I think it's incredibly bullish to watch what miners do. There's only 6.4% of supply left to mine and they are investing MILLIONS into massive facilities and it's just getting started.

For reference, 200MW is like 4x the power consumption of my entire city. For one mining facility!

https://bitbo.news/marathon-mining-facility-purchase/

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Mining does more than simply bring new supply so, yes, these investments suggest that miners believe fees will be profitable enough to sustain the industry and thus Bitcoin itself. Beautiful to see market forces working unfettered.