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 Cointelegraph, a ruling by the New York State Supreme Court allows Greenidge Generation to continue generating power and conducting Bitcoin mining at its facility in Dresden, New York, and to reapply for the Chapter V air permit under the Clean Air Act that was denied by the New York State Department of Environmental Conservation (DEC) in June 2022.Nevertheless, the court also affirmed DEC's authority to deny permits under the Climate Leadership and Community Protection Act (CLCPA). The court found that DEC's decision was arbitrary and capricious, but there was no evidence of improper policymaking by DEC, which means that Greenidge's permit will be reconsidered.

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, the Russian government and the country's crypto miner BitRiver announced plans to build mining data centers in BRICS countries. The plan involves the Russian Direct Investment Fund (RDIF), and the two parties released the relevant news on October 18 at the BRICS Business Forum in Moscow.BitRiver CEO Igor Runets stated that the plan will focus on building infrastructure based on crypto mining to enhance global computing power to support the development of artificial intelligence projects.Currently, BitRiver has 21 data centers in Russia and is constructing 10 new centers. Although the specific details of the deal with BRICS have not been disclosed, both parties believe there is a shortage of space for energy-intensive data centers globally. RDIF CEO Kirill Dmitriev emphasized that developing AI computing capabilities is a priority for Russia and its BRICS partners.

ChainCatcher news, Matrixport released a chart stating that since the halving in April 2024, Bitcoin mining daily revenue has significantly decreased from $70 million to $31 million. However, mining stocks have performed relatively well, slightly lagging behind Bitcoin but overall better than expected. As revenues gradually bottom out, mining stocks may see a rebound.Many mining companies have chosen to hold Bitcoin inventories, reducing sales on exchanges, which has alleviated market selling pressure. This strategy not only provides shareholders with Bitcoin operational leverage but also increases inventory leverage. MicroStrategy shareholders have reaped substantial returns using a similar strategy.

According to ChainCatcher news, as reported by Decrypt, Bitcoin company Swan has filed a lawsuit in the U.S. District Court for the Central District of California, accusing its former employees (including former executives) of colluding with Tether to steal its Bitcoin mining business worth billions of dollars. Swan claims that these former employees stole the company's highly proprietary Bitcoin mining monitoring software code, vendor and business partner resources, and collectively resigned to establish a competing company named Proton Management.The lawsuit alleges that Tether played a significant role in this conspiracy by sending Swan a "default notice," providing "legal cover" for this hostile takeover. Swan is seeking a permanent injunction from the court against Proton to prevent further interference with Swan's mining operations and is demanding that the former employees return the stolen equipment and "confidential materials." Swan has requested a jury trial, with the specific amount of damages to be determined at trial.

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, according to Cointelegraph, Canadian Bitcoin mining company Cathedra Bitcoin is halting its seven-year mining operations and adopting a new strategy: to emulate MicroStrategy by purchasing as much Bitcoin as possible on the open market.In the "Bitcoin Treasury Strategy Memo" dated September 16, Cathedra explained that under the new plan, "all capital allocation decisions" will now be based on maximizing the company's Bitcoin reserves on a per-share basis—this is the "most important" metric for many major shareholders.Cathedra stated that Bitcoin-based mining operations have not provided sufficient shareholder value. By market capitalization, 9 out of the 10 largest Bitcoin mining companies now hold less Bitcoin per share than three years ago, adding, "Meanwhile, other publicly traded companies have adopted clear policies to increase the per-share Bitcoin price, most notably MicroStrategy, which has been rewarded by the stock market."Cathedra indicated that it will shift to developing data operation centers to generate "predictable cash flow" to purchase more Bitcoin, and will retain the Bitcoin produced by its existing mining operations, suggesting that the company will not completely abandon mining.Data shows that the company currently holds 23 Bitcoins, valued at $2.5 million, making it the 45th largest Bitcoin corporate holder. Cathedra's statement indicates that the company plans to adhere to its Bitcoin strategy in the long term and notes that it is currently in the "early stages of a decades-long trend," where Bitcoin will become the "dominant global reserve asset."

ChainCatcher message, according to the latest data from The Miner Mag, the BTC production market share of 16 publicly listed Bitcoin mining companies has approached 23%. These companies produced a total of 3,226 Bitcoins in August, which is comparable to the production in May, June, and July.

ChainCatcher news, asset management company Metalpha has added the Antalpha Bitcoin Mining Index for its Bitcoin mining equity fund through its wholly-owned subsidiary LSQ Capital Limited. The index was jointly launched by Bitcoin ecosystem service provider Antalpha and FTSE Russell, and will be rebalanced every 6 months to reflect market conditions.

ChainCatcher news, according to CoinDesk, investment bank Architect Partners pointed out in its latest report that the Bitcoin mining industry is in a consolidation phase, a trend triggered by the halving event in April this year.The report emphasizes that mining companies are seeking to acquire large scalable data center capacity and obtain low-cost electricity and capital. The planned acquisition of Stronghold Digital Mining by Bitfarms is a typical example of the recent merger and acquisition trend. The report's authors believe that hostile takeovers are not common in talent-dependent technology and financial services industries, but the Bitcoin mining industry is different, as its core assets are physical facilities, power resources, and generally available computing equipment. However, this consolidation trend contradicts the original intention of Bitcoin's creator, Satoshi Nakamoto, who hoped that anyone could participate in mining without a concentration of computing power. The impact of the current centralization in the mining industry remains to be seen.

ChainCatcher message, Real Vision analyst Jamie Coutts CMT stated on X: "Bitcoin may have already appeared on the balance sheets of multiple countries, especially those with domestic mining operations. The announcement by Trump and Robert F. Kennedy Jr. to adopt it as a reserve asset for the U.S. will be preemptively implemented by other countries. Regardless of whether these candidates are elected, the situation has changed."

ChainCatcher news, during a hearing held by the Senate Banking, Housing, and Urban Affairs Committee on Thursday, U.S. Senator Elizabeth Warren questioned Assistant Secretary for Investment Security Paul Rosen from the Treasury Department about the threats posed by foreign-owned cryptocurrency mining operations in the United States.Senator Elizabeth Warren claimed that the U.S. cryptocurrency mining industry poses a threat to national security, stating that "cryptocurrency mining operations run by foreign adversaries" could be used to "monitor U.S. military operations."Warren added that "foreign-owned crypto mines also threaten the power grid, and their connections to the U.S. grid could make the U.S. vulnerable to targeted blackouts and cyberattacks."

ChainCatcher news, Zimbabwe's largest gold mining company Kuvimba has introduced a blockchain-based near real-time traceability system for gold production in the country. This system ensures that all gold from Kuvimba can be traced from the mine to the international market, enhancing the transparency and legality of gold from extraction to trading. Currently, the system has been implemented at the Freda Rebecca and Jenna mines, with plans to expand it to other minerals as production scales up.

ChainCatcher news, according to CoinDesk, the U.S. Department of Energy (DOE) plans to investigate the energy consumption of cryptocurrency mining companies again, this time starting by soliciting opinions from industry participants. The Energy Information Administration (EIA) held a public webinar on Wednesday to hear from crypto miners and industry participants.In January of this year, the EIA proposed a mandatory survey requiring nearly 500 cryptocurrency mining companies to provide detailed energy consumption data, but it was blocked by a lawsuit. The webinar attracted over 100 participants, with 10 individuals providing comments, including Bitcoin researcher Margot Paez and Texas Blockchain Association President Lee Bratcher.EIA official Stephen Harvey stated that a preliminary proposal is currently being developed, which is expected to be published in the Federal Register this quarter and will accept industry feedback during a 60-day comment period. The final decision rests with the Office of Management and Budget (OMB).

ChainCatcher news, according to CoinDesk, investment bank Jefferies stated in a research report on Monday that due to a 2% increase in Bitcoin prices, a 5% decrease in network mining difficulty, and adjustments made to the market's expectations regarding the halving, Bitcoin mining profits in June were higher than in May.Analyst Jonathan Petersen wrote: "From the most obvious direct impact of the halving in May, June was a month of moderate recovery in (mining profits)."

ChainCatcher news, according to Bitcoin.com, the National Electricity Administration of Paraguay (ANDE) has announced an increase in electricity prices for Bitcoin and cryptocurrency mining operations in the country. ANDE has raised the electricity prices for cryptocurrency mining, blockchain, tokens, and data centers by 14%, which may affect the feasibility of maintaining these activities in the country.Due to the lack of clarity in this field, this price increase has already led to the withdrawal of a company that planned to invest over $400 million in the country.