減半倒數計時，前 5 名比特幣礦業巨頭堅守陣地

儘管比特幣減半即將到來，但排名前五的比特幣礦業公司仍沒有出售其比特幣。 2024 年第一季度，這些礦工賣出了約 2000 枚 BTC，達到兩年來的最低水準。這種保守的做法與他們在2023 年第四季度出售了超過7,000 BTC 形成鮮明對比。成長了30%，超過45 億美元。

Five Largest Bitcoin Mining Firms Refrain from Selling Amidst Halving Countdown

五家最大的比特幣礦業公司在減半倒數計時期間不出售比特幣

As the highly anticipated Bitcoin (BTC) halving approaches, the industry's leading mining firms have adopted a conservative stance, exhibiting a significant decline in Bitcoin sales. According to a recent report by Bitwise, the top five Bitcoin mining firms sold approximately 2,000 BTC in the first quarter of 2024, marking a two-year low. This compares starkly to the substantial 7,000 BTC sold by these firms during the fourth quarter of 2023.

隨著備受期待的比特幣（BTC）減半臨近，業界領先的礦業公司採取了保守立場，比特幣銷量大幅下降。根據 Bitwise 最近的一份報告，前五大比特幣挖礦公司在 2024 年第一季出售了約 2,000 枚比特幣，創下兩年來的新低。這與這些公司在 2023 年第四季出售的 7,000 枚 BTC 形成鮮明對比。

The impending Bitcoin halving, scheduled for the coming days, will witness a reduction in block issuance rewards from 6.25 BTC to 3.125 BTC per mined block. This significant decrease, coupled with the steadily increasing Bitcoin hash rate, has raised concerns about the profitability of mining firms post-halving.

即將到來的比特幣減半預計將在未來幾天進行，屆時區塊發行獎勵將從每個開採區塊的 6.25 BTC 減少至 3.125 BTC。這種顯著的下降，加上比特幣哈希率的穩定上升，引發了人們對減半後礦業公司獲利能力的擔憂。

Despite the potential challenges posed by the halving, Bitcoin miner revenue experienced a remarkable 30% quarter-over-quarter increase, reaching a notable high of $4.5 billion. Laurent Benayoun, CEO of Acheron Trading, expressed cautious optimism regarding the potential impact of the halving on miner revenue:

儘管減半帶來了潛在的挑戰，但比特幣礦機收入較上季成長了 30%，達到 45 億美元的顯著高點。 Acheron Trading 執行長 Laurent Benayoun 對減半對礦商收入的潛在影響表示謹慎樂觀：

"In dollar terms, it's not apparent that miners would be at a disadvantage after the halving. Quite the contrary, the decline in mining rewards is likely to be offset by an increase in network fees."

「以美元計算，礦工在減半後處於不利地位並不明顯。恰恰相反，挖礦獎勵的下降可能會被網路費用的增加所抵消。”

However, historical data indicates that Bitcoin miner revenue has consistently declined in the months following halving events. After the 2020 halving, monthly revenue dropped by 40%, while a steeper decline of over 51% was observed post-halving in 2016.

然而，歷史數據表明，比特幣礦機收入在減半事件發生後的幾個月內持續下降。 2020 年減半後，月收入下降了 40%，而 2016 年減半後下降幅度更大，超過 51%。

Amongst the top five mining firms, Marathon Digital emerged as the most prolific miner, generating over 2,500 BTC in the first quarter of 2024. However, this figure still falls short of the 4,000 BTC produced during the fourth quarter of 2023. Despite its high production, Marathon Digital also incurred the highest mining cost at $22,249 per BTC, significantly higher than Cipher Mining's average cost of $8,626 per BTC during the same period.

在排名前五名的礦業公司中，Marathon Digital 成為最多產的礦商，在2024 年第一季生產了超過2,500 BTC。很高其中，Marathon Digital 的挖礦成本也最高，為每 BTC 22,249 美元，顯著高於 Cipher Mining 同期每 BTC 8,626 美元的平均成本。

Bitcoin miners currently hold a substantial 700,000 BTC, representing approximately 3.4% of the total circulating supply. The majority of Bitcoin, or 57% (approximately 12 million), is held by individual investors. The supply of Bitcoin on exchanges is projected to be depleted within the next nine months, highlighting the growing scarcity of the digital asset.

比特幣礦工目前持有大量 70 萬BTC，約佔流通總量的 3.4%。大部分比特幣，即 57%（約 1,200 萬枚）由個人投資者持有。預計交易所上的比特幣供應將在未來九個月內耗盡，這凸顯了數位資產的日益稀缺。

As the Bitcoin halving draws near, the industry anxiously awaits its potential implications. While some miners may face challenges due to reduced block rewards, others anticipate potential gains through increased network fees. The post-halving landscape remains uncertain, but the conservative stance adopted by leading mining firms suggests a cautious approach as the industry navigates this momentous event.

隨著比特幣減半的臨近，業界焦急地等待其潛在影響。雖然一些礦工可能會因區塊獎勵減少而面臨挑戰，但其他礦工則預計透過增加網路費用可以獲得潛在收益。減半後的前景仍然不確定，但領先礦業公司採取的保守立場表明，該行業在應對這一重大事件時將採取謹慎的態度。