Every time the price fluctuates, the "shutdown price" is brought up for discussion. It seems as if once the price falls below a certain number, miners will collectively turn off their machines, and the network will collapse. This article aims to discuss whether this misunderstood number is truly the miners' bottom line or merely a market filter.

While the crypto market continues to fluctuate in search of consensus, RWA is quietly approaching a critical point of industrialization. Moving from the on-chain restructuring of financial assets towards the capital connection of real production, the next step is: who will be the first to bring dormant assets into the global financial system?

From macro policies, energy structures, and AI transformation to sovereign nation participation and the financialization of mining, this article systematically outlines seven key trends in the Bitcoin mining industry for 2026. Will the industry move towards maturity or reach a new turning point in 2026?

Bitcoin spot ETFs mark their second anniversary, with assets under management surpassing $124.8 billion and trading volume growth doubling. How are they being rapidly absorbed and reshaped by the mainstream financial system?