I haven't spent time on Bitcoin for the past six months as I consider it a future Enron now. Here's a quick analysis of the coin halving:

Miner income: $63K per coin x 165K coins = $10.4 billion
Miner energy cost: 176 terawatts x 10 cents/kwatt = $17.6 billion

Miners losing $7 billion annually.

That's 50% more than they lost in 2022 when half went bankrupt but Blackrock bought out many and prevented a systemic collapse. In April of 2023, it consumed 140 terawatts and one year later, 176 terawatts, a 25% increase. uhhuh.gif

Oh, well.