The Energy Trade: How Bitcoin Miners Exploit Geography, Grid Economics, and the World's Most Embarrassing Energy Waste
The narrative around Bitcoin's energy use is broken. It's not about consumption—it's about geographic arbitrage, stranded resources, and why the world's most efficient energy buyers are moving into your neighbor's industrial park. Here's what the environmentalists get wrong, what the Bitcoiners get right, and what it means for your positions.
