Pure BTC mining stopped being alpha. Post-halving, companies without revenue beyond hashprice drifted sideways or bled out 40--70%, while the green names were the ones selling AI compute, hosting, or fixed-demand capacity. BTC beta isn't a strategy anymore.
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Pure BTC mining stopped being alpha. Post-halving, companies without revenue beyond hashprice drifted sideways or bled out 40--70%, while the green names were the ones selling AI compute, hosting, or fixed-demand capacity. BTC beta isn't a strategy anymore.