Jefferies：12 月份在美国上市的比特币 (BTC) 矿商占全球网络的 25.3%

12 月份，比特币平均价格上涨 15%，超过了网络算力的增幅，挖矿盈利能力有所改善

U.S.-listed bitcoin (BTC) miners made up 25.3% of the global network in December, Jefferies said in a research note Thursday.

杰富瑞 (Jefferies) 周四在一份研究报告中表示，12 月份在美国上市的比特币 (BTC) 矿商占全球网络的 25.3%。

The bank decreased its price target for MARA Holdings (MARA) to $20 from $24, while keeping its hold rating on the stock. Shares were up 0.5% to $18.43 in early trading Friday.

该银行将 MARA Holdings (MARA) 的目标股价从 24 美元下调至 20 美元，同时维持对该股的持有评级。周五早盘交易中，该股上涨 0.5%，至 18.43 美元。

Mining profitability improved in December as the average price of bitcoin rose 15%, outpacing the 6.5% increase in the network hashrate, according to the note.

报告称，随着比特币平均价格上涨 15%，超过网络算力 6.5% 的涨幅，12 月份挖矿盈利能力有所改善。

Hashrate is the total combined computational power used to mine and process transactions on a proof-of-work blockchain, and serves as a proxy for competition in the industry and mining difficulty.

算力是用于在工作量证明区块链上挖掘和处理交易的总算力，并作为行业竞争和挖掘难度的指标。

Average daily revenue was $59,585 per exahash, a 7.1% increase from November, Jefferies said.

Jefferies 表示，平均每日收入为每 exahash 59,585 美元，较 11 月增长 7.1%。

U.S.-listed mining companies mined 3,602 bitcoin in December, compared to 3,404 the month prior, according to the bank. Of those, MARA mined the most with 890 tokens, followed by CleanSpark (CLSK) with 668, Jefferies noted.

据该银行称，12 月份美国上市矿业公司开采了 3,602 枚比特币，而上个月为 3,404 枚。 Jefferies 指出，其中，MARA 开采了最多 890 个代币，其次是 CleanSpark (CLSK)，开采了 668 个代币。

MARA’s installed hashrate remained the largest in the sector at 53.2 exahashes per second (EH/s), the note said. CleanSpark had the second-largest hashrate with 39.1 EH/s.

该报告称，MARA 的安装哈希率仍然是该行业中最大的，达到每秒 53.2 exahashes (EH/s)。 CleanSpark 拥有第二大算力，为 39.1 EH/s。

Bitcoin mining companies are set to benefit from rising prices and increased demand for the cryptocurrency, which have been largely driven by institutional interest and the launch of bitcoin exchange-traded funds (ETFs).

比特币矿业公司将受益于价格上涨和对加密货币的需求增加，这在很大程度上是由机构兴趣和比特币交易所交易基金（ETF）的推出推动的。

However, the rising hashrate could also increase competition in the industry and put pressure on mining margins, especially for smaller miners with less efficient operations.

然而，哈希率的上升也可能加剧行业竞争，并对采矿利润率造成压力，特别是对于运营效率较低的小型矿商而言。

Bitcoin’s hashrate has recovered significantly since the China mining ban last year, and is now at record highs. The increase in hashrate is driven by new mining farms coming online and the installation of more efficient mining rigs.

自去年中国采矿禁令以来，比特币的算力已显着恢复，目前已创历史新高。新矿场的上线和更高效矿机的安装推动了哈希率的增长。