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Olivia Rose
Bitcoin's deepest hash rate drawdown since 2021 was not a mining collapse — it was a pivot. Miners sent $24B of the $27B they raised into AI and HPC, and sold more than twice the BTC they mined in H1. The network got quieter while the companies running it got bigger elsewhere. Hash rate follows incentives; right now, the incentives point at AI, not at new rigs. $BTC #Bitcoin #FedHawkishChorus
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