美國礦工在關稅和利潤壓縮的情況下卸載BTC

公開交易的比特幣礦業公司在3月將其新礦BTC的40％以上卸載

U.S. miners sold more than 40% of their newly mined BTC in March, marking the most significant monthly sell-off since October 2024, according to an analysis by TheMinerMag.

根據Theminermag的一項分析，美國礦工在3月份出售了超過40％的新開採BTC，這是自2024年10月以來最重要的每月售罄。

The timing of these sales coincides with mounting economic uncertainty. With financial markets under pressure and costs rising across industries, many miners appear to be liquidating their reserves to stabilize their balance sheets. This wave of selling has added to the broader volatility in the crypto market. In March alone, Bitcoin dipped by 2.3%, following a steep correction of over 17% in February, per data from CoinGlass.

這些銷售的時機與日益增加的經濟不確定性相吻合。隨著金融市場的壓力和整個行業的成本上升，許多礦工似乎正在清算儲備金以穩定資產負債表。這種銷售浪潮增加了加密市場中更廣泛的波動性。僅在3月，根據Coinglass的數據，2月份的高度校正超過17％，比特幣下降了2.3％。

The challenges go far beyond price action. Bitcoin miners are grappling with rising energy costs, global trade disruptions, and increasing competition. The landscape is becoming even more difficult as U.S. trade policies ramp up pressure on supply chains. Braiins’ CMO, Kristian Csepcsar, highlighted that building mining rigs entirely in the U.S. isn’t feasible.

挑戰遠遠超出了價格行動。比特幣礦工正在努力應對不斷上升的能源成本，全球貿易中斷和不斷增長的競爭。隨著美國貿易政策加大對供應鏈的壓力，景觀變得越來越困難。布賴恩斯的CMO，克里斯蒂安CSEPCSAR，強調說，完全在美國建造採礦鑽機是不可行的。

“The U.S. doesn't make the chips, the foundry services are done in China or Taiwan, and the modules are assembled in Mexico or Canada before arriving in the U.S. for final integration,” Csepcsar explained.

CSEPCSAR解釋說：“美國不製作芯片，鑄造廠在中國或台灣進行，並且在到達美國以進行最終整合之前，將在墨西哥或加拿大組裝模塊。”

This dependence on global supply chains ties into a crucial point: Donald Trump’s proposed tariffs are raising serious concerns across the sector. Energy, a substantial portion of operational expenses, is a key target for these tariffs. These new taxes threaten to tip the scales for many U.S.-based operations.

這種對全球供應鏈的依賴與關鍵點：唐納德·特朗普的擬議關稅正在引起整個領域的嚴重關注。能源是運營支出的很大一部分，是這些關稅的關鍵目標。這些新的稅收有可能使許多基於美國的業務的規模傾斜。

Hashlabs CEO Jaran Mellerud sheds light on the potential impact of tariffs on key hardware components. With the cost of importing mining machines into the U.S. set to rise by nearly 25%, suppliers might prefer to divert equipment to regions like Finland, which are not subject to these levies.

Hashlabs首席執行官Jaran Mellerud闡明了關稅對關鍵硬件組件的潛在影響。隨著將採礦機進口到美國的成本將上升近25％，供應商可能更喜歡將設備轉移到芬蘭等地區，而芬蘭則不受這些徵稅。

In a recent post, Mellerud pointed out that if these tariffs take effect, mining in the U.S. may become financially unsustainable. This shift could create an opening for international competitors to claim a larger share of the market.

梅勒德（Mellerud）在最近的一篇文章中指出，如果這些關稅生效，美國的開採在財務上可能不可持續。這一轉變可能會為國際競爭對手提供更大份額的市場份額。

“It seems like the U.S. is pricing itself out of the Bitcoin mining market with new tariffs and energy costs being 3-4x higher than in Canada, Iceland, or Finland (which also has no tariffs). Maybe it's best to leave it to the other countries to focus on, while the U.S. can focus on other strengths.”

“似乎美國正在從比特幣採礦市場上定價，新的關稅和能源成本比加拿大，冰島或芬蘭高3-4倍（也沒有關稅）。也許最好讓其他國家專注於美國，而美國可以專注於其他實力。”

As the dust settles on March, the crypto market is coping with the weight of macroeconomic trends and U.S. trade policies.

隨著三月份的塵埃落定，加密貨幣市場正在應對宏觀經濟趨勢和美國貿易政策的重量。