ChainCatcher news, the modular blockchain Sophon based on ZKsync announces the mining migration plan.Specific timeline:• December 19, 23:59 UTC: L1 mining closes for new deposits, while an optional L1 withdrawal window opens.• December 26, 23:59 UTC: L1 withdrawal window closes, and unwithdrawn assets will be automatically cross-chained to the Sophon mainnet.• December 27: All remaining assets complete automatic cross-chain, and the first phase of SP points accumulation ends.• December 28: Sophon mainnet mining officially starts, the second phase of SP points accumulation begins, using a USD-based distribution method and supporting gas-free mining.

ChainCatcher news, Cango Inc. saw its stock price rise by 280% due to its entry into the Bitcoin mining business, with two board members planning to sell $2 million worth of company stock.According to new documents released on Thursday, Cango CEO Jiayuan Lin and director Zhipeng Song plan to sell 100,000 and 200,000 shares of the company stock, respectively, with the sale expected around December 20. The total market value of the shares being sold is estimated at $2.07 million.Cango was founded in 2010 as a digital platform for providing auto loans. It went public on the New York Stock Exchange in 2018. Last month, Cango announced the acquisition of 32 EH/s Bitcoin mining machines from Bitmain as part of its entry into the Bitcoin mining sector. In November alone, the company mined 363.9 BTC. This move triggered a 290% surge in Cango's stock price, jumping from around $2.80 to $8.00.

ChainCatcher news, Nasdaq-listed company Nature's Miracle Holding Inc. (NMHI) announced the acquisition of 90% fully diluted shares of Bitcoin mining company J&Y Marigold Ltd. for a total purchase price of $5.32 million. The latter is currently constructing a 14-megawatt Bitcoin mining facility, expected to be operational in the first half of 2025. The first phase of the transaction (9MW) is expected to be completed in the first quarter of 2025, while the second phase (5MW) is expected to be completed in the second quarter of 2025.

ChainCatcher news, according to the OKG Research of OKChain Research Institute, this ratio has fallen below 1 for the second lowest level since November 11. It not only maintains the healthy profitability of miners and stabilizes the Bitcoin ecosystem but also boosts miners' confidence and reduces the risk of sell-offs due to cost pressures. The decrease in the ratio is mainly attributed to three recent positive news, as follows:MicroStrategy included in the Nasdaq: News on Saturday indicated that MicroStrategy has been officially included in the Nasdaq component stocks, meaning that any investors holding or purchasing the Nasdaq will passively allocate Bitcoin, further strengthening the institutional trend.FASB fair value accounting rules take effect: The new regulations officially come into effect today, allowing companies to optimize their financial reports by holding Bitcoin as a reserve asset, which is expected to accelerate the adoption of Bitcoin in corporate asset allocation.Rising expectations for Fed rate cuts: According to CME FedWatch data, the probability of the Federal Reserve cutting rates by 25 basis points in December has reached 96%, and the loose macro environment further benefits the Bitcoin market.

ChainCatcher message, CloverPool data shows that the Bitcoin mining difficulty experienced an adjustment at block height 874,944 (2024-12-16 09:33:30), with the mining difficulty increased by 4.43% to 108.52 T, setting a new historical high. The current average network hash rate is 792.06 EH/s.

ChainCatcher news, according to the official announcement, Binance will list Vana (VANA) on December 16, 2024, at 10:00 (UTC), and open trading pairs VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY.Users can participate in VANA mining activities by staking BNB and FDUSD starting from December 14, 2024, at 00:00 (UTC), and the mining will last for two days.Previous news, Vana co-founder Anna Kazlauskas attended the "DeInsight 2024" annual summit on November 11, co-hosted by ChainCatcher and RootData, with SoSo Value as a co-organizer.

ChainCatcher news, 10xResearch posted on social media that, contrary to popular belief, it believes that the price of Bitcoin is driven by demand rather than changes in the supply of BTC itself (mining).Each cycle of Bitcoin's five bull markets has been driven by innovations in how investors acquire it, from the creation of early spot trading platforms to the use of contracts, unsecured loans, spot Bitcoin ETFs, and now options on these ETFs.This development highlights the increasing integration of Bitcoin with traditional financial markets, and the regulatory approvals from U.S. agencies such as the CFTC and SEC have accelerated this trend, as these agencies have legalized Bitcoin-related financial products over time.

ChainCatcher news, citing sources from The Wall Street Journal, reports that the American hedge fund Starboard Value has acquired a stake in Riot Platforms, with specific shareholding details unclear, and is pushing the company to improve its business model.According to reports, Starboard has been urging Riot to convert some of its Bitcoin mining sites into data centers to host machines for large tech companies, providing high-performance computing (HPC).Riot is currently a "pure" Bitcoin miner, with its revenue solely coming from Bitcoin mining, while some of its peers, such as Core Scientific (CORZ), utilize a significant portion of their facilities for HPC and artificial intelligence computing.

ChainCatcher news, lawyer Liu Yang stated that in the future, China may implement a licensing system for certain virtual currency businesses, such as the exchange of fiat currency and virtual currency.Based on the current judicial situation, it is possible that relevant departments will be authorized to engage in the exchange of virtual currency to fiat currency, and it is highly likely to be one-way, rather than free exchange; however, trading virtual currency is difficult to liberalize, and issuing coins and mining cannot be liberalized at this stage.

ChainCatcher news, the cryptocurrency venture capital firm Digital Currency Group (DCG) has decided to split its Foundry mining business into two independent entities, Fortitude Mining and Foundry.Fortitude Mining will house Foundry's previous self-mining operations and physical infrastructure. On the other hand, Foundry will maintain its pool operations and other Bitcoin mining service lines.DCG noted in a shareholder letter that it is adjusting its business to accommodate future growth. The letter stated, "We believe that (Fortitude) will be stronger as an independent company, so we are spinning it off as a wholly-owned subsidiary of DCG."To ensure a smoother transition, DCG will bring some of Foundry's leadership into the new subsidiary. To gain further support and raise funds, DCG plans to recruit additional staff from outside. Fortitude has already requested its hosting service providers to invoice the new entity, which has been ongoing for at least a month. (Blockspace)Previously, sources disclosed that the world's largest Bitcoin mining pool, Foundry, is laying off 27% of its workforce during the planned restructuring, affecting 16% of Foundry's employees in the U.S. and parts of the team in India.

ChainCatcher news, the encrypted mining chip design company Nano Labs has completed its previously announced private placement of 5,611,459 shares of Class A common stock at a purchase price of $6.46 per share, raising approximately $36.25 million. The total purchase price was paid in USD, Bitcoin, and USD.

ChainCatcher news, Binance founder Zhao Changpeng tweeted that as of now, out of the total supply of 21 million bitcoins, 19.8 million have been mined, and the supply of bitcoin is strictly controlled by mathematical algorithms.

ChainCatcher news, according to the official announcement, Binance Pool has officially launched Luckycoin (LKY) joint mining. Mine Litecoin (LTC) and earn LTC, Dogecoin (DOGE), Bellscoin (BEL), and Luckycoin (LKY). Enjoy zero pool fees during this period.Event period: December 10, 2024 00:00 (UTC) - December 31, 2024 23:59 (UTC)

ChainCatcher news, the listed mining company Hut 8 recently announced its November operational update report, which disclosed a mining output of 94 BTC in November, slightly down from 100 BTC in October. Additionally, the company holds 9,122 BTC on its balance sheet as of November 2024.Hut 8 CEO Asher Genoot stated, "In November, we completed the development of the Salt Creek R&D facility, achieving a net increase in deployed self-mining hash rate and efficiency, thanks to the upgrade of the initial mining fleet. This is expected to drive the average mining fleet efficiency to 19.9 joules per terahash, with performance expected to further improve in the first quarter of 2025."Furthermore, the Vega site is expected to be operational in the second quarter of 2025.

ChainCatcher news, Nasdaq-listed company Bitdeer released unaudited mining and operational update data for November 2024, disclosing that 150 BTC were self-mined in November, and additionally, the number of client-hosted machines increased by 11,000.

ChainCatcher news, Nasdaq-listed Bitcoin mining company Core Scientific has released an unaudited production and operational update report for November 2024, disclosing that its mining output for November was 314 BTC. As of the end of the month, it operated approximately 172,000 Bitcoin mining machines in its data centers for self-mining and hosting, with a total hash rate of 20.3 EH/s.

ChainCatcher news, according to CloverPool data, Bitcoin mining difficulty experienced an adjustment at block height 872,928 (2024-12-02 23:34:00), with the mining difficulty increased by 1.59% to 103.92 T, setting a new historical high. Currently, the average network hash rate is 726.57 EH/s.