Michael Saylor on trading Bitcoin: “Trading Bitcoin is, in my opinion, a sign of lesser intellect.” “It’s like picking up pennies on a railroad track. You might get a few quarters… then get hit by a train.”

Strategy books an $8.3B Bitcoin markdown in its first post-never-sell quarter @Strategy reported a Q2 loss on digital assets of $8.32B, nearly all unrealized fair-value marks, with its 843,775 $BTC carried at $49.67B, well below a ~$75.5K average cost basis with Bitcoin trading near $64K. The quarter marks the formal end of the never-sell era: the firm sold 3,588 BTC as part of its new capital management framework and built a $3.75B dollar reserve covering roughly two years of preferred dividends, betting it can defend the balance sheet without breaking the treasury thesis.

Malaysia lost $1.1 BILLION worth of electricity to illegal Bitcoin miners The miners wire themselves straight into the grid or rig the meters so the power they burn never shows up on a bill Around 14,000 illegal mining sites were caught doing it, together stealing enough electricity to run 560,000 homes for a year The operations hide in abandoned houses, rented warehouses, even an unfinished shopping mall, sealed behind heat shields and soundproofing Some play looping recordings of bird sounds to cover the fan noise and neighbors calling about the strange birds is how police keep finding them Malaysia now hunts them with thermal drones scanning rooftops for heat, while software checks millions of power meters a day looking for electricity that never turns off More than 75,000 rigs were seized in over 3,000 raids since 2022, with 629 arrests and police have even crushed the confiscated machines with steamrollers The rigs keep coming back because the math behind them is absurd Mining one Bitcoin at household electricity rates costs about $1,320 in Iran, around $102,000 in the US and up to $321,000 in Ireland With Bitcoin trading near $62,000, mining at home in most of the West means losing money on every coin Stolen power drops the cost to zero and turns every coin into pure profit The most profitable mining farm on earth is the one that never gets a bill

LATEST: 📊 K33 says "long-term holders are hodling" at record levels, with Bitcoin trading activity at yearly lows and reluctant sellers pointing to a market bottom taking shape.