Meh, there are a lot of moon boi miners. I would hesitate to say this is any kind of leading indicator.
Discussion
That’s not moon boi miners that ripped out of the China ban downturn, that’s massive global nation state build out of energy infrastructure.
Not really, but that’s fine. Those guys are out there, but in relatively small tranches. That said, network hashrate is a lagging indicator of price. Not the other way around.