Hut 8 首席执行官预测比特币矿业破产率将下降

Hut 8 首席执行官预测，由于财务策略的改进，比特币挖矿破产率将会下降。导致 2022 年失败的过度杠杆化已被债务减少和更多基于股票的增长所取代。 Genoot 预计小型矿商之间的并购将会增加，只有当比特币大幅回调时才会出现困境。

Fewer Bitcoin Mining Bankruptcies Expected in the Future, Says Hut 8 CEO

Hut 8 首席执行官表示，预计未来比特币矿业破产将会减少

Hut 8 CEO Asher Genoot predicts a significant decline in Bitcoin (BTC) mining company bankruptcies in the years to come, attributing the anticipated reduction to the lessons learned from the industry's difficulties in 2022.

Hut 8 首席执行官 Asher Genoot 预测，未来几年比特币 (BTC) 矿业公司破产数量将大幅下降，并将这一预期下降归因于从 2022 年行业困难中吸取的教训。

During an interview with Bloomberg on April 3, Genoot emphasized that the primary factor driving mining bankruptcies in 2022 was excessive leverage coupled with an inability to cope with escalating energy costs.

4 月 3 日，Genoot 在接受彭博社采访时强调，2022 年导致矿业破产的主要因素是杠杆过高，加上无力应对不断上涨的能源成本。

"A major contributor to bankruptcies and distressed assets in the mining sector in 2022 was the high leverage incurred in 2021," stated Genoot. "Many companies expanded rapidly with debt, which became unsustainable in 2022 when Bitcoin prices declined and energy prices surged."

Genoot 表示：“2022 年采矿业破产和不良资产的一个主要原因是 2021 年出现的高杠杆率。” “许多公司靠债务迅速扩张，但到了 2022 年，当比特币价格下跌、能源价格飙升时，这种债务就变得不可持续了。”

Prominent Bitcoin miners such as Compute North, Celsius Mining, and Core Scientific succumbed to bankruptcy during the 2022 crypto winter. However, Genoot noted that since then, Bitcoin miners have generally adopted a more prudent approach, relying less on leverage and securing greater amounts of debt-free equity capital.

Compute North、Celsius Mining 和 Core Scientific 等著名比特币矿工在 2022 年加密货币寒冬期间破产。然而，Genoot 指出，从那时起，比特币矿商普遍采取了更加谨慎的做法，减少对杠杆的依赖，并获得更多的无债务股权资本。

He anticipates an increase in merger and acquisition (M&A) activity among smaller-scale Bitcoin miners, believing this consolidation will further contribute to a lower bankruptcy rate.

他预计小型比特币矿商的并购活动将会增加，并相信这种整合将进一步降低破产率。

Genoot cautioned that Bitcoin would likely need to retrace to $30,000 or $40,000 before a significant influx of M&A activity or "distress opportunities" would emerge.

Genoot 警告称，在大量并购活动或“困境机会”出现之前，比特币可能需要回撤至 30,000 美元或 40,000 美元。

The impending Bitcoin halving, scheduled to occur on April 20 with the mining of block 840,000, will witness a reduction in miner rewards from 6.25 BTC ($412,000) to 3.125 BTC ($211,000) at current prices.

即将到来的比特币减半预计将于 4 月 20 日进行，届时将开采 840,000 个区块，按当前价格计算，矿工奖励将从 6.25 BTC（412,000 美元）减少至 3.125 BTC（211,000 美元）。

Genoot emphasized that investors will gravitate towards "large-scale operators with the lowest marginal cost of production" in the wake of the halving. He cited his own December 2022 merger between US Bitcoin Corp (USBTC) and Hut 8 Mining Corp's operations as an example of this trend.

Genoot 强调，减半后投资者将倾向于“边际生产成本最低的大型运营商”。他以 2022 年 12 月美国比特币公司 (USBTC) 与 Hut 8 Mining Corp 的业务合并为例，作为这一趋势的例子。

The combined entity, now registered as Hut 8 Corp in Miami, Florida, holds over 9,100 Bitcoin, valued at approximately $600 million on its balance sheet.

合并后的实体目前在佛罗里达州迈阿密注册为 Hut 8 Corp，持有超过 9,100 个比特币，其资产负债表上的价值约为 6 亿美元。

Bitcoin is currently priced at $66,000, with the halving event just 17 days away.

比特币目前价格为 66,000 美元，距离减半事件仅有 17 天。

Historically, Bitcoin has established new all-time highs within 6-12 months following a halving event, a pattern observed in 2012, 2016, and 2020. However, this time, Bitcoin has defied the trend by surpassing its previous all-time high of $68,990 on March 5, approximately 46 days before the halving.

从历史上看，比特币在减半事件后的 6-12 个月内就创下了历史新高，这种模式曾在 2012 年、2016 年和 2020 年出现过。然而，这一次，比特币却逆势而上，超越了之前的历史新高3 月 5 日，即减半前约 46 天，价格为 68,990 美元。

Industry experts attribute Bitcoin's atypical recent price movements to the emergence of spot Bitcoin exchange-traded funds (ETFs) in the United States. These ETFs have facilitated broader access to Bitcoin investments, potentially contributing to the current price surge.

行业专家将比特币近期非典型的价格走势归因于美国现货比特币交易所交易基金（ETF）的出现。这些 ETF 促进了更广泛的比特币投资，可能导致当前的价格飙升。