比特幣礦業正處於整合階段：Architect Partners

報告稱，礦工希望透過獲得低成本電力和資本來確保大型數據中心容量。

Bitcoin (BTC) mining is becoming increasingly consolidated, with a few large companies controlling a majority of the hashrate. This consolidation was triggered by the recent halving in April, which made it more difficult for small miners to operate profitably.

比特幣（BTC）挖礦正變得日益整合，少數大公司控制著大部分算力。這次整合是由最近四月份的減半引發的，這使得小型礦商獲利變得更加困難。

As a result of the consolidation, several mergers and acquisitions (M&A) have taken place in the mining sector. For example, Bitfarms (BITF) is planning to acquire Stronghold Digital Mining (SDIG). This deal is significant because Bitfarms was the subject of an unsolicited takeover offer from rival miner Riot Platforms (RIOT) in May.

由於整合，採礦業發生了多起併購（M&A）。例如，Bitfarms (BITF) 正計劃收購 Stronghold Digital Mining (SDIG)。這筆交易意義重大，因為 Bitfarms 是 5 月競爭對手礦商 Riot Platforms (RIOT) 主動提出的收購要約的對象。

Hostile M&A can be difficult in technology and financial services businesses, which rely on the talent of people. However, bitcoin mining is very different, where physical facilities with access to electricity and widely available computing equipment are the core assets.

在依賴人才的科技和金融服務業，敵意併購可能會很困難。然而，比特幣挖礦則截然不同，其中具有電力供應的實體設施和廣泛使用的計算設備是核心資產。

The consolidation of the mining sector is ironic, given that bitcoin creator Satoshi Nakamoto's original vision was that anyone could set up a computer to mine the cryptocurrency and that no one would control a large amount of the hashrate. Hashrate is a proxy for competition in the industry and mining difficulty.

鑑於比特幣創造者中本聰最初的願景是任何人都可以設置一台電腦來挖掘加密貨幣，並且沒有人會控制大量的算力，採礦業的整合具有諷刺意味。算力是產業競爭和挖礦難度的指標。

The effects of concentration in the mining sector are yet to be seen, but some like Jack Dorsey and the Block (SQ), the company he founded, are attempting to reverse this trend by “building semiconductors and systems to support a return to mining decentralization.”

採礦業集中化的影響還有待觀察，但 Jack Dorsey 和他創立的 Block (SQ) 等公司正試圖透過「建造半導體和系統來支持採礦業去中心化的回歸」來扭轉這一趨勢。