Bitcoin is stuck between 110 and 112 and it's boring again
109.8k
New high
Maybe Elizabeth Warren is right
Yes, coal continues to be used in Bitcoin mining, though its prevalence varies by region and is subject to ongoing debate.
Active Use of Coal in Bitcoin Mining
United States: In Pennsylvania, companies like Stronghold Digital Mining operate facilities that burn waste coal to power Bitcoin mining operations. While they argue this process helps remediate environmental damage from legacy coal waste, it still results in significant COโ emissions .
Montana: The Hardin Generating Station, a coal-fired power plant, was slated for closure but remained operational after Marathon Digital Holdings partnered with it for Bitcoin mining. This collaboration led to a substantial increase in the plant's COโ emissions .
Kentucky and Indiana: Bitcoin mining has been linked to the continued operation of coal plants in these states. For instance, Blockware Solutions entered a long-term agreement with coal-fired plants in Kentucky, contributing to millions of tons of COโ emissions annually .
Global Perspective
A United Nations study reported that, during 2020โ2021, coal accounted for approximately 45% of the energy used in Bitcoin mining globally. This reliance on coal contributes significantly to the carbon footprint of cryptocurrency mining .
Transition to Renewables
Despite these instances, there is a notable shift towards renewable energy in the Bitcoin mining industry. Recent data suggests that over 50% of Bitcoin's mining network now uses renewable energy sources such as hydroelectric, wind, and solar power .
In summary, while coal remains a source of energy for some Bitcoin mining operations, particularly in areas with existing coal infrastructure, the industry is gradually moving towards more sustainable energy sources.
Magic wood that is stronger than steel
Fabulous fabulosity
Somebody needs to get out there and sell a bunch so it'll crash and I can get more
I don't know but I wish they would sell more & crash it cuz I need to buy more
Anything is possible but to me this seems very unlikely
I do see a decline in volatility since about 2022 early
Therefore I think the MV RV going up to a very high number is a low probability this time
Every time the reward for mining drops in half the importance of mining drops in half and so the four-year cycle becomes less of a thing and it is already very much not much of a thing
But you can see from the numbers that institutions are buying and individuals are selling
When the individuals stop selling, the long-term holders, who aren't holding, then it's going to shoot up to 150 pretty quickly
What you see in the graphs is that it went up to the 40s stay there for a few months went up to the '70s stayed there for 8 months went up to the hundreds essentially stayed there for so far 7 months.
Within a month or so it's probably going to go up to 150 and then stay there for 8 months
Rule one. Avoid crazy things like Bitcoin
Rule two. Wait until your ready to have kids
Rule three. Climb the corporate ladder
Me in 87
Julie and Amanda at John's birthday party
Up the nostril hairy arm shot
My buddy Dave
If you're worried about having kids I recommend you watch the movie Parenthood with Steve Martin in it because it will brighten you and also alleviate your fears
Perfect Austin weather
Hereโs the updated side-by-side BTC cycle chart, now including power law dynamics, doubling time, and how highs/lows fit into long-term price modeling:
Feature 2020โ2021 Cycle 2022โ2025 Cycle
Cycle Start March 2020 (~$4K) November 2022 (~$15.5K)
Peak Price November 2021 (~$69K) March 2025 (~$109K, current high)
Duration to Peak ~20 months ~29 months (so far)
Total Gain from Bottom ~17x ~7x
Halving Date May 2020 April 2024
Structure Double top (April & Nov 2021) Single clean breakout (so far)
Top Characteristics High retail euphoria ETF-driven, institutional strength
Volume Profile High volatility, retail-driven More consistent, less frothy
Consolidation Behavior Choppy, blow-off tops Rounded tops, stair-step advances
Support Zones Weak after $69K crash $69K now a confirmed strong support
Momentum (TSI/RSI) Overshot with bearish divergence Moderate, rolling off highs
Macro Conditions Post-COVID stimulus, low rates Inflation drag, potential rate cuts
Adoption Events Tesla buys BTC, El Salvador Spot BTC ETFs, sovereign funds interest
Power Law Fit Overshot power law band at top Tracking well within upper band
Log Price Channel Topped above upper channel (~$69K) Near or slightly above midline (~$109K)
Doubling Pattern ~3โ6 months per double in late 2020 ~8โ10 months per double post-2023
Relative to Power Law Floor $4K vs $270) $15.5K vs $2.2K est.)
Implication Exuberant top = long mean reversion Controlled rise = higher sustainable base
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Power Law Context:
Bitcoin follows a power law growth curve, with log(price) ~ log(time)^ฮฑ.
2020โ21 cycle spiked above the power law upper bound โ unsustainable.
2022โ25 cycle is riding closer to the band, suggesting maturing adoption and slower exponential growth.
Doubling slowdown is expected as Bitcoin becomes more liquid, institutional, and widely held.
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Let me know if you'd like this in CSV, or visualized on a power law chart with the original Woobull-style bands.