Tus nqi Bitcoin tau nce, tab sis BTC cov khoom lag luam mining tuaj yeem ua rau muaj kev cuam tshuam thoob plaws xyoo 2023

Bitcoin (BTC) mining stocks feem ntau ua raws li BTC tus nqi vim nws ncaj qha cuam tshuam cov tuam txhab nyiaj tau los. Cov khoom lag luam no tau raug ntaus ntau heev nyob rau lub quarter kawg ntawm 2022, tshwj xeeb tshaj yog thaum lub Kaum Ob Hlis. Kev poob qis tom qab FTX lub cev qhuav dej phem nrog cov kev lag luam poob nyiaj txiag ntawm qhov loj tshaj plaws US-based Bitcoin Lub tuam txhab mining, Core Scientific.

Lub sijhawm no, lwm cov khoom lag luam mining, zoo li Marathon Digital Holdings (MARA) nyob rau hauv daim ntawv qhia hauv qab no, nthuav tawm qhov tsis muaj zog cuam tshuam nrog Bitcoin tus nqi, qhia tias lub Kaum Ob Hlis kev poob qis yog tej zaum overblown.

Qhov kev tsis zoo tau thim rov qab thaum pib ntawm 2023 vim tias feem ntau cov khoom lag luam mining tau tshaj tawm cov txiaj ntsig zoo. Hashrate Index mining stock index, uas kev tus nqi nruab nrab ntawm pej xeem sau npe mining thiab hardware manufacturing tuam txhab, nce 62.5% xyoo-rau-hnub. Tus nqi zoo kuj tseem rov qab muaj kev sib raug zoo ntawm BTC tus nqi thiab cov khoom lag luam mining.

Txawm li cas los xij, kev lag luam mining tseem nyob hauv kev ntxhov siab, nrog cov qib nyiaj tsawg xav tau rau lub sij hawm ntev. Txij li thaum Q2 2022, cov tuam txhab mining tau txais nyiaj ua haujlwm los ntawm kev muag BTC los ntawm kev khaws cia, muag BTC tshiab mined, nce nqi thiab tshaj tawm cov khoom tshiab. Tshwj tsis yog tias Bitcoin tus nqi sib sau ua ke siab dua $ 25,000, kev lag luam yuav muaj peev xwm ua pov thawj ob peb qhov kev sim los yog ntxiv cov khoom muag muag kom them nuj nqis.

Qee lub tuam txhab mining ua haujlwm poob

Tam sim no, cov tuam txhab mining sab saum toj 'tus nqi-rau-cov nyiaj tau los (PE) piv yog qhov tsis zoo, qhia tias lawv tau ua haujlwm ntawm qhov poob, ua rau lawv cov nqi khoom lag luam muaj kev cuam tshuam rau kev poob qis.

Riot Blockchain, Bitfarms Ltd, Hive Blockchain Technologies, Cleanspark Inc, Marathon Digital Holdings thiab Hut 8 Mining yog cov lag luam loj tshaj plaws Bitcoin mining tuam txhab uas muag nrog ntau dua 1% ntawm lub ntiaj teb hash tus nqi sib koom. Sab saum toj 15 tuam txhab lag luam mining muaj kev sib koom ua ke ntawm ib ncig ntawm 19%.

Qhov tseem ceeb, PE piv ntawm feem ntau cov tuam txhab hauv kev lag luam yog nyob nruab nrab ntawm 0 thiab 2, tshwj tsis yog Marathon, Hive thiab Hut 8. Qhov no ua rau ceeb toom tias cov tuam txhab no tuaj yeem raug nqi ntau dua ntawm lawv cov nqi tam sim no.

Ib txoj haujlwm poob yog tsis muaj laj thawj tsis lees txais cov khoom lag luam vim tias kev lag luam feem ntau saib mus tom ntej. Yog hais tias ib tug mus ntev bullish ntawm Bitcoin, cov mining stocks yog qhov kev xaiv pom tseeb. Txawm li cas los xij, cov tuam txhab no yuav tsum muaj sia nyob los ntawm kev ua lag luam dais ua ntej coj cov txiv hmab txiv ntoo ntawm cov nyuj tom ntej. 

Cov tswv lag luam raug kev txom nyem los ntawm cov nuj nqis phem thiab kev sib cais

Overleveraged los yog nuj nqis tuam txhab uas muag uas yuav tsum tau ua raws li lawv cov luag hauj lwm txaus siab yog tshwj xeeb yog kev nyuaj siab thiab yooj yim rau insolvency.

Marathon, Greenidge thiab Stronghold muaj ntau dua $ 200,000 nyob rau hauv nuj nqis ib chav tsev ntawm Bitcoin mining, nrog Marathon cov nuj nqis siab tshaj $ 1.1 lab ib mined BTC. Marathon collateralized nws cov nyiaj qiv nrog Bitcoin nyob rau hauv nws lub txhab nyiaj, thiab lub tuam txhab tam sim no tuav 10,055 BTC nqi nyob ib ncig ntawm $235 lab.

Thaum kawg ntawm Lub Kaum Hli, Marathon muaj $ 100 lab nyiaj qiv, uas muaj kev pheej hmoo tau txais txiaj ntsig yog tias Bitcoin tus nqi poob qis dua tus nqi qiv nyiaj. Piv txwv li, yog tias qhov pib qiv nyiaj yog 150%, lub tuam txhab yuav raug yuam kom muag qee qhov ntawm nws cov BTC kom tshem tawm cov nyiaj qiv yog tias Bitcoin nqi qis dua $ 15,000.

Hauv qhov no, nws tau txhawb kom pom tias Hive, Hut8 thiab Riot feem ntau tsis muaj nuj nqis thiab ua haujlwm tseem ceeb ntawm cov peev txheej. Qhov no txo ​​qhov kev nyuaj siab ntawm kev them cov paj laum ntawm cov nuj nqis thiab muab kev hloov pauv hauv kev nce nyiaj lossis nthuav tawm los ntawm kev nqus qee qhov kev lag luam tawm los ntawm kev lag luam lag luam tam sim no.

Txawm li cas los xij, muaj lwm txoj hauv kev los nce nyiaj. Es tsis txhob nce nqi, cov miners tuaj yeem dilute lawv cov shares. Cov tuam txhab nce kev nqis peev los ntawm pej xeem kev lag luam ua lag luam hauv kev pauv rau cov khoom lag luam ntxiv. Qhov no txo ​​cov tswv cuab ntawm shareholders. Hut 8 mining thiab Riot tau diluted sab qaum teb ntawm 40% ntawm lawv cov shares los ntawm Q2 2022. Hut 8 diluted nyob ib ncig ntawm 15% ntawm shares dua nyob rau hauv peb lub hlis twg ntawm tib lub xyoo.

Qhov yuav tsum tau nce nyiaj tau nthuav tawm cov tuam txhab tsis muaj nuj nqis no rau kev pheej hmoo ntawm kev ua lag luam, thaum ntau qhov kev faib tawm kuj tseem txo qis tus nqi ntawm cov tub lag luam tuav.

Related: Bitcoin miners 'hnub phem tshaj plaws yuav dhau mus, tab sis ob peb yam tseem ceeb tseem ceeb

Lub tuam txhab mining mandates ntawm treasury tuav

Thaum cov tuam txhab mining tab tom tawm tsam nrog cov txiaj ntsig tau txiaj ntsig, lawv tau txiav txim siab los khaws lawv cov nyiaj txiag Bitcoin qib. Txawm hais tias muaj kev poob qis txij li Q2 2022, Marathon tuaj yeem khaws nws cov nyiaj khaws cia qib.

Tib lub sijhawm, Hut 8 mining siv txoj cai nruj dua hauv kev muag nws cov mined BTC. Qhov no tau ua rau muaj kev nce ntxiv hauv nws cov kev tuav pov hwm txij li nruab nrab-2022. 

Thaum lwm tus zoo li Riot thiab Hive tau siv los siv lawv cov nyiaj txiag BTC los them cov nqi khiav lag luam thiab nthuav dav. Hive's tuav tau txo qis txij li lub quarter thib peb ntawm 2022, los ntawm 4,032 BTC rau 2,348 BTC. Hive yog tso siab rau kev nthuav dav ntawm nws cov miner fleet thiab txo tus nqi kom txhawb nqa nws tus kheej.

Kom meej meej, Bitcoin mining tuam txhab uas muag tseem muaj kev cuam tshuam rau BTC tus nqi, cov nuj nqis liquidations thiab shareholder poob vim ntau dhau dilution. raws li rau cov kws tshuaj ntsuam xyuas ntawm cov saw hlau thiab Crypto Quant tus tsim Ki Young Ju, 2023 yuav pom cov koom haum tau txais tag nrho cov tuam txhab mining nrog lub sijhawm los yuav lawv ntawm luv nqi.

Thaum qhov no yuav tsis cuam tshuam rau Bitcoin tus nqi ntau, cov khoom lag luam mining tseem raug cuam tshuam rau kev hem thawj ntawm kev poob qis.