News

PANews reported on March 6 that the short-selling firm Culper Research announced it is shorting Ethereum and ETH-related securities, including BMNR. The firm believes that after the Fusaka upgrade in December 2025, the ETH token economic model has been damaged. The upgrade raised the Gas limit from 45 million to 60 million, which was expected to reduce Gas fees by 10-30%, but in reality, the fees dropped by about 90%. Vitalik and validators' calculations regarding L1 demand elasticity were based on outdated models, with errors ranging from 3 to 9 times. Culper refuted Tom Lee's bullish view. Lee cited the growth of active addresses and transaction volume as evidence of ETH's fundamental strengthening and institutional adoption, but Culper's analysis shows that on-chain data from January 2025 to February 2026 indicates that these activities were actually driven by a surge of low-value transactions caused by address poisoning and dust attacks. After the Fusaka upgrade, 95% of new wallets were created for dust attacks, and the number of poisoning attacks increased more than threefold, accounting for over 50% of ETH transaction growth and currently representing 22.5% of all ETH transactions. Culper claims that Vitalik is well aware of this and is selling off, predicting that ETH will decline further.

PANews March 6th news, according to CloverPool data, Bitcoin mining difficulty was adjusted today at 1:28 (UTC+8) at block height 939,456, with the mining difficulty increasing by 0.45% to 145.04 T. Currently, the average network hashrate over the past seven days is 1.02 ZH/s.

Golden Ten Data reported on March 6 that today (March 6), Asia's largest independently designed and constructed cylindrical "offshore oil and gas factory"—the Kaipingnan Oilfield Development Project cylindrical floating production storage and offloading (FPSO) unit—has commenced construction in Qingdao. The cylindrical FPSO unit under construction this time has a full load displacement of over 170,000 tons, a maximum oil storage capacity of 122,000 cubic meters, a process deck outer diameter of 110 meters, and a deck area equivalent to 23 standard basketball courts. Both the hull weight and the deck outer diameter rank first among similar equipment worldwide.