According to ChainCatcher, short selling research firm S3 Partners said that in the past 30 days, short selling of Bitcoin mining stocks has soared 50% to $4.6 billion.

This is the highest level in 2024. The share prices of Bitcoin mining companies such as Riot, Marathon Digital and CleanSpark have risen by 86%, 55% and 73% respectively since September, far higher than the increase in Bitcoin.

Matthew Unterman, managing director of S3 Partners, said that he believes that such a rapid rise may trigger a short squeeze and cause market turmoil.