比特幣減半後挖礦成本預計將飆升

Coinshares 的一份新報告預測，由於即將到來的減半，比特幣的生產成本將大幅飆升，電力和整體生產費用可能會增加一倍。該報告估計，目前上市礦業公司每枚比特幣的平均生產成本為 53,000 美元。它預測，由於無利可圖的挖礦業務關閉，減半後哈希率將急劇下降 10%。在能源安全地點轉向人工智慧優化和整合被視為應對成本上升的潛在緩衝。

Bitcoin Mining Costs Surge Precipitated by Halving: Industry Reacts with Strategic Shifts

減半導致比特幣挖礦成本飆升：產業做出策略轉變

A comprehensive report from CoinShares has unveiled a sobering projection for Bitcoin (BTC) mining costs following the impending halving. The report predicts a substantial increase, with electricity and overall production costs potentially doubling in the wake of the halving.

CoinShares 的一份綜合報告公佈了即將到來的減半後比特幣 (BTC) 挖礦成本的令人警醒的預測。報告預測，減半後電力和整體生產成本可能會大幅增加，增加一倍。

Rising Costs and the Halving Challenge

成本上升與減半挑戰

The analysis, led by James Butterfill, Head of Research at CoinShares, identifies the potential 10% drop in the hash rate as a significant concern. With mining rewards reduced by half, miners may be compelled to discontinue less profitable operations, leading to a reassessment of operational strategies.

由 CoinShares 研究主管 James Butterfill 領導的這項分析認為，哈希率可能下降 10% 是一個重大問題。隨著挖礦獎勵減少一半，礦工可能被迫停止利潤較低的業務，導致營運策略的重新評估。

"The halving will necessitate a significant increase in electricity and overall production costs, almost doubling current figures," Butterfill explained. "Miners will need to optimize energy costs, enhance mining efficiency, and negotiate favorable hardware procurement terms to mitigate these headwinds."

「減半將導致電力和整體生產成本大幅增加，幾乎是當前數字的兩倍，」巴特菲爾解釋道。 “礦商將需要優化能源成本，提高採礦效率，並協商有利的硬體採購條款，以減輕這些不利因素。”

Strategic Shifts and AI Integration

策略轉變與人工智慧整合

As the industry grapples with these economic pressures, a shift towards artificial intelligence (AI) at energy-secure locations is emerging as a potential buffer. Companies like BitDigital, Hive HIVE, and Hut 8 HUT are already leveraging AI to supplement income, suggesting a dual-focus strategy that could become more prominent across the sector.

隨著該行業應對這些經濟壓力，在能源安全地區向人工智慧 (AI) 的轉變正在成為潛在的緩衝。 BitDigital、Hive HIVE 和 Hut 8 HUT 等公司已經在利用人工智慧來補充收入，這表明雙焦點策略可能在整個行業中變得更加突出。

"The integration of AI operations at energy-secure sites presents a new revenue avenue, potentially cushioning the financial impact of increased mining costs," said Max Shannon, a Research Analyst involved in the study.

參與這項研究的研究分析師 Max Shannon 表示：“在能源安全地點整合人工智慧業務提供了一條新的收入途徑，可能會緩解採礦成本增加的財務影響。”

Market Dynamics and Forecasting

市場動態與預測

The CoinShares team predicts a challenging environment post-halving, with hash prices expected to decline. This aligns with a broader trend of increased cost burdens, particularly in electricity consumption and ASIC efficiency.

CoinShares 團隊預測減半後的環境充滿挑戰，哈希值預計將下降。這符合成本負擔增加的更廣泛趨勢，特別是在電力消耗和 ASIC 效率方面。

"Our model anticipates a hash rate increase to 700 Exahash by early 2025, but the post-halving period could see a reduction to about 630 Exahash due to the shutdown of unprofitable mining units," noted Alex Schmidt, Index Fund Manager at CoinShares.

CoinShares 指數基金經理 Alex Schmidt 指出：“我們的模型預計到 2025 年初，算力將增至 700 Exahash，但由於關閉不盈利的礦機，減半後的算力可能會減少至約 630 Exahash。”

The report also highlights a growing trend towards relocating Bitcoin mining operations to stranded energy sites, which offer more sustainable energy solutions.

該報告還強調了將比特幣挖礦業務轉移到擱淺能源地點的日益增長的趨勢，這提供了更永續的能源解決方案。

"This shift not only helps in reducing the carbon footprint of mining operations but also enhances the overall profitability by lowering energy costs," added Satish Patel, an Investment Analyst at CoinShares.

CoinShares 投資分析師薩蒂什·帕特爾 (Satish Patel) 補充道：“這種轉變不僅有助於減少採礦作業的碳足跡，還可以通過降低能源成本來提高整體盈利能力。”

Insights at Benzinga's Future of Digital Assets Event

Benzinga 數位資產未來活動的見解

These findings will be a key topic of discussion at Benzinga's upcoming Future of Digital Assets event on November 19, where industry leaders will gather to examine the implications of these trends for the global cryptocurrency market.

這些發現將成為 Benzinga 即將於 11 月 19 日舉行的數位資產未來活動的討論主題，產業領袖將齊聚一堂，研究這些趨勢對全球加密貨幣市場的影響。