After many trials and tribulations – and even a string of bankruptcies – Bitcoin (BTC) miners have been able to catch a break in late 2023 with a significant rally in the price of the world’s foremost cryptocurrency.

经过多次考验和磨难，甚至一连串破产，比特币 (BTC) 矿商终于在 2023 年末迎来了喘息之机，世界上最重要的加密货币的价格大幅上涨。

The New Year saw a new trend with these companies as they started selling their cryptocurrency en masse. As of January 17, miners have sold a total of 10,600 BTC worth approximately $452 million, per an X post shared by Ali Martinez, a prominent crypto expert.

新年以来，这些公司出现了新趋势，他们开始大规模出售加密货币。根据著名加密货币专家 Ali Martinez 分享的 X 帖子，截至 1 月 17 日，矿工总共出售了 10,600 个 BTC，价值约 4.52 亿美元。

In fact, Bitcoin miners are currently engaged in active selling, and on-chain data indicates that significant selling pressure persists across the major cryptocurrency exchanges, according to the analytics platform Crypto Quant.

事实上，根据分析平台 Crypto Quant 的数据，比特币矿商目前正在积极抛售，链上数据表明主要加密货币交易所仍然存在巨大的抛售压力。

This trend comes as the crypto industry is undergoing several important shifts. Exactly one week ago, on January 10. the SEC announced it had approved a long list of spot Bitcoin exchange-traded funds (ETFs) – the first of their kind in the U.S.

这一趋势出现之际，加密行业正在经历几个重要的转变。就在一周前，即 1 月 10 日，美国证券交易委员会 (SEC) 宣布已批准一长串现货比特币交易所交易基金 (ETF)，这是美国同类基金中的首个。

The historic decision, while driving volume and boosting investor enthusiasm, also caused a major retracement that saw Bitcoin erase $80 billion from its market cap and the entire crypto market approximately $100 billion in just under a week.

这一历史性决定在推动交易量并提高投资者热情的同时，也引发了重大回调，比特币市值在不到一周的时间里蒸发了 800 亿美元，整个加密货币市场蒸发了约 1000 亿美元。

The selloffs also come 11 days after Bitcoin mining difficulty and expenses rose by an estimated 1.78% and less than a hundred days before the halving – an event that will significantly decrease BTC supply and is expected to have a major impact on prices across the board.

此次抛售发生在比特币挖矿难度和费用预计上涨 1.78% 后 11 天，距离减半还有不到一百天，这一事件将大幅减少 BTC 供应，预计将对全面价格产生重大影响。

Institutions increasingly interested in Bitcoin miners 

机构对比特币矿工越来越感兴趣

As it turns out, mining companies have also benefited from significant investments from multiple financial behemoths – including those traditionally critical of, if not even opposed to, Bitcoin – which have been pumping millions into the sector throughout 2023.

事实证明，矿业公司还受益于多个金融巨头的巨额投资，其中包括那些传统上批评甚至反对比特币的金融巨头，这些巨头在 2023 年向该行业注入了数百万美元。

BlackRock (NYSE: BLK), the world’s largest asset manager with $9.42 trillion in assets under management (AUM), has been a major shareholder of 4 out of 5 biggest mining firms since at least August 2023 and has only ramped up its involvement with these firms throughout the second half of the year.

贝莱德（纽约证券交易所股票代码：BLK）是全球最大的资产管理公司，管理资产达 9.42 万亿美元，至少自 2023 年 8 月以来一直是 5 家最大矿业公司中 4 家的主要股东，并且只是加大了对这些公司的参与力度。整个下半年的公司。

Additionally, Vanguard – an investment firm with $7.7 trillion in AUM – has also been pumping money into Bitcoin miners and was, as of January 13, the largest shareholder of both Marathon Digital (NASDAQ: MARA) and Riot Platforms Inc. (NASDAQ: RIOT), despite also reportedly blocking its clients from buying the newly-approved BTC ETFs.

此外，资产管理规模达 7.7 万亿美元的投资公司 Vanguard 也一直在向比特币矿商注入资金，截至 1 月 13 日，Vanguard 是 Marathon Digital（纳斯达克股票代码：MARA）和 Riot Platforms Inc.（纳斯达克股票代码：RIOT）的最大股东），尽管据报道还阻止其客户购买新批准的 BTC ETF。

BTC price analysis

比特币价格分析

Bitcoin itself has been undergoing a price correction since the start of 2024 and has already faced two sharp and significant price declines. The first came on January 3, when it erased $60 billion in a day, and the second shortly after the EFT approval when it – after briefly retesting $49,000 – quickly crashed to approximately $42,000.

自 2024 年初以来，比特币本身就一直在经历价格调整，并已面临两次价格大幅下跌。第一次发生在 1 月 3 日，当时一天之内蒸发了 600 亿美元，第二次发生在 EFT 批准后不久，在短暂重新测试 49,000 美元后，迅速跌至约 42,000 美元。

Since January 1, Bitcoin is down 3.61%, and the world’s foremost cryptocurrency fell another 0.56% in the last 24 hours, reaching the press-time price of $42,584.

自 1 月 1 日以来，比特币已下跌 3.61%，全球最重要的加密货币在过去 24 小时内又下跌 0.56%，截至发稿时价格为 42,584 美元。

Despite this, Bitcoin has shown some growth in the last 30 days – 2.82% – and a remarkable 52-week price increase of 101.28%. At the time of publication, it decisively retains its top position among cryptocurrencies with a market cap of $834 billion.

尽管如此，比特币在过去 30 天中还是出现了一些增长——2.82%——并且 52 周价格涨幅高达 101.28%。截至发稿时，它以 8340 亿美元的市值坚定地保持着加密货币中的领先地位。

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