Interesting to observe: While Bitcoin has just fallen by nearly 17%, the stocks of mining companies are booming. TeraWulf has surged by 31%, Cipher Mining by 8%, Hut 8 by 6%. That’s actually counterintuitive, isn’t it?

The reason seems clear. These companies were heavily shorted by hedge funds and could now experience a short squeeze if the fundamentals stabilize again. Especially interesting: many of these BTC mining operators have secured long-term, extremely cheap power contracts. That gives them a huge cost advantage over the competition.

This naturally attracts capital. Investors see the "structural winners" in the mining sector here and are pumping money in. The question is: Can traditional miners with higher energy costs still keep up? It doesn’t look like it. The market is currently reorganizing.