While digging through the API of the cgminer I noticed that there is a value which I could not figure out what it means: the utility.
What does it stand for, what are common values and how is it calculated?
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The Utility defined as the number of shares / minute
Its the number of shares your miner is contributing per minute. If you're looking at the overall Utility values, its the combined number of shares all miners are contributing per minute.