Recently, a viewpoint has been gaining considerable attention in the market. According to an analysis team from a leading exchange, if U.S. companies truly begin large-scale development of Venezuela's oil resources, it could fundamentally change the global energy supply landscape in the medium to long term. It may sound far from the crypto world, but for miners, this is definitely not something to be taken lightly.

Why? Simply put, electricity costs directly determine the survival of mining operations. A decrease in energy prices means a significant optimization of the cost structure for mining. Cheaper, more stable power supplies could open up profit margins for mining farms that can lock in long-term low-cost electricity contracts.

Imagine what would happen when the average cost of mining across the network drops significantly. First, many small mining farms that previously couldn't operate due to electricity cost pressures might become active again. Second, profit margins for top mining companies would see a substantial increase, typically triggering a new wave of hash rate expansion. Historically, every significant decline in energy costs has been accompanied by a boom in the mining industry.

Of course, there are many variables involved. Policies, international relations, technological advancements—any of these factors could disrupt this expectation. Moreover, the path from policy implementation to actual energy cost reduction is still long.

Interestingly, if this logic proves true, could the bull market be fueled further by such expectations? After all, the prosperity of the mining industry often serves as a market sentiment indicator. What do you think—could a potential decrease in energy costs really trigger a major transformation in the mining ecosystem?