Bitcoin Below $100K: What Happened and Why?

Bitcoin Below $100K? MARA's Wild Ride Proves Crypto's Still a Clown Show

Another Crypto Crash? Color Me Shocked.

Okay, so Bitcoin dipped below $100,000. Again. Anyone surprised? Give me a freakin' break. It's like these crypto bros want to relive 2022 every few years. And of course, MARA Holdings is right there in the thick of it, because why wouldn't they be?

MARA posts record earnings, blah, blah, blah. They're swimming in Bitcoin, worth billions, apparently. Whoop-dee-doo. But let's be real, it's all Monopoly money until you cash it out, and even then, you're just converting one form of imaginary wealth into another. MARA posts record $123 million profit by pairing bitcoin operations with new power and AI assets

And this whole thing with MARA trying to block that town from becoming a city? Classic. "We believe municipal incorporation should serve the genuine needs of communities, not be used to target or weaponize the process against law-abiding businesses,” their spokesperson said. Oh, really? Because that's exactly what MARA is trying to do by suing them in the first place!

From Bitcoin Mining to AI: Desperation Move?

Now they're jumping on the AI bandwagon, too? Partnering with some energy company to build power plants and data centers. Sure, why not? Gotta find some way to justify all that electricity they're sucking up.

“We're co-locating and cooperating Bitcoin and AI on the same site using similar infrastructure doesn't need water cooling, it's air cooled and we..." the CEO says. Right. So, they're just throwing buzzwords at the wall and hoping something sticks. "Digital infrastructure," "AI-computing workloads"... sounds impressive, right? Except it's probably just a bunch of GPUs overheating in a Texas warehouse.

I mean, let's be real: these crypto miners are basically digital gold rushers, desperately searching for the next big score. First it was Bitcoin, then Ethereum, then NFTs, and now it's AI. It's like watching a bunch of squirrels chasing shiny objects.

And the audacity of these guys! Suing a small town because they don't want to listen to the constant noise pollution from their Bitcoin mine? Cheryl Shadden, who lives across the street from the mine, said she doesn’t know how the election is going to go. “We've tried everything else to try to help this area,” Shadden said. “I'm praying to God, praying to God that there'll be some relief and you know we just want to sleep in our beds in peace at night.” Honestly, it's enough to make you sick.

The Irony Is Delicious...But Still Depressing

The best part? The judge basically told MARA to pound sand. "[E]ven if incorporation succeeds—and it may not—Plaintiffs can still challenge the validity of the election and the creation of ‘Mitchell Bend’ after the results are certified,” Judge O’Connor wrote in the ruling. Translation: "Go ahead and waste your money, guys. I dare you."

So, what's the takeaway here? Bitcoin's still volatile, MARA's still greedy, and small towns are still getting screwed over by big corporations. Some things never change.

Offcourse, the MARA spokesperson had to get in one last spin cycle: "It's important to recognize that the court did not rule on the merit of the underlying evidence, rather clarify that any challenge must come after the election," said a spokesperson for MARA. "We intend to vigorously defend against any attempt to weaponize local government against law-abiding businesses." AHAHAHAHA!

A Giant Waste of Time and Energy

I'm starting to think the whole crypto thing was a bad dream. Or maybe I'm the one who's lost it? Nah. It's a circus, and MARA's just one of the clowns.