Wild stat. 75% of Bitcoin mining now occurs in USA, per CBECI latest report. Just 4 years ago, 50% was in China. What a incredible competitive loss. Bitcoin is officially now "Made in America". Miner electricity cost was reconfirmed at 45/MWh, a figure we have been using in Capriole's Bitcoin Production Cost for years. Electricity confirmed to represent approx. 80% of total Bitcoin mining costs. Bitcoin Production Cost is one of the highest value indicators for sniping incredible Bitcoin buying opportunities, so it's great to have these critical data points re-validated and accurate for 2025. Great research by @alexneumueller! Full report: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5236060