What an absolutely insanely good time to be a Bitcoin miner. It won’t last (?), but for now? miners are earning 2.1 Bitcoin per block in fees alone. That REALLY adds up at scale.

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That amount is more than the block reward will be just over 4 years from now.

I don't know if we've had much of a miner capitulation this cycle.

Even when we were at $16k the hash rate was still growing.

The miners have done conviction. I wonder if they know something that the traders don't?