The "domino effect" of Bitcoin's sharp decline has already spread to the cryptocurrency mining sector. This Monday, mining stocks and related concept stocks collectively plunged, with a daily drop exceeding 10%. Some small mining companies' stock prices are even close to historical lows. As a core component of the Bitcoin industry chain, cryptocurrency mining is facing a triple blow of plummeting computing power, high costs, and falling prices. Is the "darkest hour" already here?
The direct cause of this mining stock crash is the large-scale shutdown of mining operations in Xinjiang. According to industry news, the number of shut down mining machines exceeds 400,000, accounting for about 17% of the global Bitcoin computing power. The shutdown of mining machines has directly led to a significant decrease in mining revenue for mining companies. For small and medium-sized mining companies that heavily rely on mining operations, there may even be a risk of a break in the capital chain. Meanwhile, the decline in Bitcoin prices has further exacerbated the operational pressure on mining companies. Many mining companies' mining costs are already close to or even exceed the current Bitcoin price, falling into the dilemma of "mining equals loss."
In addition to short-term policy shocks, the cryptocurrency mining industry also faces long-term pressure from industry transformation. As countries around the world increasingly tighten regulations on cryptocurrency mining, many nations have implemented policies to restrict or ban mining, continuously compressing the survival space for mining companies. At the same time, the approaching Bitcoin halving cycle has raised concerns in the market about the future profitability of mining companies. After the halving, mining rewards will be significantly reduced, further increasing the profitability pressure on mining companies.
However, for leading mining companies, the situation may be relatively optimistic. These top mining companies, leveraging their scale, technological, and financial advantages, are better equipped to cope with policy shocks and market fluctuations. They may even acquire assets from small and medium-sized mining companies during the industry's reshuffling, further expanding their market share. Therefore, this sharp decline in mining stocks is both the industry's 'darkest hour' and a 'critical juncture' in the industry's reshuffling, suggesting that the cryptocurrency mining sector may usher in a new round of structural reshaping.@男神说币 #比特币流动性 $BTC
