公共比特幣礦工在4月份出售了115％的生產，將HashPrice推向了比特幣的新歷史最高水平

該公司的最新研究報告顯示，公共礦工在4月份出售了115％的比特幣產量，這意味著他們的售出了超出其生產的銷售。

The public bitcoin miners sold 115% of their production in April, the highest ratio since the last bear market in late 2022, according to latest research by investment bank Jefferies.

根據投資銀行Jefferies的最新研究，公共比特幣礦工在4月份出售了其生產的115％，這是自2022年下半年的最高比率。

The firm’s latest research report reveals that the miners’ hashprice (what miners earn per unit of computational power) has failed to keep pace with bitcoin’s ascent to a new all-time high above $109,000 on Tuesday. It stands at just $55 per petahash per second (PH/s), lower than the $63/PH/s level it briefly reached the last time bitcoin crossed $100,000 in December. This is due to a combination of elevated network difficulty and weak transaction fees, which have kept revenues in check.

該公司的最新研究報告表明，礦工的哈希（Minhprice）（礦工每單位計算能力的收入）未能跟上比特幣在周二的新歷史高度高於109,000美元以上的新高度。它每秒的價格僅為每秒55美元（pH/s），低於$ 63/p/s的水平，它短暫地達到了比特幣在12月的100,000美元交叉$ 100,000。這是由於網絡難度和交易費用較弱的結合，這使收入保持了控制。

The top players in the mining space are expanding despite the weak profitability. CleanSpark (CLSK) has reportedly surpassed 40 EH/s in hashrate, and IREN (IREN), which recently outpaced Riot Platforms (NASDAQ:RIOT) to become the third largest public miner in terms of realized hashrate, saw a 25% increase in hash power and is aiming for 50 EH/s by June. Cogo (NYSE:COGO) is also set to add 18 EH/s by July.

儘管盈利能力較弱，但採礦領域的頂級參與者仍在擴大。據報導，CleanSpark（CLSK）在哈希拉特（Hashrate）和Iren（Iren）中超過了40 EH/s，而Iren（Iren）最近超過了Riot Platform（NASDAQ：RIOT），就已實現的Hashrate而言，它成為了第三大公共礦工，在Hash Power中增加了25％，目的是在Hash Power上增加，並瞄準了50 EH/S 6月份。 COGO（NYSE：COGO）還設置為7月之前增加18 eh/s。

MARA Holdings (NASDAQ:MARA) still has the highest installed hashrate at 57.3 EH/s, as per Jefferies’ calculations. The investment bank's analysis, which takes into account hashrate, energy consumption, and operational efficiency, also found that IREN had the highest implied uptime at around 97%, followed by HIVE Digital Technologies (NASDAQ:HIVE) at about 96%.

根據Jefferies的計算，Mara Holdings（NASDAQ：MARA）的安裝最高為57.3 EH/S。該投資銀行的分析考慮了哈希，能源消耗和運營效率，還發現Iren的含義最高的正常運行時間約為97％，其次是Hive Digital Technologies（Nasdaq：Hive），約為96％。

Moreover, a change is underway in how miners are securing new hardware. Several public firms have signed agreements with Bitmain that allow them to pay for mining rigs in bitcoin and retain the right to repurchase their coins at a predetermined price—an interesting hedge against further price increases.

此外，礦工如何確保新硬件的方式正在進行。幾家上市公司已與Bitmain簽署了協議，使他們可以用比特幣支付採礦鑽機，並保留以預定價格回購硬幣的權利，這是一種有趣的對沖，以抗進一步的價格上漲。

The battered mining stocks have shown signs of recovery, with some names like Northern Star and Evolution bouncing back more than 60% in April alone. However, most remain in negative year-to-date territory, with only CleanSpark and MARA Holdings currently trading above their year-beginning levels.

受虐的採礦股已經顯示出恢復的跡象，北極星等一些名字在4月份就彈跳了60％以上。但是，大多數人仍然處於負面的年度領土，目前只有CleanSpark和Mara Holdings的交易高於其年份的水平。