Monetization Rate: Annualized Revenue ÷ Cumulative Chip Spend (%)

Annualized revenue per dollar of chip capital has been rising through the price-increase period, not what oversupply looks like.Draft, pending review

How to read this chart

Annualized revenue per dollar of chip capital. If this line falls during a price-increase period, that is evidence of oversupply.

Source: FinSight compilation and estimates · Updated 2026-08-31