Certain exchange: US intervention in Venezuelan oil may ease energy cost pressures, benefiting bitcoin mining profits

According to Odaily, an analyst from a certain exchange stated that if American companies enter Venezuela to develop its vast crude oil reserves, it could suppress energy prices in the medium to long term, thereby improving the profitability of bitcoin miners. The analysis pointed out that cheaper and more abundant energy supplies are expected to boost miners' profit margins and may drive a new round of mining expansion, especially in regions where long-term electricity contracts can be secured.

The exchange believes that even utilizing only a small portion of Venezuela's 303 billion barrels of crude oil reserves could have a substantial impact on the energy market, providing relief for miners currently under pressure from bitcoin price corrections, increased mining difficulty, and rising electricity costs. However, the analysis also noted that a substantial recovery of Venezuela's oil production capacity will still require many years, with progress depending on political transition and sanction policy arrangements. Overall, changes in energy remain a secondary factor for the crypto market, with price trends more likely to be driven by macro risk appetite and cross-asset allocation. (Cointelegraph)