An interesting insight about #Bitcoin; did you know hashrate has been at a new ATH at every halving?
The only way this can happen is when:
- More ASICs are spun up
- Newer models are spun up
Both tell us CAPEX was invested, and thus miners have sufficient revenue for expansion 

Twitter

Bitcoin's price briefly touched $60,000 last week. Under a diminishing returns model, this is no mere noise. The market is touching the weakest link in the entire four-year cycle and logarithmic growth framework.

With the gains at the top of the Bitcoin cycle already significantly compressed, a further historically deep correction would completely negate the allure of its classic cycles.

This is not a prediction; it's a mathematical law.

Cycle Top Gains are Compressing

Historical Bitcoin Cycle Tops:

· 2013: ~$1,242

· 2017: ~$19,700

· 2021: ~...

$55,000 will be the lifeline for Bitcoin.

The crypto market experienced a sharp drop this afternoon, with Ethereum falling below the $2,000 mark at 3 PM Taiwan time, according to Hyperliquid [...]
The article, titled "Machi Big Brother Suffers Huge Losses and Didn't Sleep All Night? Ethereum Falls Below 2000 Magnesium, Panic Arrives, Opens Long BlockTempo and Loses 120,000 Magnesium," was originally published on BlockTempo, the most influential blockchain ABMedia media.

Machi Big Brother lost so much money he couldn't sleep all night? Ethereum fell below 2000, causing panic. He long positions in ETH and HYPE, then sold at a loss, losing all 120,000 in magnesium.

$XRP and $RLUSD holders could soon access U.S. Treasury-backed yields directly on XRPL. Doppler Finance and OpenEden said today they will integrate tokenized Treasury Bill products into Doppler’s XRPL...

XRP and RLUSD Holders to Access Treasury Yields as Institutional-Grade Products Expand on XRPL

If the #Bitcoin security budget was truly stressing the mining industry out, hashrate would plateau and the budget would only cover OPEX for existing rigs.
The factual investment of CAPEX means there is a surplus, and the strong miners continue to invest in expansion and R&amp;D.

As a final note, each miner also has a balance sheet cost. Some balance sheets are stronger than others.
Whilst the mining industry in aggregate is up only, internally there can be significant churn.
Weak miners go broke, and fire sale their operations, to new lower cost miners