比特币减半后挖矿成本预计将飙升

Coinshares 的一份新报告预测，由于即将到来的减半，比特币的生产成本将大幅飙升，电力和总体生产费用可能会增加一倍。该报告估计，目前上市矿业公司每枚比特币的平均生产成本为 53,000 美元。它预测，由于无利可图的挖矿业务关闭，减半后哈希率将急剧下降 10%。在能源安全地点转向人工智能优化和集成被视为应对成本上升的潜在缓冲。

Bitcoin Mining Costs Surge Precipitated by Halving: Industry Reacts with Strategic Shifts

减半导致比特币挖矿成本飙升：行业做出战略转变

A comprehensive report from CoinShares has unveiled a sobering projection for Bitcoin (BTC) mining costs following the impending halving. The report predicts a substantial increase, with electricity and overall production costs potentially doubling in the wake of the halving.

CoinShares 的一份综合报告公布了对即将到来的减半后比特币 (BTC) 挖矿成本的令人警醒的预测。该报告预测，减半后电力和总体生产成本可能会大幅增加，增加一倍。

Rising Costs and the Halving Challenge

成本上升和减半挑战

The analysis, led by James Butterfill, Head of Research at CoinShares, identifies the potential 10% drop in the hash rate as a significant concern. With mining rewards reduced by half, miners may be compelled to discontinue less profitable operations, leading to a reassessment of operational strategies.

由 CoinShares 研究主管 James Butterfill 领导的这项分析认为，哈希率可能下降 10% 是一个重大问题。随着挖矿奖励减少一半，矿工可能被迫停止利润较低的业务，从而导致运营策略的重新评估。

"The halving will necessitate a significant increase in electricity and overall production costs, almost doubling current figures," Butterfill explained. "Miners will need to optimize energy costs, enhance mining efficiency, and negotiate favorable hardware procurement terms to mitigate these headwinds."

“减半将导致电力和总体生产成本大幅增加，几乎是当前数字的两倍，”巴特菲尔解释道。 “矿商将需要优化能源成本，提高采矿效率，并协商有利的硬件采购条款，以减轻这些不利因素。”

Strategic Shifts and AI Integration

战略转变和人工智能整合

As the industry grapples with these economic pressures, a shift towards artificial intelligence (AI) at energy-secure locations is emerging as a potential buffer. Companies like BitDigital, Hive HIVE, and Hut 8 HUT are already leveraging AI to supplement income, suggesting a dual-focus strategy that could become more prominent across the sector.

随着该行业应对这些经济压力，在能源安全地区向人工智能 (AI) 的转变正在成为潜在的缓冲。 BitDigital、Hive HIVE 和 Hut 8 HUT 等公司已经在利用人工智能来补充收入，这表明双焦点战略可能会在整个行业变得更加突出。

"The integration of AI operations at energy-secure sites presents a new revenue avenue, potentially cushioning the financial impact of increased mining costs," said Max Shannon, a Research Analyst involved in the study.

参与这项研究的研究分析师马克斯·香农 (Max Shannon) 表示：“在能源安全地点整合人工智能业务提供了一条新的收入途径，可能会缓解采矿成本增加带来的财务影响。”

Market Dynamics and Forecasting

市场动态与预测

The CoinShares team predicts a challenging environment post-halving, with hash prices expected to decline. This aligns with a broader trend of increased cost burdens, particularly in electricity consumption and ASIC efficiency.

CoinShares 团队预测减半后的环境充满挑战，哈希值预计将下降。这符合成本负担增加的更广泛趋势，特别是在电力消耗和 ASIC 效率方面。

"Our model anticipates a hash rate increase to 700 Exahash by early 2025, but the post-halving period could see a reduction to about 630 Exahash due to the shutdown of unprofitable mining units," noted Alex Schmidt, Index Fund Manager at CoinShares.

CoinShares 指数基金经理 Alex Schmidt 指出：“我们的模型预计到 2025 年初，算力将增至 700 Exahash，但由于关闭不盈利的矿机，减半后的算力可能会减少至约 630 Exahash。”

The report also highlights a growing trend towards relocating Bitcoin mining operations to stranded energy sites, which offer more sustainable energy solutions.

该报告还强调了将比特币挖矿业务转移到搁浅能源地点的日益增长的趋势，这提供了更可持续的能源解决方案。

"This shift not only helps in reducing the carbon footprint of mining operations but also enhances the overall profitability by lowering energy costs," added Satish Patel, an Investment Analyst at CoinShares.

CoinShares 投资分析师萨蒂什·帕特尔 (Satish Patel) 补充道：“这种转变不仅有助于减少采矿作业的碳足迹，还可以通过降低能源成本来提高整体盈利能力。”

Insights at Benzinga's Future of Digital Assets Event

Benzinga 数字资产未来活动的见解

These findings will be a key topic of discussion at Benzinga's upcoming Future of Digital Assets event on November 19, where industry leaders will gather to examine the implications of these trends for the global cryptocurrency market.

这些发现将成为 Benzinga 即将于 11 月 19 日举行的数字资产未来活动的讨论主题，行业领袖将齐聚一堂，研究这些趋势对全球加密货币市场的影响。