, a SaaS product that allows cryptocurrency users and traders to accurately report their capital gains and losses, as well as DASH masternode server-hosting services. The company was formerly known as Chortle Capital Corp. and changed its name to HashChain Technology Inc. in September 2017. HashChain Technology Inc. was incorporated in 2017 and is based in Vancouver, Canada.
    Data source: https://finance.yahoo.com/quote/HSSHF/profile?p=HSSHF and http://www.hashchain.ca/
  • HVBTF – HIVE Blockchain Technologies Ltd. operates as a cryptocurrency mining firm. It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash. The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017. HIVE Blockchain Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.
    Data source: https://finance.yahoo.com/quote/HVBTF/profile?p=HVBTF and https://www.hiveblockchain.com/
  • SMS – Speed Mining Service project is the most advanced diversified virtual currency mining operation with the offering of profit distribution up to 34% from the global revenue. They are the main supporter to list their token into a cryptocurrency exchange supported by their alliance. Therefore, an investor will have two benefits in both trading and the profit distribution together. Their vision is to construct Asia’s most advanced diversified and large-scale virtual currency mining operation. In order to achieve that goal, they will be holding an initial crypto offering with the goal of financing the project.

    Data source: https://www.coinist.io/speed-mining-service/
  • ENV – Envion introduces mobile mining for cryptocurrencies, the future of smart decentralized blockchain infrastructure. It was supposed to be a highly profitable company with global crypto-mining-infrastructure hosted in mobile, modular CSC containers. Envion claimed to have created the fleet of totally mobile containers that you can move to the energy source, right to the source wherever the energy is cheap.

    Data source: https://www.envion.org/en/
  • DMGGF – DMG Blockchain Solutions Inc. operates as a blockchain and cryptocurrency company that manages, operates, and develops digital solutions to monetize the blockchain ecosystem. The company was incorporated in 2016 and is headquartered in Vancouver, Canada.
    Data source: https://finance.yahoo.com/quote/DMGGF/profile?p=DMGGF and https://dmgblockchain.com/press/
  • ROCK2 – Ice Rock Mining plans to bring bitcoin mining to the investment world. They believe bitcoin has a long and significant role in the new monetary system that is forming. Their goal is to raise capital and scale the mining business. They are currently in operation and already delivering returns to investors. With Ice Rock, investors become partners and share in the realization of profits, while assuring themselves a stable and passive income. Because of IRM's efficiencies, the company is able to operate at lower costs and thereby pass those savings on to investors. With today’s hashrates, ROI to investors is over 200% per year and could increase if the price of bitcoin appreciates.

    Data source: https://icerockmining.io/en.html
  • ARB.L – Argo Blockchain PLC, through its subsidiary, Argo Blockchain Canada Holdings Inc., intends to operate a Mining as a Service business that primarily focuses on the cryptocurrency market in the United Kingdom. The company was formerly known as GoSun Blockchain Limited and changed its name to Argo Blockchain PLC in December 2017. The company was founded in 2017 and is based in London, the United Kingdom.
    Data source: https://finance.yahoo.com/quote/ARB.L/profile?p=ARB.L and https://www.argomining.co/

Figure.2. Quotes of considered mining companies

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Figure 3. Normalized quotes of considered mining companies (normalized by the initial value)

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Table.2. Starting date of quoted companies

Symbol Quoted since Return [%]
ARB.L 2018-08-06 -74.85
ROCK2 2018-08-06 -25.03
DMGGF 2018-02-15 -88.13
ENV 2018-02-14 -93.13
SMS 2018-01-29 -98.63
HSSHF 2017-12-19 -97.55
HVBTF 2017-11-01 -88.67
RMC 2017-11-01 -92.17