Cycle Veteran

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[Cycle Veteran @TheCycleVeteran]

@cryptosymbiiote I like that idea!

Good RR on a trade like this.

If this is a bull market you wouldn't let the sideliners in at 60k again...

So a good enough Invalidation.

Let's send it in this BULL MARKET!🚀💲

[Cycle Veteran @TheCycleVeteran]

$BTC

🚨🚨Two of the biggest public Bitcoin miners plan to be almost completely out of mining by December 31‼️

And yet mining difficulty, which rises as more machines compete for blocks, is at a record high.

So who's taking their place?
👉 And what does it mean for your $BTC❓️

Meet the two:
IREN and Core Scientific.

Both are turning their sites into data centers they rent to AI customers like Microsoft, Nvidia, CoreWeave and AMD.

IREN says it will "substantially complete" the switch by December 31. ♻️
In 2027, only "immaterial" mining is left.

Its mining revenue per quarter?

Last year it was $233M

Last quarter, it was $28M🪫

Meanwhile, its AI cloud business brought in $200M in that same quarter.🔋

Core Scientific is even further along. Mining is now just 7.5% of its revenue.

Its finance chief expects to finish the wind-down this quarter and start 2027 as a pure data center landlord.🏬🏬🏬

Last December, Core reportedly planned to quit mining 🚫 by 2028, per the WSJ.

Now it's leaving about two years earlier...

Its bitcoin is mostly gone too. At the end of September, it held just $2.7M in digital assets.

➡️ So why would miners walk away from bitcoin❓️

Because AI pays far more for the same electricity💡

Mining earns about $151 per megawatt-hour at best.

Renting that same power to AI customers earns at least 💲1,600!

And miners already own what AI needs. As IREN's co-CEO put it: "We own the land, the power and the data centers under all of it.

My verdict: this is NEW. For the first time, mining power is leaving for a different industry at scale.

But it's NOT a crash signal for $BTC🚫

♻️✅️The coins still get mined, and the network adjusts.

I'm not touching my $BTC over this!🫴💎

#Krypto #BTC

[Cycle Veteran @TheCycleVeteran]

@Crypto_Moe84 I've said this before and I'll say it again!

BTC below 100k is CHEAP!

Go buy some.

Put it on a cold-wallet.

Then forget.

Your future self, your future children and grandchildren will thank you for it!

[Cycle Veteran @TheCycleVeteran]

@cryptogoos Or the bigger the Long Squeeze...

[Cycle Veteran @TheCycleVeteran]

@Shieldmetax Alright I'm buying.

[Cycle Veteran @TheCycleVeteran]

@QC_Capital_ Since everyone is expecting it to dump hard, I honestly expect the reaction to be muted...

Eyes out for Tuesday's CPI print tho, since it could seal the deal for a december rate hike👀

[Cycle Veteran @TheCycleVeteran]

@TedPillows Brutally good buying opportunity...

All a matter of perspective;)

[Cycle Veteran @TheCycleVeteran]

@KillaXBT Imagine shorting BTC here...

Pump it up🚀

[Cycle Veteran @TheCycleVeteran]

@cryptogoos That might be a bit optimistic but I'm sure we're gonna see these prices in the next years!

[Cycle Veteran @TheCycleVeteran]

@Jeremybtc If you are here now and buying you're good😜

[Cycle Veteran @TheCycleVeteran]

@cryptogoos We went sideways for so long...time for some action at Market Open!

[Cycle Veteran @TheCycleVeteran]

@Wealthmanager Send it!!🚀💸

[Cycle Veteran @TheCycleVeteran]

@inmortalcrypto Sometimes keeping it simple is best🤝

[Cycle Veteran @TheCycleVeteran]

@cryptogoos That's literally all it takes🚀

[Cycle Veteran @TheCycleVeteran]

@GodsBurnt Everythings gonna be alright.

The world is not going to end and we're all gonna print💸🚀!

[Cycle Veteran @TheCycleVeteran]

@cryptogoos

[Cycle Veteran @TheCycleVeteran]

@evcawolfCZ Lol. The fear is crazy today...

Short Squeeze soon imo🚀💸...

[Cycle Veteran @TheCycleVeteran]

@LIsabella_o You just can't unsee it...

[Cycle Veteran @TheCycleVeteran]

@olivercharts Idk mate...if bottom is truly in why give all the sideliners the chance to enter down at cheaper prices again...

I'd say let's pump it or dump it hard no in between🚀

[Cycle Veteran @TheCycleVeteran]

@HoudiniCapital People suddenly flipping short after a 15% correction in a bull market...

Love to see it🤭🚀🚀