比特币挖矿行业在减半事件后发生转变

2024 年 4 月第四次比特币减半促使矿业公司在区块奖励减少的情况下探索新的收入来源。他们正在囤积比特币，预计减半后价格会上涨。其他策略包括扩展到人工智能计算、谈判有利的硬件合同、寻求替代能源以及利用 Ordinals 和 Layer-2 交易费用。这些措施旨在减轻激励削减的影响并保持盈利能力，表明技术进步和成本效益实践塑造了不断变化的采矿业格局。

Bitcoin Mining Industry Undergoes Transformation Post Halving Event

比特币挖矿行业在减半事件后经历转型

On April 19, 2024, the fourth Bitcoin halving took place, marking a significant event for the cryptocurrency mining industry. The halving, which occurs every four years, reduces the block reward for miners by half. This time, the reward was cut from 6.25 to 3.125 BTC, posing new challenges for mining operations.

2024年4月19日，比特币第四次减半，标志着加密货币挖矿行业的重大事件。每四年发生一次的减半将使矿工的区块奖励减少一半。此次奖励从6.25 BTC下调至3.125 BTC，给挖矿运营带来了新的挑战。

Revenue Diversification and Cost-Cutting Measures

收入多元化和成本削减措施

To offset the reduction in block rewards, mining companies have been exploring various revenue avenues and cost-cutting measures. One strategy has been stockpiling Bitcoin, with mining enterprises collectively holding over 46,000 BTC as of March 31. This hoarding behavior stems from the expectation that the price of Bitcoin will increase post-halving, as it has in previous halving events.

为了抵消区块奖励的减少，矿业公司一直在探索各种收入途径和成本削减措施。一种策略是囤积比特币，截至 3 月 31 日，矿企总共持有超过 46,000 个 BTC。这种囤积行为源于对比特币价格在减半后会上涨的预期，就像之前的减半事件一样。

Another revenue stream that mining companies are pursuing is artificial intelligence (AI) computing. Both blockchain and AI technologies require significant computing power, creating an overlap between the two industries. Several mining companies, including Hive and Hut8, have already reported revenue from AI computing, while others, such as Bit Digital, TeraWulf, and Core Scientific, are planning to expand their operations in this area.

矿业公司追求的另一个收入来源是人工智能（AI）计算。区块链和人工智能技术都需要强大的计算能力，导致两个行业之间存在重叠。包括 Hive 和 Hut8 在内的几家矿业公司已经报告了人工智能计算的收入，而 Bit Digital、TeraWulf 和 Core Scientific 等其他矿业公司正计划扩大在这一领域的业务。

In terms of cost-cutting, mining companies are relocating hardware to regions with lower energy costs. For instance, Marathon Digital has established a pilot project in Utah to harness methane from the atmosphere as an energy source. Other companies are negotiating more favorable hardware contracts, giving them the flexibility to acquire new technology and adapt to changing market conditions.

在削减成本方面，矿业公司正在将硬件转移到能源成本较低的地区。例如，马拉松数字公司在犹他州建立了一个试点项目，利用大气中的甲烷作为能源。其他公司正在谈判更优惠的硬件合同，使他们能够灵活地获取新技术并适应不断变化的市场条件。

Technological Advancements and Innovation

技术进步与创新

The Bitcoin mining industry is also witnessing advancements in hardware technology. Miners compete to create blocks by iterating random numbers, and those with the most powerful hardware have the advantage. Mining companies are therefore investing heavily in better technology to maintain their competitiveness.

比特币挖矿行业也见证了硬件技术的进步。矿工们通过迭代随机数来竞争创建区块，那些拥有最强大硬件的人拥有优势。因此，矿业公司正在大力投资更好的技术，以保持竞争力。

Moreover, the emergence of Bitcoin Ordinals and Layer-2 solutions has introduced new revenue opportunities for miners. Ordinals allow images to be stored on the Bitcoin blockchain, requiring more block space and higher transaction fees. Layer-2 solutions also utilize the Bitcoin network for settlement, increasing revenue for miners through transaction processing.

此外，比特币序号和 Layer-2 解决方案的出现为矿工带来了新的收入机会。序数允许图像存储在比特币区块链上，需要更多的区块空间和更高的交易费用。 Layer-2 解决方案还利用比特币网络进行结算，通过交易处理增加矿工的收入。

Consolidation and Evolution

整合与进化

The halving event has heightened the pressure on mining operations, leading to the expectation of consolidation within the industry. Well-financed players are likely to dominate, as the technological requirements for mining become increasingly complex. However, the industry is also poised for evolution as technological developments reshape input costs and open up new revenue streams.

减半事件加大了挖矿运营压力，引发行业整合预期。随着采矿技术要求变得越来越复杂，资金雄厚的参与者可能会占据主导地位。然而，随着技术发展重塑投入成本并开辟新的收入来源，该行业也即将发生演变。

Long-Term Outlook

长期展望

Despite the challenges posed by the halving event, the long-term prospects for Bitcoin mining remain positive. The halving mechanism is integral to the cryptocurrency's inflation control, and historically, the price of Bitcoin has tended to rise after halving events.

尽管减半事件带来了挑战，但比特币挖矿的长期前景仍然乐观。减半机制是加密货币通胀控制不可或缺的一部分，从历史上看，比特币的价格在减半事件后往往会上涨。

As technological advancements unfold and new revenue opportunities emerge, the Bitcoin mining industry is expected to continue to evolve and adapt. The halving event marks a significant milestone, but it is only one step in the ongoing development of this dynamic sector.

随着技术进步和新收入机会的出现，比特币挖矿行业预计将继续发展和适应。减半事件标志着一个重要的里程碑，但这只是这个充满活力的行业持续发展的第一步。