美国矿工在关税和利润压缩的情况下卸载BTC

公开交易的比特币矿业公司在3月将其新矿BTC的40％以上卸载

U.S. miners sold more than 40% of their newly mined BTC in March, marking the most significant monthly sell-off since October 2024, according to an analysis by TheMinerMag.

根据Theminermag的一项分析，美国矿工在3月份出售了超过40％的新开采BTC，这是自2024年10月以来最重要的每月售罄。

The timing of these sales coincides with mounting economic uncertainty. With financial markets under pressure and costs rising across industries, many miners appear to be liquidating their reserves to stabilize their balance sheets. This wave of selling has added to the broader volatility in the crypto market. In March alone, Bitcoin dipped by 2.3%, following a steep correction of over 17% in February, per data from CoinGlass.

这些销售的时机与日益增加的经济不确定性相吻合。随着金融市场的压力和整个行业的成本上升，许多矿工似乎正在清算储备金以稳定资产负债表。这种销售浪潮增加了加密市场中更广泛的波动性。仅在3月，根据Coinglass的数据，2月份的高度校正超过17％，比特币下降了2.3％。

The challenges go far beyond price action. Bitcoin miners are grappling with rising energy costs, global trade disruptions, and increasing competition. The landscape is becoming even more difficult as U.S. trade policies ramp up pressure on supply chains. Braiins’ CMO, Kristian Csepcsar, highlighted that building mining rigs entirely in the U.S. isn’t feasible.

挑战远远超出了价格行动。比特币矿工正在努力应对不断上升的能源成本，全球贸易中断和不断增长的竞争。随着美国贸易政策加大对供应链的压力，景观变得越来越困难。布赖恩斯的CMO，克里斯蒂安CSEPCSAR，强调说，完全在美国建造采矿钻机是不可行的。

“The U.S. doesn't make the chips, the foundry services are done in China or Taiwan, and the modules are assembled in Mexico or Canada before arriving in the U.S. for final integration,” Csepcsar explained.

CSEPCSAR解释说：“美国不制作芯片，铸造厂在中国或台湾进行，并且在到达美国以进行最终整合之前，将在墨西哥或加拿大组装模块。”

This dependence on global supply chains ties into a crucial point: Donald Trump’s proposed tariffs are raising serious concerns across the sector. Energy, a substantial portion of operational expenses, is a key target for these tariffs. These new taxes threaten to tip the scales for many U.S.-based operations.

这种对全球供应链的依赖与关键点：唐纳德·特朗普的拟议关税正在引起整个领域的严重关注。能源是运营支出的很大一部分，是这些关税的关键目标。这些新的税收有可能使许多基于美国的业务的规模倾斜。

Hashlabs CEO Jaran Mellerud sheds light on the potential impact of tariffs on key hardware components. With the cost of importing mining machines into the U.S. set to rise by nearly 25%, suppliers might prefer to divert equipment to regions like Finland, which are not subject to these levies.

Hashlabs首席执行官Jaran Mellerud阐明了关税对关键硬件组件的潜在影响。随着将采矿机进口到美国的成本将上升近25％，供应商可能更喜欢将设备转移到芬兰等地区，而芬兰则不受这些征税。

In a recent post, Mellerud pointed out that if these tariffs take effect, mining in the U.S. may become financially unsustainable. This shift could create an opening for international competitors to claim a larger share of the market.

梅勒德（Mellerud）在最近的一篇文章中指出，如果这些关税生效，美国的开采在财务上可能不可持续。这一转变可能会为国际竞争对手提供更大份额的市场份额。

“It seems like the U.S. is pricing itself out of the Bitcoin mining market with new tariffs and energy costs being 3-4x higher than in Canada, Iceland, or Finland (which also has no tariffs). Maybe it's best to leave it to the other countries to focus on, while the U.S. can focus on other strengths.”

“似乎美国正在从比特币采矿市场上定价，新的关税和能源成本比加拿大，冰岛或芬兰高3-4倍（也没有关税）。也许最好让其他国家专注于美国，而美国可以专注于其他实力。”

As the dust settles on March, the crypto market is coping with the weight of macroeconomic trends and U.S. trade policies.

随着三月份的尘埃落定，加密货币市场正在应对宏观经济趋势和美国贸易政策的重量。