Bitfinex: US intervention in Venezuela's oil may ease energy cost pressures, benefiting Bitcoin mining profits

Bitfinex analysts indicate that if American companies enter Venezuela to develop its vast oil reserves, it could lower energy prices in the medium to long term, thereby improving the profitability of Bitcoin miners.

The analysis points out that cheaper and more abundant energy supplies are expected to enhance miners' profit margins and may drive a new round of mining expansion, especially in areas where long-term power contracts can be secured. Bitfinex believes that even a small portion of Venezuela's 30.3 billion barrels of oil reserves could have a substantial impact on the energy market, providing relief to miners currently pressured by the decline in Bitcoin prices, rising mining difficulty, and increasing electricity costs.

However, the analysis also notes that the substantial recovery of Venezuela's oil production capacity will still take years, with progress depending on political transitions and sanctions policy arrangements. Overall, changes in energy are still a secondary factor affecting the crypto market, with price trends more likely to be driven by macro risk appetite and cross-asset allocation.