玛拉（Mara）带领美国比特币采矿股票卷土重来

2月份艰难时期，美国比特币采矿股在弹跳，马拉领导了这一指控。但是，尽管最近有反弹

U.S. Bitcoin mining stocks are recovering after a turbulent February, with Marathon Digital Holdings (NASDAQ:MARA) leading the charge, aiming to recoup some of its steepest losses.

在2月动荡不安的2月，美国比特币采矿股正在恢复，马拉松数字控股（NASDAQ：MARA）领导了这一指控，旨在弥补其最严重的损失。

As of Wednesday, MARA stock is surging more than 8%. The stock fell 37% last month as Bitcoin pulled back from its highs. However, the company reported strong production numbers for February.

截至周三，Mara股票飙升超过8％。该股票上个月下跌了37％，因为比特币从其高点退回。但是，该公司报告了2月的强大生产数字。

“In February, our Bitcoin production per day increased by 4% compared to January, and our energized hash rate ticked up slightly from the previous month as we completed another 40-megawatt data center in Ohio and began installing over 10,000 S21 Pro immersion miners,” said Fred Thiel, MARA’s chairman and CEO.

弗雷德·蒂尔（Fred Thiel）董事长兼首席执行官弗雷德·泰尔（Fred Thiel）表示：“与一月相比，我们每天的比特币产量增长了4％，而我们的充满活力的哈希速率比上个月略微提高，因为我们在俄亥俄州完成了另一个40兆瓦的数据中心，并开始安装10,000多个S21 Pro Immersion矿工。”

“This brought our total energized hash rate to approximately 23 P هش and will increase our annualized Bitcoin production capacity to over 1,300 Bitcoin per year. We are also planning to install an additional 10,000 S21 Pro miners at the Ohio facility, which will further expand our hash rate and Bitcoin production.”

“这使我们的总能量哈希速率达到了大约23 p〜23，我们的年化比特币生产能力将增加到每年超过1,300个比特币。我们还计划在俄亥俄州的工厂安装另外10,000个S21职业矿工，这将进一步扩大我们的哈希率和比特币生产。”

Bitcoin mining stocks have posted significant gains this week as Bitcoin rebounded past $90,000. Bitdeer Technologies Group (NYSE:BTDR) stock is leading the way, surging 14% on Monday alone.

比特币采矿股本周的收益很大，比特币反弹超过90,000美元。 Bitdeer Technologies Group（NYSE：BTDR）的股票正处于领先地位，仅周一仅在14％。

Meanwhile, Hut 8 Corp (TOR:HUT) and Canaan Inc. (NASDAQ:CAN) each rose 12%, while Riot Platforms (NYSE:RIOT) advanced 11%, briefly touching $10. On the other hand, CleanSpark Inc. (NASDAQ:CLSK) and MARA both gained more than 11% on Monday, with the latter extending its rally throughout the week.

同时，Hut 8 Corp（TOR：HUT）和Canaan Inc.（NASDAQ：CAN）每个上涨12％，而Riot Platforms（NYSE：Riot）提高了11％，短暂触及10美元。另一方面，CleanSpark Inc.（NASDAQ：CLSK）和MARA都在周一上涨了11％以上，后者在整个一周中延长了集会。

Moreover, Riot Platforms is also experiencing strong momentum, increasing by 11% to top $10. Core Scientific (NASDAQ:CORZ) saw more modest gains, climbing 5.3%.

此外，Riot Platforms还经历了强劲的动力，增长了11％，提高了10美元。核心科学（纳斯达克股票代码：CORZ）的收益更高，攀升5.3％。

While Bitcoin’s rally has provided short-term relief for miners, analysts warn that uncertainty remains over whether the momentum will continue, considering the macroeconomic challenges.

尽管比特币的集会为矿工提供了短期的缓解，但分析师警告说，考虑到宏观经济挑战，这种势头是否会继续下去。

JPMorgan analysts noted that the combined market capitalization of 14 major public miners dropped by 22%—or $6 billion—last month as Bitcoin slid from around $25,000 to below $20,000.

摩根大通分析师指出，14个主要公共矿工的总市值下降了22％（或60亿美元），因为比特币从约25,000美元下滑至低于20,000美元以下。

The bank’s analysts also pointed out a decline in miner revenue. Bitcoin miners earned an average of $54,300 per exahash in daily block rewards, a 5% decrease from the previous month.

该银行的分析师还指出，矿工收入下降。比特币矿工的平均每日奖励奖金平均每天赚取54,300美元，比上个月下降5％。

However, despite the downturn, miners remain a focus for investors interested in the cryptocurrency sector. As Bitcoin continues to recover, there is potential for further gains in miner stocks.

但是，尽管经历了低迷，矿工仍然是对加密货币行业感兴趣的投资者的重点。随着比特币继续恢复，矿工股票有可能进一步收益。

However, it’s worth noting that the energy-intensive nature of mining means that sustaining profitability becomes more difficult when Bitcoin’s price declines.

但是，值得注意的是，采矿的能源密集型性质意味着，当比特币的价格下跌时，维持盈利能力变得更加困难。

Furthermore, Trump’s trade policies could introduce additional risks for U.S. miners. His tariffs on Canada and Mexico have contributed to a “risk-off” sentiment among investors, leading to a pullback from volatile assets, such as Bitcoin and mining stocks.

此外，特朗普的贸易政策可能会给美国矿工带来额外的风险。他对加拿大和墨西哥的关税促成了投资者的“冒险”情绪，从而导致比特币和采矿股等动荡的资产的回调。

In response, some mining companies have begun pivoting to AI computing by repurposing their data centers to support machine learning workloads.

作为回应，一些矿业公司通过重新利用其数据中心来支持机器学习工作负载，从而开始旋转AI计算。

However, that shift faces new hurdles—particularly following the launch of Deepseek, a Chinese AI model that debuted in late January and disrupted the sector.

但是，这种转变面临着新的障碍 - 尤其是在DeepSeek推出的中国AI模型之后，该模型于1月下旬首次亮相并破坏了该行业。

JPMorgan analysts noted that Deepseek’s emergence—with significantly lower capital investment than U.S. AI giants like OpenAI, Microsoft, and Google—has intensified competition in the AI space, making it harder for Bitcoin miners to capitalize on the industry’s rapid growth.

摩根大通（JPMorgan）分析师指出，DeepSeek的出现（与OpenAI，Microsoft和Google这样的美国AI巨头的资本投资都显着低得多，已经加剧了AI领域的竞争，这使得比特币矿工更难利用该行业的快速增长。

As Bitcoin’s rally pulls miners out of the worst of their losses, the sector remains caught between volatile crypto markets and an uncertain economic backdrop.

随着比特币的拉力赛将矿工从最严重的损失中拉出来，该行业仍在挥发性加密市场和不确定的经济背景之间陷入困境。