标题：比特币采矿成本在2024年末提高到新高点。

根据Coinshares的一份新行业报告，在2024年第四季度，开采一块比特币（BTC）的成本飙升。

The cost of mining one Bitcoin (BTC) soared to new highs in the fourth quarter of 2024, according to a recent industry report from CoinShares.

根据Coinshares最近的一份行业报告，在2024年第四季度，开采一块比特币（BTC）的成本飙升至新高点。

CoinShares’ report, which surveyed seven publicly listed Bitcoin miners, found that the average production cost was $82,162 per Bitcoin. This represents a sharp 47% increase compared to the previous quarter.

Coinshares的报告调查了七个公开列出的比特币矿工，发现平均生产成本为每比特币82,162美元。与上一季度相比，这比上一季度增长了47％。

The report identified several factors that drove up mining costs. Public miners accelerated hardware deployments and faced higher tax burdens. Additionally, non-cash expenses, such as depreciation and stock-based compensation, also saw an uptick.

该报告确定了促进采矿成本的几个因素。公共矿工加速了硬件部署，并面临更高的税收负担。此外，非现金费用（例如折旧和基于股票的薪酬）也增加了上升。

Excluding Hut 8 Mining, which reported a significant tax expense, the average cash production cost among public miners stood at $75,767. Factoring in non-cash items pushed the total average production cost to a steeper $137,018 per Bitcoin.

除了报告巨额税费的小屋8矿业外，公共矿工的平均现金生产成本为75,767美元。分解非现金商品将总的平均生产成本提高到了每个比特币的陡峭$ 137,018。

Tax Expenses and Hardware Turnover Fuel Rising Costs

税收费用和硬件周转燃料上涨成本

CoinShares noted that faster hardware turnover and competition among miners contributed to rising operational costs. At the same time, fluctuating Bitcoin prices and compressed valuation multiples made profitability harder to maintain.

Coinshares指出，矿工之间的更快的硬件营业额和竞争促成了运营成本的上涨。同时，比特币价格波动和压缩估值倍数使盈利能力更难维持。

CoinShares highlighted Hut 8 as an example of a miner facing difficulties. The company recorded the highest unit cost among all surveyed miners, driven by a $93 million deferred tax liability and elevated interest payments from convertible notes and credit facilities.

Coinshares强调了小屋8，作为矿工面临困难的一个例子。该公司在所有被调查的矿工中记录了最高的单位成本，这是由9,300万美元的延期纳税责任和从可转换票据和信贷额度支付提高的利息支付的驱动。

As a result, Hut 8’s total cost per mined Bitcoin soared to over $281,000 during the quarter.

结果，在本季度，小屋8的总成本飙升至281,000美元以上。

Miners Focus on Efficiency Gains

矿工专注于效率提高

Despite the challenges of rising costs, many mining firms are working to improve operational efficiency. Companies like Bitfarms and MicroStrategy continue to invest in next-generation mining equipment and explore cost-cutting strategies to remain competitive in a tightening market.

尽管成本上涨面临挑战，但许多采矿公司仍在努力提高运营效率。像Bitfarms和MicroStrategy这样的公司继续投资于下一代采矿设备，并探索削减成本的策略，以在紧张的市场中保持竞争力。

With Bitcoin’s price trading above the $70,000 mark, miners will need to realize substantial efficiency gains and hope for a sustained bullish market to offset soaring production expenses in the quarters ahead.

随着比特币的价格交易高于$ 70,000的成绩，矿工将需要实现巨大的效率提高，并希望持续的看涨市场以抵消未来季度的飙升生产费用。