Marathon Digital 主導比特幣挖礦，確保機構投資者信心

儘管即將到來的減半事件，全球最大的公開交易的比特幣礦業公司馬拉松數位控股公司（Marathon Digital Holdings）見證了機構投資者興趣的激增。截至最新數據，機構投資者持有馬拉松38.9%的大量股份，其中先鋒集團、貝萊德、Jane Street、摩根士丹利和道富銀行成為前五名股東，合計持有該公司超過22%的股份。

Marathon Digital Dominates Bitcoin Mining, Boasting Institutional Investor Confidence

Marathon Digital 主導比特幣挖礦，贏得機構投資者信心

Marathon Digital Holdings (MARA), the world's largest publicly traded Bitcoin (BTC) mining company, has witnessed a steady influx of institutional investment despite the impending Bitcoin halving event in April.

儘管四月即將發生比特幣減半事件，全球最大的公開交易的比特幣 (BTC) 礦業公司 Marathon Digital Holdings (MARA) 仍見證了機構投資的穩定湧入。

Institutional investors now hold a significant 38.9% stake in Marathon's outstanding shares, totaling 104,212,740 out of 268 million. These figures unveil the five largest institutional shareholders in the BTC mining industry:

機構投資者目前持有馬拉松已發行股票 38.9% 的股份，總計 2.68 億股中的 104,212,740 股。這些數字揭示了比特幣挖礦業的五家最大機構股東：

• Vanguard: 23.47 million shares (8.76%)
• BlackRock: 17.19 million shares (6.42%)
• Jane Street: 8.47 million shares (3.16%)
• Morgan Stanley: 6.27 million shares (2.34%)
• State Street: 5.42 million shares (2.02%)

Collectively, these five institutional investors hold 60,837,405 shares, representing 22.7% of Marathon Digital Holdings.

先鋒集團：2,347萬股（8.76%）貝萊德：1,719萬股（6.42%）Jane Street：847萬股（3.16%）摩根士丹利：627萬股（2.34%）道富銀行：542萬股（2.02%）這五家機構投資人持有馬拉松數位控股60,837,405股，佔馬拉松數位控股的22.7%。

As the leading player in BTC mining, Marathon boasts a market capitalization of $5.58 billion, according to CompaniesMarketCap.

根據 CompaniesMarketCap 的數據，作為 BTC 挖礦領域的領導企業，Marathon 的市值為 55.8 億美元。

Halving Impact on BTC Miners and Institutional Investors

對比特幣礦工和機構投資者的影響減半

Understanding the impact of the Bitcoin halving on mining companies and institutional investors is crucial. These businesses generate revenue primarily through BTC mining and block rewards, including fees and subsidies. Miners compete to secure the next valid block using proof-of-work, measured by hashing power.

了解比特幣減半對礦業公司和機構投資者的影響至關重要。這些業務主要透過比特幣挖礦和區塊獎勵（包括費用和補貼）產生收入。礦工們利用工作量證明（透過哈希能力來衡量）競爭以確保下一個有效區塊的安全。

Every four years, or after 210,000 blocks, Bitcoin's block reward is halved. Currently, over 98% of block rewards are subsidies, amounting to approximately 900 BTC daily.

每四年，或 21 萬個區塊之後，比特幣的區塊獎勵就會減半。目前，超過 98% 的區塊獎勵都是補貼，每天約 900 BTC。

The halving could potentially halve the revenue of BTC mining companies if the price of BTC remains constant. Consequently, stocks like MARA may exhibit a correlation with the price of Bitcoin, potentially impacting earnings after the halving event.

如果比特幣價格保持不變，減半可能會使比特幣礦業公司的收入減半。因此，像 MARA 這樣的股票可能會表現出與比特幣價格的相關性，這可能會影響減半事件後的收益。

Institutional investors' increased interest in Marathon despite the halving suggests their belief in the long-term prospects of BTC mining and the company's ability to navigate this market dynamic. Marathon's strong financial position and commitment to innovation position it well to capitalize on the opportunities presented by the halving and continue to attract institutional investment.

儘管減半，機構投資者對 Marathon 的興趣仍在增加，這表明他們對 BTC 挖礦的長期前景以及該公司駕馭這一市場動態的能力充滿信心。馬拉松強大的財務狀況和對創新的承諾使其能夠充分利用減半帶來的機會並繼續吸引機構投資。