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)

ChainCatcher news, according to The Block, JPMorgan analysts indicate that Bitcoin miners face a window of opportunity to sign contracts for data center and high-performance computing (HPC) services with large-scale computing and AI startups over the next 9 months.Due to delays in data center approvals and grid connections, Bitcoin miners can leverage their existing infrastructure to meet AI computing demands. The report notes that the capacity of the U.S. power grid is limited, and the demand for AI and HPC will continue to grow until 2026.

ChainCatcher news, according to official sources, major digital asset broker FalconX has announced the launch of an "electronic streaming service" that automatically converts assets earned by crypto miners from operations into US dollars, applicable to any PoW token, including Bitcoin and Litecoin, to simplify the reinvestment process.

ChainCatcher news, according to CoinDesk, research from investment bank Jefferies shows that Bitcoin mining profits declined in September, despite Bitcoin prices remaining relatively stable, while network hash rate increased by about 1.7%. The bank noted that the average daily revenue per Exahash fell by 2.6%.Additionally, October may be more challenging for miners; although Bitcoin prices rose by about 5%, the network hash rate grew by 11%, further pressuring earnings.The report also indicated that the share of mining by North American publicly listed companies increased from 19.9% in August to 22.2% in September, with Marathon Digital mining the most Bitcoin at 705 coins, followed by CleanSpark (CLSK), which mined 493 coins.

ChainCatcher news, Ethiopia expands Bitcoin mining power allocation to 600 megawatts, becoming one of the fastest-growing markets in the world, and plans to further increase capacity this year.According to Ethan Vera, co-founder and CEO of Bitcoin miner Luxor, miners in Ethiopia primarily use low-power mid-generation equipment, such as the S19J Pro and A1346 models.It is reported that Ethiopia also aims to become a Bitcoin mining hub by signing power supply agreements with 21 mining companies, mainly from China.

ChainCatcher news, according to official sources, Bitmain has released the ANTMINER S21+ series mining machines today, with the S21+ Hyd. having a single machine hash rate of 319T and an energy efficiency ratio of 15.0J/T, while the S21+ has a single machine hash rate of 216T and an energy efficiency ratio of 16.5J/T.

According to ChainCatcher news, reported by The Block, in September, the overall revenue of listed cryptocurrency mining companies experienced a decline for the third consecutive month, while the network difficulty increased, making the situation even more challenging.According to a report by JPMorgan, the Bitcoin network's hash rate increased monthly in the second quarter, reaching 643 EH/s in September, a 2% increase from August. Meanwhile, miners' revenue per EH/s decreased by 6% month-on-month, averaging $42,100.Despite the fact that Bitcoin's value increased by about 7% in September in terms of market capitalization, recovering most of the losses from August, the total market capitalization of 14 U.S.-listed Bitcoin miners tracked by JPMorgan rose by 4% in September, reaching $21 billion.

ChainCatcher news, theblock.co mining data shows that Bitcoin miners earned $815.7 million from rewards and fees in September, marking the lowest income month of 2024, which is $35.66 million less than August. Of this, $800.184 million came from Bitcoin block rewards of 3.125 BTC, while in terms of fees, miners earned a total of $13.86 million for the entire month.It is worth noting that September was also the month with the lowest fee income of the year.

According to ChainCatcher news, as reported by Bitcoin Magazine, last week the U.S. Bitcoin spot ETF purchased a total of 6,573 BTC, while miners produced only 3,150 BTC. This means that the Bitcoin purchased by the U.S. Bitcoin spot ETF is more than twice the amount produced by miners.

ChainCatcher message, crypto analyst PlanB posted on platform X, stating, "The market is still consolidating, with a trading range around 60k. I can re-enter the market. Moreover, Bitcoin is in a bull market, but the rise has not yet come. Miners are still struggling to cope with the consequences of the halving. We need the Bitcoin price to double to kickstart the bull market."Crypto analyst Willy Woo commented below his tweet, "According to the current BTC pricing, only the latest models of mining machines can be profitable after the halving. As the chart shows, now is generally a good time to buy BTC (and mine with the latest generation hardware)."