According to sell short research firm S3 Partners, short sales of bitcoin mining stocks have surged 50% in the past 30 days to $4.60 billion. This is the highest level in 2024. Shares of bitcoin miners Riot, Marathon Digital and CleanSpark have risen 86%, 55% and 73% respectively since September, far outpacing bitcoin's gains. Matthew Unterman, managing director of S3 Partners, said he believes such a rapid rise could trigger a sell short squeeze and lead to market turmoil.