After the halving, the miners
Hashrate did not blink. Margins did. The next year is an energy story.
By Aston Kennedy · 5 min read
Section
Bitcoin
3 stories on the desk.
Corporate treasuries and a volatile reserve
A line on the balance sheet is not a strategy until the board can explain a drawdown.
By Aston Kennedy · 4 min read
The power contract is the mine
The cheapest electron wins. Miners are signing utility deals the way airlines used to buy fuel.
By Aston Kennedy · 5 min read
