ChainCatcher news, Bitcoin miners Marathon Digital and Riot Platforms announced that their monthly Bitcoin production has reached its highest level since the Bitcoin halving in April, marking a strong rebound since the miner rewards halved.Marathon produced 717 Bitcoins, worth $48.8 million. Marathon CEO Fred Thiel explained that the company attributes part of this to its powered hash rate rising over 14%, exceeding 40 exahashes per second. Riot mined 505 Bitcoins in October, worth $34.4 million, a month-over-month increase of 22.6%.

ChainCatcher news, according to The Block, Bitcoin mining company Riot Platforms released its Q3 2024 financial report. The report shows that the company's total revenue for the third quarter was $84.8 million, with Bitcoin mining revenue accounting for $67.5 million, and a net loss of $154.4 million, resulting in a loss per share of $0.54, significantly exceeding market expectations of a loss per share of $0.18.In the third quarter, a total of 1,104 Bitcoins were produced, essentially flat compared to 1,106 Bitcoins in the same period last year. As of the end of the quarter, the company held approximately $1.3 billion in cash, restricted cash, and securities, as well as 10,427 Bitcoins.

ChainCatcher news, according to Cointelegraph, Wall Street's third-largest Bitcoin miner Riot Platforms has significantly increased its stake in competitor Bitfarms Ltd.In a regulatory filing on August 13, Riot disclosed that it would acquire an additional 1 million shares of Bitfarms common stock through the open market. The transaction is valued at approximately $2.28 million, increasing Riot's total holdings in Bitfarms from 84.3 million shares to 85.3 million shares. With this acquisition, Riot now owns 18.9% of Bitfarms, thereby enhancing its influence over the Canadian mining company. Riot stated that it will continue to review its investment in Bitfarms and may consider taking further actions, including adjusting its position or proposing other changes to the board composition.

ChainCatcher news, analysts from the research and brokerage firm Bernstein claim that their current prediction of a $200,000 Bitcoin price by the end of 2025 is "conservative," and they urge skeptics to reconsider the limited supply of cryptocurrencies in an era of record-high U.S. debt levels. For investors who do not want to hold Bitcoin directly, the analyst suggests investing in MicroStrategy, the world's largest Bitcoin corporate holder, and Robinhood, which is continuing to expand its crypto services, as alternatives for indirect investment.The analyst also highlighted the potential of U.S. publicly traded companies Riot Platforms and CleanSpark, which are integrating thousands of megawatts of power for Bitcoin mining, as well as AI-diversified companies like Core Scientific, which leverage the demand for AI hosting services, as they possess valuable power pipelines while still managing Bitcoin mining operations.

According to ChainCatcher news, in an unaudited production and operational update report for September 2024, Bitcoin mining company Riot Platforms disclosed that it mined 412 Bitcoins in September, an increase of 28% compared to the output in August, while the number of Bitcoins mined in the same period of 2023 was 362. Riot Platforms also revealed that it is expanding its mining facilities, and once completed, its total Bitcoin mining capacity is expected to reach 1 gigawatt.

ChainCatcher news, according to The Block, Bitfarms and Riot Platforms have reached a settlement, which may mean the end of the acquisition dispute between the two Bitcoin mining companies. According to the terms of the agreement, Bitfarms co-founder Andres Finkielsztain has resigned from the board, and Riot-nominated independent director Amy Freedman (a corporate governance and capital markets expert with over 25 years of experience) will take over his position, effective immediately. Riot has agreed to withdraw its amended request and accept the regular standstill provisions until Bitfarms' 2026 annual meeting.Currently, Riot holds 19.9% of Bitfarms' common stock. Under the settlement agreement, Bitfarms has granted Riot certain rights, allowing Riot to purchase additional shares of the company as long as Riot holds 15% or more of the outstanding common stock. However, under the standstill provisions, Riot is still prohibited from acquiring more than 20% of Bitfarms' shares without prior board approval unless Riot intends to make another formal acquisition.On Monday, Riot stated that it intends to regularly review its investment in Bitfarms and may increase or decrease its stake in the company.

ChainCatcher news, according to The Block, Bitcoin mining company Bitfarms has postponed the special shareholders' meeting by a week to reassess the revised demands proposed by Riot Platforms.Bitfarms has delayed the meeting originally scheduled for October 29 to November 6, which was initially in response to the demands made by Riot Platforms on June 24.Riot amended its demands on September 3, focusing primarily on Bitfarms' recent governance changes and its proposal to acquire Stronghold Digital before the special shareholders' meeting. Riot advocates for further changes to Bitfarms' board, arguing that independent oversight and better governance practices are needed to enhance shareholder value.

ChainCatcher news, according to CryptoSlate, the Vice President of Research at Bitcoin mining company Riot Platforms, Pierre Rochard, stated that in Texas, excess electricity production caused its price to drop to $0 at one point, and Bitcoin miners were able to absorb this surplus energy, effectively stabilizing the grid.Analysis points out that Bitcoin mining is often criticized for its energy consumption and environmental impact. However, it also provides significant benefits, particularly in terms of grid stability and energy efficiency. One key advantage is that Bitcoin miners can quickly turn mining equipment on and off, responding to fluctuations in energy demand.

ChainCatcher news, according to Cointelegraph, the largest shareholder of mining company Bitfarms Ltd., Riot Platforms, Inc., has sent an open letter to Bitfarms shareholders calling for further changes to the company's board of directors.The upcoming shareholders' meeting is scheduled for October 29. At this meeting, Riot will advocate for reforms to improve corporate governance and enhance value for all shareholders. Bitfarms is a publicly traded company based in Canada, focusing on the cryptocurrency industry, particularly on Bitcoin mining.Riot holds a 19.9% stake in this Bitcoin mining-focused company and acknowledges recent changes to the board, including the resignations of co-founders Emiliano Grodzki and Nicolas Bonta.

According to ChainCatcher news, statistics from HODL15Capital show that among the listed Bitcoin mining companies, Marathon Digital holds 20,818 BTC, ranking first. Following is Riot Platforms, holding 9,334 BTC; Hut 8 holds 9,109 BTC, ranking third.The holdings of other mining companies are as follows:Cleanspark holds 7,082 BTC;Hive Digital holds 2,496 BTC;Cifer Mining holds 2,270 BTC;Canaan holds 1,057 BTC;Bit Digital holds 1,038 BTC;Bitfarms holds 1,016 BTC.

ChainCatcher news, U.S. stock blockchain concept stocks are falling before the market opens, among which:Coinbase (COIN.O) fell over 14%;MicroStrategy (MSTR.O) fell 17.90%;Block (SQ.O) fell 6.21%;Marathon Digital (MARA.O) fell over 14%;Riot Platforms (RIOT.O) fell 11.09%.

ChainCatcher news, Bitcoin mining company Riot Platforms released its earnings report indicating a net loss of $84.4 million for Q2, compared to a net loss of $27.4 million for the same period in 2023. This quarter's net loss includes a Bitcoin fair value change loss of $76.4 million, non-cash stock compensation expenses of $32.1 million, and depreciation and amortization expenses of $37.3 million.The non-GAAP adjusted EBITDA for this quarter was -$75.2 million, while it was $24.3 million for the same period in 2023.As of June 30, 2024, Riot Platforms holds 9,334 unencumbered Bitcoins, all of which are from the company's self-mining operations.

ChainCatcher news, the encrypted mining company Riot Platforms stated in a declaration on July 24 that the Ontario Capital Markets Tribunal issued a cease trading order on Bitfarms' poison pill plan, immediately terminating the strategy.Since June 13, Bitfarms has been opposing Riot Platforms' $950 million acquisition offer, claiming that Riot unfairly undervalued the company. The company adopted a poison pill strategy known as a "rights plan" to attempt to block the acquisition.Poison pill strategies are typically used by companies to prevent hostile takeovers. Under this strategy, existing shareholders purchase additional shares at a significant discount, diluting the value of the shares held by the acquirer. According to Bitfarms' now-defunct rights plan, if any entity acquires more than 15% of the company's outstanding shares before September 10, Bitfarms will issue new shares to other existing shareholders, thereby reducing that entity's ownership.

ChainCatcher news, JPMorgan stated in a research report that Riot Platform (RIOT) acquiring competitor Bitcoin miner Block Mining makes sense as it diversifies the company's power supply and increases its capacity to over 2 gigawatts (GW).After this acquisition, Riot will become the second-largest miner by capacity among publicly listed Bitcoin miners in the United States, and this deal is "the latest assessment of undeveloped power assets."

ChainCatcher news, reported by The Block, Bitcoin mining company Riot Platforms has acquired Kentucky-based Bitcoin miner Block Mining for $92.5 million.Riot stated that this acquisition could add 60 megawatts of existing operational capacity. The transaction immediately increases Riot's existing self-mining hash rate by 1 EH/s, with the total hash rate potentially reaching 16 EH/s by the end of 2025.

ChainCatcher news, Bitcoin miner Bitfarms has set October 29, 2024, as the date for its special shareholder meeting, following a request from Riot Platforms to convene a special shareholder meeting on June 24.The company stated in a release on Friday that Bitfarms shareholders who are on record as of September 26, 2024, are entitled to vote at the meeting, but no action is currently required. Bitfarms indicated that the board's special committee of independent directors reviewed the request with the assistance of financial and legal advisors and unanimously decided on the meeting and record dates.

ChainCatcher news, Riot Platforms has proposed a comprehensive plan to improve Bitfarms Ltd. and launched a website to detail this strategy.As part of the effort to acquire Bitfarms, Riot has called a special shareholder meeting to nominate three new directors: John Delaney, Amy Freedman, and Ralph Goehring. The proposal includes the removal of current chairman Nicolas Bonta and directors Andrés Finkielsztain and Fanny Philip, who was recently appointed after co-founder Emiliano Grodzki's resignation.Riot emphasizes the need for new perspectives to drive Bitfarms' growth and strategic direction.