My last suspicion about two of the top Bitcoin miners redeploying their hardware to AI on the cusp of a "Bitcoin Strategic Bitcoin Reserve"...

The Bitcoin hashrate fell 7.6% last month which indicates that miners reduced their mining activity, maybe from weariness of losing money.

Review for new readers... Bitcoin miners have been losing money since last April and are collectively losing at least $2.5 billion annually, regardless of "positive analyst estimates". I developed this simple holistic calculation in 2022 which has been surprisingly accurate.
Current calculation:
annual income: $85k/coin x 165k coins = $14 billion
energy cost: 172 terawatts x $0.105 / kwatt = $18 billion
net miner loss: $4 billion
For the newly-minted supporters of Bitcoin reserves...

The real key to preserving your State pension fund is to take control of your own money.

Comments