ChainCatcher news, according to CoinDesk, Bitfinex analysts indicate that the Bitcoin miners' Net Unrealized Profit and Loss (NUPL) remains very optimistic, hovering around 0.5, which suggests that miners are still in a strong position, holding substantial unrealized profits, and are inclined to hold onto their Bitcoin at this stage.In the broader market, some traders are attempting to buy December 2025 ETH call options at prices as high as $11,000.

ChainCatcher news, according to Cointelegraph, in December, the purchase volume of Bitcoin spot ETFs reached 51,500 BTC, while the monthly production of miners was only 13,850 BTC, indicating that the demand for Bitcoin spot ETFs exceeds the supply by about 272%.Cryptocurrency researcher Vivek stated that a supply shock is imminent after observing that the balances on Bitcoin trading platforms have dropped to a new low.

ChainCatcher news, automotive trading service provider Cango entered the Bitcoin mining sector in November, investing $400 million to acquire 50 EH/s of computing power, immediately becoming one of the largest miners in the world. The current Bitcoin hash rate hovers around 823 EH/s, and once Cango's 50 EH/s is fully online, it will contribute approximately 6% of the hash rate behind Bitcoin. For reference, the largest publicly listed miner, MARA Holdings (MARA), has slightly over 47 EH/s, while the second largest, CleanSpark (CLSK), and Riot Platforms (RIOT) have 32 EH/s and 26 EH/s, respectively.Cango's Senior Communications Director, Juliet Ye, stated, "I think this is surprising for people in the (Bitcoin mining) industry because no one had heard of Cango before, but Cango's history is one of adaptation. Since the company was founded in 2010, we have ventured into different fields at least two to three times."Acquiring such a large Bitcoin mining hash rate is not cheap. Cango purchased the first batch of 32 EH/s of computing power from Bitcoin mining manufacturer Bitmain for $256 million in cash and will issue $144 million worth of stock for the remaining 18 EH/s.

ChainCatcher news, according to CoinDesk, investment bank Jefferies' latest report shows that driven by Bitcoin's price reaching an all-time high, miners are expected to continue their profitable trend in December. Data indicates that the average Bitcoin price rose by 31% in November, while network hash rate only increased by 4%, with daily revenue per EH/s reaching $55,649, a month-over-month increase of 20.7%.Among them, MARA Holdings ranks first in the industry with a deployed hash rate of 46.1 EH/s, mining 907 Bitcoins in November; CleanSpark ranks second with 33.7 EH/s, producing 622 Bitcoins. U.S.-listed mining companies account for 24.7% of the total network output, and lower winter temperatures help improve equipment operating efficiency.

ChainCatcher message, on-chain analyst Maartunn shared IntoTheBlock data on X stating: "In the past year, miners' Bitcoin balance decreased from 1.99 million BTC to 1.90 million BTC, a decline of 4.74%. Miners are steadily selling, but the amount is not large. This suggests that they may be selling some BTC to cover operational costs."

ChainCatcher message, crypto analyst Ali (@ali_charts) quoted Santiment data stating: "Since December, Bitcoin miners have sold over 140,000 BTC, totaling $13.72 billion."

ChainCatcher news, the decentralized protocol Prosper announced the acquisition of over 7,000 ASIC miners from Bitmain. Prosper aims to expand its underlying Bitcoin hash rate capacity to accelerate the hash rate owned by the DAO and democratize access to institutional-grade mining.

ChainCatcher news, according to Bloomberg, artificial intelligence (AI) companies have significantly outpaced cryptocurrency mining enterprises in energy demand for data centers, becoming a new dominant force in the global electricity market. AI technology giants are willing to pay up to three times the price of electricity compared to Bitcoin miners to support their data centers. This fierce competition is forcing Bitcoin miners to turn to marginalized or intermittent power sources.MAR Holdings CEO Fred Thiel stated that the electricity costs paid by AI companies are much higher than those of crypto miners, putting the latter under survival pressure. For example, his company recently acquired a wind farm in Texas to maintain operations, but this type of power supply is not stable. Additionally, the disadvantages that crypto miners face in loan default rates and financing costs make electricity suppliers more inclined to cooperate with technology giants.It is worth noting that the recent surge in Bitcoin prices, surpassing $100,000, may slow down the trend of miners' data centers being acquired. However, industry experts predict that Bitcoin miners will be further pushed into marginal markets that cannot meet AI's electricity demands, such as inefficient power facilities in remote areas. This competitive landscape indicates that the energy demand patterns of the AI and cryptocurrency industries are undergoing significant changes, while also revealing the relative weaknesses of miners in terms of technology and capital capabilities.

ChainCatcher news, according to Ali's monitoring, Bitcoin miners sold 771 BTC in the past 24 hours, approximately 76 million dollars.

ChainCatcher news, Salvadoran President Nayib Bukele has proposed an innovative plan to lease the country's volcanoes to miners for sustainable Bitcoin mining. Bukele stated on social media on November 25 that miners could use the geothermal energy generated by the volcanoes to reduce mining costs. This idea was inspired by a previous post that showcased El Salvador successfully using geothermal energy to mine 474 Bitcoins, worth approximately $46 million.Bukele pointed out that El Salvador has 170 volcanoes, making it a rich energy reservoir to attract global miners. He wrote, "With 170 volcanoes, launching a 'lease a volcano to mine Bitcoin' program actually makes a lot of sense."In response, Daniel Alvarez, the Director of the General Directorate of Energy, Hydrocarbons, and Mines of El Salvador, stated that the team will begin drafting a new geothermal energy bill to support the implementation of this plan.

ChainCatcher news, according to Ki Young Ju, founder and CEO of CryptoQuant, there are currently about 4.43 million ASIC miners providing computational power support for the Bitcoin network, pushing the total network hash rate to a historical high.This growth mainly comes from the increase in the number of miners, rather than improvements in chip performance. Since the beginning of this year, the number of miners has increased by 826,000 units, a year-on-year growth of 23%.

ChainCatcher news, the Texas Public Utility Commission has passed a regulation requiring Bitcoin miners using the grid maintained by the Electric Reliability Council of Texas (ERCOT) to register and share key details about their facilities.According to the recently passed Texas Public Utility Commission (PUCT) rules, Bitcoin miners must share their facility's location, ownership information, and power requirements with state government agencies. Miners have only one business day to register from the date their facility connects to the ERCOT grid, and they must renew their registration by March 1 of each year.ERCOT is an independent system operator that accounts for 90% of the state's electricity load. According to PUCT Chairman Thomas Gleeson, the new regulations are intended to help manage the grid as more mining facilities come online.Gleeson stated, "To ensure the reliability of the ERCOT grid and meet the electricity needs of all Texans, PUCT and ERCOT need to understand the location and power requirements of virtual currency miners."

ChainCatcher news, Russia has proposed a draft amendment through the Ministry of Finance, suggesting a 15% tax on cryptocurrency income. The proposed changes will reshape the tax framework for crypto miners, affecting income, expenses, and related infrastructure.A key part of the new legislation is the proposal to impose a 15% personal income tax on cryptocurrency income. The income from mining tokens will be taxed at market value upon receipt, and miners can deduct operating expenses to ensure a balanced tax calculation. Cryptocurrencies will be classified as property for tax purposes, eliminating the value-added tax (VAT) on crypto transactions.

ChainCatcher news, according to data disclosed by Cointelegraph on the X platform, Bitcoin miners have transferred approximately 45,000 BTC to exchanges in the past three days.

ChainCatcher news, according to The Block, since the U.S. presidential election, Bitcoin has surged to a new high of over $93,500, with some large miners taking the opportunity to profit by selling part of their Bitcoin, approximately 2,000 coins sold last week.However, CryptoQuant analysts believe that Bitcoin is still undervalued, as valuation indicators do not show it to be overvalued, and with increasing market demand and improving liquidity, it is expected to soon challenge $100,000.

ChainCatcher news, according to Forbes, the Legislative Activity Committee of the Russian government is advancing a cryptocurrency tax bill on November 11, 2024. The bill defines cryptocurrency as property and establishes different tax requirements for individual and corporate miners. Under the new regulations, businesses must register with the Federal Tax Service to legally conduct mining operations, while individuals with monthly electricity consumption below 6000 kilowatt-hours are exempt from registration.The new framework adopts a two-stage taxation model: the first stage taxes when cryptocurrency is received, with the tax base calculated based on the closing price of major exchanges; the second stage taxes upon sale, with additional taxes applied if the sale price exceeds the initial taxable value. Starting in 2024, individual traders and miners with annual income exceeding 2.4 million rubles will be taxed at a progressive rate of 13% to 22%, while the corporate tax rate will increase to 25% in 2025.According to the Industrial Mining Association, these tax measures could bring in 50 billion rubles (approximately 521 million USD) in annual revenue for the budget.

ChainCatcher news, according to data from FarsideInvestors, the BTC production of major listed miners increased in October, with a month-on-month growth of 13%, reaching a total output of 3,630 BTC.

ChainCatcher news, according to data from The Block Pro, Bitcoin miners' revenue in October was $1.02 billion, an increase of $204.3 million compared to September, representing a month-on-month rise of 25%. Of this, $975.22 million came from block rewards, while $44.78 million came from transaction fees.

ChainCatcher news, the cryptocurrency mining company Bitfarms has signed a second hosting agreement with the American Stronghold Digital Mining to expand its operations at its facility in Pennsylvania. The initial terms of the agreement will expire on December 31, 2025, after which it will automatically renew annually. Additionally, Bitfarms will pay Stronghold 50% of the miner profits each month.Bitfarms CEO Ben Gagnon stated that the 20,000 miners on site will enhance efficiency and continue to improve the overall efficiency of the company. Previously, Bitmain signed the first hosting agreement with Stronghold in September, when it added an initial 10,000 miners to its Panther Creek facility in Pennsylvania. (Cointelegraph)