比特币减半事件将矿工奖励减半

预计下一次比特币减半发生在 2024 年 4 月 20 日，矿工奖励将从 6.25 BTC 减少至 3.125 BTC，从而显着影响新比特币的流通。由于稀缺性增加以及可能将旧矿机迁移到海外以降低运营成本，尤其是在电价较低的地区，预计这一事件将影响比特币的价格。

Bitcoin Halving Event to Cut Miner Rewards in Half

比特币减半事件将矿工奖励减半

The next Bitcoin halving event is anticipated to occur on or around April 20, 2024. These halving events typically occur approximately every four years, although the precise date may fluctuate slightly due to minor variations in block creation times on the Bitcoin network. Bitcoin halvings hold significant implications as they directly affect the rate at which new Bitcoins enter circulation.

下一次比特币减半事件预计将在 2024 年 4 月 20 日左右发生。这些减半事件通常大约每四年发生一次，尽管由于比特币网络上区块创建时间的微小变化，确切的日期可能会略有波动。比特币减半具有重大影响，因为它们直接影响新比特币进入流通的速度。

During the upcoming halving, the reward that miners receive for successfully validating transactions and adding blocks to the Bitcoin blockchain will be reduced by half, from the current 6.25 BTC to 3.125 BTC. This mechanism is inherently programmed into Bitcoin's protocol to enforce its finite supply, with a maximum of 21 million Bitcoins ever to be created.

在即将到来的减半期间，矿工成功验证交易并向比特币区块链添加区块所获得的奖励将减少一半，从目前的 6.25 BTC 减少到 3.125 BTC。这种机制本质上被编程到比特币协议中，以强制其有限供应，最多可创建 2100 万个比特币。

Halvings have the potential to influence Bitcoin's price due to increased scarcity. As the difficulty of acquiring new Bitcoins increases, the existing supply becomes proportionally more scarce. If demand for Bitcoin remains steady or grows, this heightened scarcity could exert upward pressure on its price. Additionally, halvings contribute to the long-term security of the Bitcoin network by maintaining the profitability of the mining process. This sustained incentive encourages miners to dedicate their resources, thereby safeguarding Bitcoin's integrity and security.

由于稀缺性增加，减半有可能影响比特币的价格。随着获取新比特币的难度增加，现有的供应量也相应变得更加稀缺。如果对比特币的需求保持稳定或增长，这种稀缺性的加剧可能会对其价格产生上行压力。此外，减半通过维持采矿过程的盈利能力，有助于比特币网络的长期安全。这种持续的激励鼓励矿工奉献他们的资源，从而维护比特币的完整性和安全性。

Bloomberg reported on February 27, 2024, that as the next Bitcoin halving approaches, numerous older mining computers in the United States are slated for decommissioning and subsequent resale and relocation overseas. SunnySide Digital, a Colorado-based wholesaler, is preparing its facility to refurbish and export these machines to regions with significantly lower electricity costs. With electricity constituting the primary expense for miners, publicly traded giants such as Marathon Digital Holdings (NASDAQ: MARA) and Riot Platforms (NASDAQ: RIOT) face pressure to maximize efficiency to maintain profitability. Older machines may simply be unable to generate sufficient Bitcoin revenue to justify operating expenses in the United States. Taras Kulyk, CEO of SunnySide Digital, disclosed that they have sold machines to buyers in Ethiopia, Tanzania, Paraguay, and Uruguay. Luxor Technology estimates that approximately 600,000 S19 series machines, a widely utilized model, are being relocated overseas.

彭博社 2024 年 2 月 27 日报道，随着下一次比特币减半的临近，美国许多旧矿机将退役，随后转售和搬迁到海外。总部位于科罗拉多州的批发商 SunnySide Digital 正在准备其设施，以翻新这些机器并将其出口到电力成本显着降低的地区。由于电力是矿工的主要开支，马拉松数字控股公司（纳斯达克股票代码：MARA）和Riot Platforms（纳斯达克股票代码：RIOT）等上市巨头面临着最大限度提高效率以维持盈利能力的压力。较旧的机器可能根本无法产生足够的比特币收入来证明美国运营费用的合理性。 SunnySide Digital首席执行官Taras Kulyk透露，他们已经向埃塞俄比亚、坦桑尼亚、巴拉圭和乌拉圭的买家出售了机器。 Luxor Technology估计大约有60万台S19系列机器（广泛使用的型号）正在被转移到海外。

In February 2024, Forbes reported that the Ethiopian Investment Holdings (EIH), the government's investment arm, had signed a $250 million agreement with West Data Group's Center Service PLC, a Hong Kong-based entity. This partnership aims to establish cutting-edge infrastructure dedicated to Bitcoin mining and artificial intelligence. This landmark deal, as noted by Kal Kassa, CEO for Ethiopia at Hashlabs Mining, aligns with Ethiopia's broader strategy to foster economic development through technology and attract foreign investment. With the African data center market projected to reach $5.4 billion by 2027, according to Aritzon Advisory and Intelligence, Ethiopia is positioning itself for substantial leadership in this sector.

2024 年 2 月，《福布斯》报道称，政府投资部门埃塞俄比亚投资控股公司 (EIH) 与总部位于香港的实体 West Data Group 旗下 Center Service PLC 签署了一项价值 2.5 亿美元的协议。此次合作旨在建立专用于比特币挖矿和人工智能的尖端基础设施。 Hashlabs Mining 埃塞俄比亚首席执行官 Kal Kassa 指出，这一具有里程碑意义的交易符合埃塞俄比亚通过技术促进经济发展和吸引外国投资的更广泛战略。根据 Aritzon Advisory and Intelligence 的数据，到 2027 年，非洲数据中心市场预计将达到 54 亿美元，埃塞俄比亚正在将自己定位为该领域的实质性领导者。

Bloomberg explains that miners often opt to export their older machines due to the allure of substantially lower energy prices. This potential cost reduction becomes even more critical in light of Bitcoin's halving, which could render less efficient machines unprofitable to operate in the United States. Ethan Vera of Luxor Technology believes that buyers are strategically seeking the most affordable electricity available.

彭博社解释说，由于能源价格大幅下降的诱惑，矿商经常选择出口旧机器。鉴于比特币减半，这种潜在的成本降低变得更加重要，这可能会使效率较低的机器在美国运营时无利可图。卢克索科技公司 (Luxor Technology) 的伊森·维拉 (Ethan Vera) 认为，买家正在战略性地寻求最实惠的电力。

Bloomberg notes that not all US-based miners are selling their older machines. Some, such as Nuo Xu, choose to physically relocate to regions with lower costs. Xu intends to explore options in Ethiopia, Nigeria, and other countries, hoping to reduce operating expenses, including labor and building materials. Jaran Mellerud, CEO of Hashlabs Mining, echoes this sentiment, emphasizing Ethiopia's competitive hosting fees and growing appeal to miners due to relaxed regulations.

彭博社指出，并非所有美国矿商都在出售旧机器。有些人，比如徐诺，选择搬迁到成本较低的地区。徐打算在埃塞俄比亚、尼日利亚和其他国家探索选择，希望减少包括劳动力和建筑材料在内的运营费用。 Hashlabs Mining 首席执行官贾兰·梅勒鲁德 (Jaran Mellerud) 也表达了同样的观点，他强调埃塞俄比亚具有竞争力的托管费用以及由于宽松的监管而对矿工越来越大的吸引力。

Bloomberg acknowledges potential risks for US miners operating overseas, including machine damage during transport, security concerns, and the complexities of international logistics. Publicly traded companies also face heightened scrutiny from shareholders, making relocation more complex. Sam Tabar, CEO of Bit Digital Inc., exemplifies this by revealing their practice of keeping older machines in storage in case rising Bitcoin prices make them temporarily profitable again.

彭博社承认美国矿商在海外运营存在潜在风险，包括运输过程中的机器损坏、安全问题以及国际物流的复杂性。上市公司还面临股东的严格审查，使得搬迁变得更加复杂。 Bit Digital Inc. 首席执行官 Sam Tabar 举例说明了这一点，他透露了他们将旧机器存放起来的做法，以防比特币价格上涨使他们暂时再次盈利。

Despite these challenges, the pre-halving upgrade cycle is well underway. Bloomberg highlights that Bitcoin miners have been preparing for years. The 13 largest public mining companies have reportedly invested over $1 billion in new machines since February 2023.

尽管存在这些挑战，减半前的升级周期仍在顺利进行。彭博社强调，比特币矿商已经准备多年。据报道，自 2023 年 2 月以来，13 家最大的上市矿业公司已在新机器上投资超过 10 亿美元。