瑪拉（Mara）帶領美國比特幣採礦股票捲土重來

2月份艱難時期，美國比特幣採礦股在彈跳，馬拉領導了這一指控。但是，儘管最近有反彈

U.S. Bitcoin mining stocks are recovering after a turbulent February, with Marathon Digital Holdings (NASDAQ:MARA) leading the charge, aiming to recoup some of its steepest losses.

在2月動盪不安的2月，美國比特幣採礦股正在恢復，馬拉松數字控股（NASDAQ：MARA）領導了這一指控，旨在彌補其最嚴重的損失。

As of Wednesday, MARA stock is surging more than 8%. The stock fell 37% last month as Bitcoin pulled back from its highs. However, the company reported strong production numbers for February.

截至週三，Mara股票飆升超過8％。該股票上個月下跌了37％，因為比特幣從其高點退回。但是，該公司報告了2月的強大生產數字。

“In February, our Bitcoin production per day increased by 4% compared to January, and our energized hash rate ticked up slightly from the previous month as we completed another 40-megawatt data center in Ohio and began installing over 10,000 S21 Pro immersion miners,” said Fred Thiel, MARA’s chairman and CEO.

弗雷德·蒂爾（Fred Thiel）董事長兼首席執行官弗雷德·泰爾（Fred Thiel）表示：“與一月相比，我們每天的比特幣產量增長了4％，而我們的充滿活力的哈希速率比上個月略微提高，因為我們在俄亥俄州完成了另一個40兆瓦的數據中心，並開始安裝10,000多個S21 Pro Immersion礦工。”

“This brought our total energized hash rate to approximately 23 P هش and will increase our annualized Bitcoin production capacity to over 1,300 Bitcoin per year. We are also planning to install an additional 10,000 S21 Pro miners at the Ohio facility, which will further expand our hash rate and Bitcoin production.”

“這使我們的總能量哈希速率達到了大約23 p〜23，我們的年化比特幣生產能力將增加到每年超過1,300個比特幣。我們還計劃在俄亥俄州的工廠安裝另外10,000個S21職業礦工，這將進一步擴大我們的哈希率和比特幣生產。”

Bitcoin mining stocks have posted significant gains this week as Bitcoin rebounded past $90,000. Bitdeer Technologies Group (NYSE:BTDR) stock is leading the way, surging 14% on Monday alone.

比特幣採礦股本週的收益很大，比特幣反彈超過90,000美元。 Bitdeer Technologies Group（NYSE：BTDR）的股票正處於領先地位，僅週一僅在14％。

Meanwhile, Hut 8 Corp (TOR:HUT) and Canaan Inc. (NASDAQ:CAN) each rose 12%, while Riot Platforms (NYSE:RIOT) advanced 11%, briefly touching $10. On the other hand, CleanSpark Inc. (NASDAQ:CLSK) and MARA both gained more than 11% on Monday, with the latter extending its rally throughout the week.

同時，Hut 8 Corp（TOR：HUT）和Canaan Inc.（NASDAQ：CAN）每個上漲12％，而Riot Platforms（NYSE：Riot）提高了11％，短暫觸及10美元。另一方面，CleanSpark Inc.（NASDAQ：CLSK）和MARA都在周一上漲了11％以上，後者在整個一周中延長了集會。

Moreover, Riot Platforms is also experiencing strong momentum, increasing by 11% to top $10. Core Scientific (NASDAQ:CORZ) saw more modest gains, climbing 5.3%.

此外，Riot Platforms還經歷了強勁的動力，增長了11％，提高了10美元。核心科學（納斯達克股票代碼：CORZ）的收益更高，攀升5.3％。

While Bitcoin’s rally has provided short-term relief for miners, analysts warn that uncertainty remains over whether the momentum will continue, considering the macroeconomic challenges.

儘管比特幣的集會為礦工提供了短期的緩解，但分析師警告說，考慮到宏觀經濟挑戰，這種勢頭是否會繼續下去。

JPMorgan analysts noted that the combined market capitalization of 14 major public miners dropped by 22%—or $6 billion—last month as Bitcoin slid from around $25,000 to below $20,000.

摩根大通分析師指出，14個主要公共礦工的總市值下降了22％（或60億美元），因為比特幣從約25,000美元下滑至低於20,000美元以下。

The bank’s analysts also pointed out a decline in miner revenue. Bitcoin miners earned an average of $54,300 per exahash in daily block rewards, a 5% decrease from the previous month.

該銀行的分析師還指出，礦工收入下降。比特幣礦工的平均每日獎勵獎金平均每天賺取54,300美元，比上個月下降5％。

However, despite the downturn, miners remain a focus for investors interested in the cryptocurrency sector. As Bitcoin continues to recover, there is potential for further gains in miner stocks.

但是，儘管經歷了低迷，礦工仍然是對加密貨幣行業感興趣的投資者的重點。隨著比特幣繼續恢復，礦工股票有可能進一步收益。

However, it’s worth noting that the energy-intensive nature of mining means that sustaining profitability becomes more difficult when Bitcoin’s price declines.

但是，值得注意的是，採礦的能源密集型性質意味著，當比特幣的價格下跌時，維持盈利能力變得更加困難。

Furthermore, Trump’s trade policies could introduce additional risks for U.S. miners. His tariffs on Canada and Mexico have contributed to a “risk-off” sentiment among investors, leading to a pullback from volatile assets, such as Bitcoin and mining stocks.

此外，特朗普的貿易政策可能會給美國礦工帶來額外的風險。他對加拿大和墨西哥的關稅促成了投資者的“冒險”情緒，從而導致比特幣和採礦股等動蕩的資產的回調。

In response, some mining companies have begun pivoting to AI computing by repurposing their data centers to support machine learning workloads.

作為回應，一些礦業公司通過重新利用其數據中心來支持機器學習工作負載，從而開始旋轉AI計算。

However, that shift faces new hurdles—particularly following the launch of Deepseek, a Chinese AI model that debuted in late January and disrupted the sector.

但是，這種轉變面臨著新的障礙 - 尤其是在DeepSeek推出的中國AI模型之後，該模型於1月下旬首次亮相並破壞了該行業。

JPMorgan analysts noted that Deepseek’s emergence—with significantly lower capital investment than U.S. AI giants like OpenAI, Microsoft, and Google—has intensified competition in the AI space, making it harder for Bitcoin miners to capitalize on the industry’s rapid growth.

摩根大通（JPMorgan）分析師指出，DeepSeek的出現（與OpenAI，Microsoft和Google這樣的美國AI巨頭的資本投資都顯著低得多，已經加劇了AI領域的競爭，這使得比特幣礦工更難利用該行業的快速增長。

As Bitcoin’s rally pulls miners out of the worst of their losses, the sector remains caught between volatile crypto markets and an uncertain economic backdrop.

隨著比特幣的拉力賽將礦工從最嚴重的損失中拉出來，該行業仍在揮發性加密市場和不確定的經濟背景之間陷入困境。