ChainCatcher news, according to short-selling research firm S3 Partners, the short interest in Bitcoin mining stocks has surged by 50% over the past 30 days, reaching $4.6 billion.This is the highest level for 2024, with Bitcoin mining stocks like Riot, Marathon Digital, and CleanSpark seeing price increases of 86%, 55%, and 73% respectively since September, far exceeding Bitcoin's gains.Matthew Unterman, Managing Director at S3 Partners, stated that this rapid increase could trigger a short squeeze, leading to market volatility.

ChainCatcher news, according to Chainwire, the decentralized protocol Prosper announced that its native project token PROS has received investment from the crypto mining company BIT Mining, with the specific amount not disclosed.It is reported that the Prosper protocol aims to connect institutional-grade Bitcoin mining capabilities to the blockchain, with the goal of unlocking the potential of Bitcoin through liquidity mining.

ChainCatcher news reports that Russia's comprehensive cryptocurrency mining regulations came into effect on November 1, imposing strict energy limits, mandatory registration, and rigorous oversight to reform the industry. The law officially defines mining as a legal activity in Russia, stipulating safety and operational requirements for miners and creating a framework for trading digital financial assets on specially approved platforms. This framework aims to provide clarity and oversight for Russia's growing cryptocurrency industry, in the face of increasing energy demands and concerns over illegal mining activities.Under the new regulations, only registered organizations and individual entrepreneurs can legally engage in cryptocurrency mining. However, individual Russian citizens who are not formally registered as entrepreneurs can also mine, but with a monthly electricity consumption limit of 6,000 kWh. If they exceed this limit, they will need to register as entrepreneurs to continue their mining activities. This approach ensures that smaller individual mining operations remain viable while imposing stricter requirements on larger, potentially commercial operations.The regulations also establish detailed reporting obligations for miners, requiring them to disclose the total amount of digital currency mined to the Federal Tax Service (FTS) and provide address identifiers for each transaction. This information will be accessible only to law enforcement agencies, ensuring a degree of privacy protection while enabling oversight. Additionally, miners must ensure that their operations meet standards of reliability, safety, and power stability to mitigate risks to the local power grid.

ChainCatcher news, Russian Deputy Energy Minister Evgeny Grabchak announced that due to ongoing energy shortages, Russia will restrict cryptocurrency mining in specific regions. The affected areas include the Far East, southwestern Siberia, and southern regions with limited power resources. The power shortage may persist until 2030, making large-scale mining difficult to sustain in the long term. The state news agency TASS confirmed the ban.Law enforcement actions have been launched against illegal or household mining. On October 28, Russian authorities arrested a resident of Novosibirsk who was suspected of power fraud related to cryptocurrency mining, profiting over 12 million rubles (approximately $123,000). The case is still under further investigation.

ChainCatcher news, Bitmain issued a statement stating that Bitmain focuses on the cryptocurrency mining machine business and has no connection with the recent media reports regarding the supply investigation. Any news claiming that Bitmain is involved in the aforementioned incident is false. Bitmain reserves the right to pursue legal responsibility against media outlets that publish and disseminate false information.Previous news, the U.S. Department of Commerce launched an investigation into TSMC earlier this month to confirm whether it provided chips to Huawei. Subsequently, TSMC stopped supplying chips to the AI company Sophgo, which is affiliated with Bitmain.

ChainCatcher news, according to Cointelegraph, Green United promoter Kristoffer Krohn filed a motion on October 24 in the U.S. District Court for Utah, requesting the Tenth Circuit Court of Appeals to rule on the SEC's allegations in a $18 million cryptocurrency mining fraud case. Krohn argues that the SEC's application of securities law is incorrect, claiming that the company is selling high-performance computing hardware rather than securities.Previously reported, U.S. District Court Judge Ann Marie McIff Allen dismissed the defendants' motion to dismiss, stating that the SEC's allegations of unregistered securities sales are "well-supported."

ChainCatcher news, Bitcoin mining company BitFuFu announced plans to acquire a majority stake in an 80 megawatt (MW) cryptocurrency mining facility in Ethiopia. This acquisition marks a shift for the Wall Street-based mining company as they seek cheaper energy in East Africa to cope with rising operational costs and shrinking profit margins.Over the past year, BitFuFu's operating costs have surged by 170%, leading to a 75% decline in net profit. The company's entry into Ethiopia is expected to alleviate these challenges by reducing energy costs (averaging below $0.04 per kilowatt-hour).

ChainCatcher news, the Bitcoin Voter Project, a political action committee (PAC) supported by executives from the crypto mining industry, has launched two ads for Republican candidate Ted Cruz.Members of the PAC include executives from cryptocurrency mining companies Marathon Digital Holdings, CleanSpark, and Riot Platforms. The ads claim that Ted Cruz understands "embracing Bitcoin," but do not explicitly mention any policies of his opponent Colin Allred.

ChainCatcher news, according to Bloomberg, German Bitcoin mining company and data center operator Northern Data AG is considering selling its cryptocurrency mining business to free up funds for expanding its artificial intelligence business.The Frankfurt-listed company, whose main shareholder is stablecoin issuer Tether Holdings Ltd., stated in a press release on Monday that it will use the proceeds from the sale of Peak Mining to focus on its artificial intelligence solutions division. Following the news, Northern Data's stock price surged by 12% at one point, and as of 12:06 PM Frankfurt time, it had risen by 9.8%.

ChainCatcher news, according to Cointelegraph, the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) have informed the U.S. Supreme Court that the class action lawsuit accusing Nvidia of misleading cryptocurrency miners during sales should be allowed to proceed.Since 2018, Nvidia has been in a legal battle with investor groups, and the case has now reached the U.S. Supreme Court.In a brief filed on October 2, U.S. Acting Attorney General Elizabeth Prelogar and SEC senior attorney Theodore Weiman argued that the lawsuit "provides sufficient detail" to allow it to continue after being dismissed in district court, adding that the Supreme Court should greenlight the restoration of the lawsuit through the appellate court.The brief further stated, "Valuable private litigation is an important complement to the criminal prosecutions and civil enforcement actions of the Department of Justice and the SEC."

ChainCatcher news, according to Decrypt, the lawsuit against the cryptocurrency company Green United by the U.S. Securities and Exchange Commission (SEC) has recently drawn industry attention. The SEC accuses Green United of defrauding investors of $18 million through the sale of so-called "Green Boxes" mining equipment. Last week, a federal judge dismissed Green United's motion to dismiss, sparking speculation on social media that the sale of cryptocurrency mining hardware could be considered securities. However, several legal experts stated that there is currently no reason for excessive concern.Ishmael Green, a partner at Diaz Reus law firm, pointed out that as long as the mining equipment is sold with the understanding that it will be used for mining by the end user, there should be no issue. "In the Green United case, the sales agreement for the mining equipment states that Green United will control and operate the system, which is the problem." Hadas Jacobi, a consultant at Reed Smith law firm, stated that although the SEC did not explicitly mention hosted mining, it could have implications for hosted mining services. While Green United attempted to portray the case as the SEC misunderstanding hosted mining, the judge denied its motion to dismiss. Currently, the judge has only decided to hear the case and has not ruled on the SEC's arguments.

ChainCatcher news, according to Cryptonews, the police of Dagestan, Russia, in conjunction with energy officials, conducted a raid on an underground cryptocurrency mining hideout located in Makhachkala, discovering 17 mining devices. A video released by the cabinet shows these devices operating in a small space several meters underground.Officials stated that the mining site was operated by "electricity thieves," and miners have begun establishing underground mines and mobile mining units in multiple locations.Additionally, these illegal mining activities caused a fire at the local 110 kV Novaya substation, resulting in power outages in parts of the capital for several days. The government will allocate approximately 3 billion rubles (about 32.5 million USD) for the repair of the damaged energy facilities.

ChainCatcher news, Green United LLC failed to dismiss the lawsuit from the U.S. Securities and Exchange Commission, which accused its executives of implementing a fraudulent cryptocurrency mining scheme that defrauded investors of $18 million. Defendants Wright Thurston and Kristoffer Krohn are alleged to have falsely sold non-existent mining equipment, promoting "green boxes" and "green nodes" as tools for mining GREEN tokens.On September 23, Judge Ann Marie McIff Allen ruled that the defendants failed to rebut the SEC's allegations, denying the motion to dismiss the fraud charges against Thurston, noting that the distribution of GREEN tokens to investors relied solely on Thurston's personal decisions.

ChainCatcher news, a man in his 30s in South Korea was arrested by the Korean police for defrauding 250 million won (approximately 187,000 USD) under the pretense of cryptocurrency mining investment.According to the Ulsan Southern Police Station, the suspect, identified as A, deceived investors from May 2021 to May this year by promising high returns of 3 to 4 times to members of interest groups.Investigations revealed that A did not use the funds for mining operations but instead used them to pay off personal debts, wedding expenses, and living costs. A has now been arrested by the police, and the case will be handed over to the prosecution for further handling.

ChainCatcher news, Argentine tax officials and naval security personnel conducted a joint operation to dismantle a large smuggling ring of Bitcoin mining equipment. In this "major operation," the Argentine Naval Prefecture (PNA) and the Federal Administration of Public Revenue (AFIP) carried out multiple raids, seizing hundreds of high-end mobile phones, graphics cards, and mining components.Officials revealed that the gang used "crypto investments" for money laundering and smuggled in cities such as Mar del Plata and Bahía Blanca. The operation seized over 30 million pesos (approximately 31,000 USD) and 19,000 USD in cash, with four suspects arrested and facing charges related to smuggling and money laundering.

ChainCatcher news, Riccardo "Fluffypony" Spagni, the former chief maintainer of the privacy blockchain Monero, has launched a new mining application called Tari Universe. This application aims to "democratize" cryptocurrency mining by using an ASIC-resistant hashing algorithm that allows users to mine with regular computers. After the recent release of this application, Spagni stated that his goal is to make mining easier for everyone, "We want to create an experience where technology gradually fades into the background. Tari Universe is about empowering users rather than suppressing them."Spagni is promoting the L1 protocol, despite facing fraud and forgery allegations from his former employer Cape Cookies. In June of this year, a report from Mybroadband stated that Spagni defrauded Cape Cookies of approximately $83,400 between October 1, 2009, and June 8, 2011. However, South African authorities did not take action until August 2021, when they requested U.S. authorities to arrest him.Since his arrest and subsequent extradition to South African authorities, Spagni has maintained his innocence and attempted to overturn the arrest warrant. However, the South African Supreme Court of Appeal denied this request.

ChainCatcher news, according to Bitcoin.com, the International Monetary Fund (IMF) published a blog post this week written by Shafik Hebous, Deputy Director of the IMF's Fiscal Affairs Department, and another economist, Nate Vernon-Lin.The authors emphasized the environmental challenges posed by cryptocurrency mining and artificial intelligence data centers, noting that these sectors already account for 2% of global electricity consumption. They added, "According to our estimates based on projections from the International Energy Agency (IEA), this share could rise to 3.5% within three years."The report warns that this increasing energy use could lead to cryptocurrency mining contributing 0.7% of global carbon emissions by 2027, and emphasizes, "Expanding the analysis to data centers (according to IEA estimates) means that by 2027, carbon emissions from these sectors could reach 450 million tons, accounting for 1.2% of the global total."To address this issue, Hebous and Vernon-Lin proposed a targeted electricity tax, stating, "A tax system is a way to guide businesses to reduce emissions. According to IMF estimates, a direct tax of $0.047 per kilowatt-hour would encourage the cryptocurrency mining industry to curb its emissions in line with global targets."However, critics argue that these taxes could severely hinder the development of the cryptocurrency industry. Additionally, some studies have shown that the environmental impact of cryptocurrency mining remains relatively small compared to other major industries such as e-commerce or traditional finance.

ChainCatcher news, according to Cointelegraph, the Deputy Director of the International Monetary Fund (IMF) Fiscal Affairs Department, Shafik Hebous, and economist Nate Vernon-Lin from the Climate Policy Department stated that a tax of 0.047 yuan per kilowatt-hour "will drive the cryptocurrency mining industry to curb its emissions in line with global goals." If the impact of miners on local health is taken into account, the tax will rise to 0.089 dollars per kilowatt-hour. Increasing taxes will raise the average electricity price for crypto miners by 85%, generate an additional 5.2 billion dollars in global government revenue annually, and reduce emissions by 100 million tons per year, equivalent to Belgium's emissions.They claimed that the electricity consumed by a single Bitcoin transaction is roughly equivalent to the average electricity usage of a Pakistani person over three years, while the energy required for the AI model ChatGPT is ten times that of a Google search. The two also proposed a 0.032 dollars per kilowatt-hour energy usage tax on AI data centers, which would rise to 0.052 dollars when accounting for pollution costs, as "these data centers are often located in areas with greener electricity." IMF officials stated that this tax could generate 18 billion dollars in revenue for the government each year.