#bitcoin #BTC #mining #market #electricity #cost The following is a translation of post on Telegram in other language. FYI One reason for the Bitcoin crash (from a peak of $126k to $90k) is the rising cost of electricity in key Bitcoin mining countries. Miners are selling off their Bitcoin holdings and repurposing their farms for AI services, which are proving to be more profitable than Bitcoin mining. Electricity accounts for 70–80% of Bitcoin mining costs. In ERCOT (Texas), the largest mining hub in the United States, average wholesale electricity prices rose by 18% year-on-year in Q3 2025. In Northern Virginia, home to both large mining operations and hyperscale cloud regions, prices jumped by 13% over the same period. In just the first two weeks of November, U.S. miners moved approximately 71,000 Bitcoin to exchanges, following another 210,000 Bitcoin transferred in October. This is one of the highest monthly figures since the 2022 bear market. Several major public miners have openly acknowledged this shift. Marathon Digital sold part of its October and November mining output to cover operational expenses, while Core Scientific and Iris Energy signed multi-year contracts to host AI applications. In September, Bitfarms announced its intention to fully exit cryptocurrency mining by 2027 and transition its entire 341-megawatt capacity portfolio to high-performance computing. This shift is financially rational: AI hosting contracts typically offer 70–80% EBITDA margins and multi-year revenue visibility, compared to the volatility of Bitcoin mining. The implications for the Bitcoin market are clear: more coins are flowing into exchanges at a time when retail and institutional demand is declining.

Bitcoin continues its strong correlation with stocks. Bear bitcoin market hits below $100k, Yet BTC pump doesn’t ever stop here.

Financelot: According to the MACD and Cycle Swing indicator, Bitcoin is now in a 12-18 month bear market. $BTC

How is life bitcoiners? You shall know, that bitcoin gets generated and is immediately sold by miners. Posts here are largely a marketing strategy for speculative asset that has no intrinsic value. It even has no wealth storage value if things start going bad.

Bitcoin correlation with stock market vs gold. https://pbs.twimg.com/media/GtaGlwtWoAEzZFE?format=png

The following quote is fromPeter Schiff. In response to Israel launching an airstrike against Iran, gold is up another $24 in early Asian trading, back above $3,410. Bitcoin, on the other hand, just tanked below $104.5K. Priced in gold, Bitcoin is now more than 15% below its Nov. 2021 peak. Bitcoin's failure to rise against gold—despite over 3.5 years of hype, including a dozen ETFs, Super Bowl ads, El Salvador, NFTs, tens of billions of leveraged buying by $MSTR, other Bitcoin treasury companies, the election of a Bitcoin president, and the establishment of a Bitcoin Strategic Reserve—is strong evidence that the bubble has peaked. A major top has been formed, as Bitcoin has been distributed from strong to weak hands. The whales have been cashing out to latecomers who will be left holding the bag.