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Checked the situation on the miner side.
Hash rate has dropped 25%. Puell Multiple is 0.74.
If it drops further, they'll really shut down.
But there's something quite interesting. Miners are selling coins to recover funds while signing AI computing power contracts worth $70 billion.
They used to be called mining farms, now they're called data centers.
These folks think further ahead than most traders.
I respect that.