ChainCatcher news, the Ola core ZKP verification network Massive has returned after completing its first round of TGE and is now live on the Android version. Users will start mining OLA tokens through ZKP verification on December 1, receiving daily settlement mining rewards and additional bonuses.According to the Ola token economic model, Ola has reserved 20% of the token supply for this module, with approximately 420M OLA reward pool to be distributed to mining users, gradually released at a rate of 12% per year.The iOS version of Ola Massive and the PC mining version will be launched in December. Additionally, a "multi-mining" feature will be introduced in the future, allowing users to mine multiple project tokens simultaneously within the app to earn more rewards.

ChainCatcher news, Bitcoin mining company BitFuFu reported that total revenue for the third quarter of 2024 increased by 47.5% compared to last year, reaching $90.3 million. Among this, revenue from cloud mining solutions was $68.9 million, accounting for 76.3% of total revenue, a 51.4% increase from $45.5 million in the same period of 2023; revenue from Bitcoin self-mining operations was $20.5 million, accounting for 22.7% of total revenue, a 40.4% increase from $14.6 million in the same period of 2023. As of September 30, 2024, the total balance of cash, cash equivalents, and digital assets was $142.7 million.

ChainCatcher news, according to CoinDesk, JPMorgan Chase (JPM) stated in a research report on Friday that Bitcoin (BTC) daily mining revenue and gross profit have declined for the fourth consecutive month in October.JPMorgan estimates that the gross profit from Bitcoin's daily block rewards in October decreased by 2%, reaching the "lowest level on record." On the positive side, transaction fees surged to 60% of block rewards by the end of the month, providing some relief for hash prices.

ChainCatcher news, according to Cointelegraph, the U.S. Department of Justice and the U.S. Securities and Exchange Commission (SEC) have informed the U.S. Supreme Court that the class action lawsuit accusing Nvidia of misleading cryptocurrency miners during sales should be allowed to proceed.Since 2018, Nvidia has been in a legal battle with investor groups, and the case has now reached the U.S. Supreme Court.In a brief filed on October 2, U.S. Acting Attorney General Elizabeth Prelogar and SEC senior attorney Theodore Weiman argued that the lawsuit "provides sufficient detail" to allow it to continue after being dismissed in district court, adding that the Supreme Court should greenlight the restoration of the lawsuit through the appellate court.The brief further stated, "Valuable private litigation is an important complement to the criminal prosecutions and civil enforcement actions of the Department of Justice and the SEC."

ChainCatcher news, according to Jinshi reports, based on market news, the U.S. Supreme Court has agreed to consider increasing the difficulty for shareholders to file securities fraud lawsuits by hearing a case regarding NVIDIA (NVDA.O) cryptocurrency mining revenue.

ChainCatcher news, according to The Block, Bitcoin mining company Bitfarms has released its latest monthly production data, reporting a profit of 156 bitcoins in May, a decrease of 42% from the previous month and a decline of 66% compared to the same period last year. In terms of profits, the company sold 136 bitcoins, generating total revenue of $8.9 million (down from $16.1 million in April), which is part of the company's regular capital management process.The total amount of bitcoins held in Bitfarm's treasury has increased to 850, valued at $57.2 million based on the Bitcoin price of $67,300 as of May 31. The company stated that the average of 24.5 bitcoins earned per EH/s has decreased by 45% compared to the previous month, as May was the first full month of "post-halving economics." Based on the Bitcoin price of $67,300 as of May 31, the average daily earnings of 5 bitcoins are approximately equivalent to $340,000 per day.

According to ChainCatcher, The Block reports that the latest data from crypto research and analytics firm Kaiko shows that miners are facing significant selling pressure as Bitcoin mining revenues and transaction fees decline.Bitcoin miners' income primarily comes from two sources: mining rewards and transaction fees. However, due to the Bitcoin halving in April (which reduced the block reward from 6.25 BTC to 3.125 BTC), miners have had to sell Bitcoin to cover costs. Kaiko researchers noted in their report that halving events typically prompt miners to sell BTC, as the mining process requires substantial expenditures.Additionally, another source of income for miners, transaction fees, is also on a downward trend. Data from the first week of May indicates that miners' profits from transaction fees are lower than their mining revenues. Analysts believe that, in the current environment of declining market liquidity, miners' Bitcoin sales could have a significant impact on the crypto market. For example, Marathon Digital holds Bitcoin worth $1.1 billion, and selling even a small portion could trigger severe market volatility.

ChainCatcher news, according to News.bitcoin, in February, Bitcoin miners mined a total of 4,446 blocks, earning $1.39 billion in revenue, of which $71 million came from on-chain transaction fees, a significant decrease from $133 million in January, and well below $337 million in December.Despite the decrease in fees collected in February, Bitcoin mining revenue increased by $40 million compared to January. Since February 25, 2024, the hash price per petahash has surged above the $100 mark.

ChainCatcher news, encrypted trader Ash Crypto announced on social media that Bitcoin's daily mining revenue reached $44 million, setting a historical record.In response, Zhao Changpeng stated, "Bitcoin is the greatest business model of all time. The value it creates is immense for the creators (even though I believe he will never move/use these coins), miners, other industry participants, and holders."

According to ChainCatcher news and The Block Data, Bitcoin mining revenue reached $760 million in June, a decrease of about 17% month-over-month. Additionally, Ethereum block validator revenue decreased by 29% month-over-month to $112 million in June, with transaction fees amounting to $29.4 million. (source link)

ChainCatcher news, Canaan Creative announced its unaudited financial report for the first quarter of 2023, with first-quarter revenue of $55.2 million, compared to $58.3 million in the fourth quarter of 2022 and $201.8 million in the same period of 2022.Mining revenue was $11.1 million, an increase of 3.3% from $10.7 million in the fourth quarter of 2022 and an increase of 130.2% from $4.8 million in the same period of 2022. The quarter-on-quarter growth was mainly driven by the rebound in Bitcoin prices. The year-on-year growth was primarily attributed to the increase in computing power that powers mining. (source link)

ChainCatcher news, according to data compiled by The Block Research, Bitcoin mining revenue fell by 19.9% in November to approximately $472.64 million.Most of the Bitcoin mining revenue comes from block reward subsidies ($460.32 million), with only a small portion coming from transaction fees ($12.32 million). Last month, the share of Bitcoin transaction fees in total revenue slightly increased to around 3%. (source link)

Chain Catcher news, The Block data shows that with the completion of the Ethereum merge, the income of Ethereum miners and staking validators in September was approximately $406.86 million, a month-on-month decrease of 51.7%. Most of the income came from miner subsidies ($298.5 million), with a small portion from staking income ($72.02 million), transaction fees ($22.28 million), and block rewards ($12.7 million). (Source link)