Bitcoin Miners Have Fully Priced in a New Bitcoin Bull Cycle

Marathon Digital (MARA) closed yesterday at its #1 most overvalued enterprise value in history relative to Bitcoin prices.

Bitcoin Miners have fully priced in a new bull cycle for Bitcoin that will never happen.

By this time next year, MARA will be turning off their machines because they won't be able to afford the electricity to mine Bitcoin after the next halving event!