美联储洛根：美债和货币市场强劲，但并非坚不可摧。 ...

FOREIGN EXCHANGE 欧元/美元 1.128 +1.05% EURUSD 英镑/美元 1.339 +0.80% GBPUSD 美元/日元 In -0.56% 144.803 USDJPY 澳元/美元 +0.62% 0.644 AUDUSD 美元/瑞郎 0.833 -0.55% USDCHF | | 纽元/美元 NZDUSD | 0.591 | | +0.60% | | --- | --- | --- | --- | --- | | 机 | 英镑/日元 GBPJPY | 193.874 | | +0.24% | | | | 虚拟货币 VIRTUAL CURRENCY | | | | B | 比特币 1 BTC | 102915.500 -3527.340 | | -3.31% | | 1 | 菜特币 LTC | 95.610 | -5.320 | -5.27% | | | 以太坊 ETH | 2409.830 | -87.660 | -3.51% | | | 瑞波币 XRP | 2.316 | -0.112 | -4.63% | TREASURY BONDS 金十图示：2025年05月19日（周一） ...

转自：新华财经 新华财经北京5月16日电（高二山）人民银行16日开展1065亿元7天期逆回购操作，操作利率为1.40%，与此前持平；鉴于当日有770亿元逆回购到期，公 开市场实现净投放295亿元。 上海银行间同业拆放利率（Shibor）短期品种全线转涨，隔夜品种领涨并与7天、14天品种倒挂。具体来看，隔夜Shibor上涨25.00BP，报1.6540%；7天 Shibor上涨4.80BP，报1.5450%；14天Shibor上涨5.10BP，报1.6010%。 上海银行间同业拆放利率（5月16日） 来源：全国银行间同业拆借中心 银行间质押式回购市场方面，各品种全部上涨，DR007与DR014倒挂，R001与R007、R014倒挂。具体看，DR001、R001加权平均利率分别上行21.9BP、 20.4BP，报1.6313%、1.6513%，成交额分别减少2210亿元、6446亿元；DR007、R007加权平均利率分别上行11.3BP、7.9BP，报1.6374%、1.6251%，成交 额分别增加115亿元、688亿元；DR014、R014加权平均利率分别上行6.7BP、5.7BP，报1.6363%、1.628 ...

FOREIGN EXCHANGE 欧元/美元 1.120 +0.16% EURUSD 英镑/美元 -0.10% 1.329 GBPUSD 美元/日元 III -0.11% 145.535 USDJPY 澳元/美元 0.642 +0.23% AUDUSD 美元/瑞郎 0.837 +0.13% USDCHF | | 纽元/美元 NZDUSD | 0.590 | | +0.49% | | --- | --- | --- | --- | --- | | ne | 英镑/日元 GBPJPY | 193.431 | | -0.20% | | | | 荒拟货币 | | | | | | VIRTUAL CURRENCY | | | | 15 | 比特币 11 BTC | 103796.910 +33.200 | | +0.03% | | 1 | 菜特币 LTC | 100.830 | +1.570 | +1.58% | | | 以太坊 ETH | 2625.050 | +76.360 | +3.00% | | | 瑞波币 XRP | 2.430 +0.044 | | +1.86% | TREASURY BONDS 美国2年期 ...

美国投资公司协会（ICI）：美国货币市场基金资产降至6.941万亿美元。 ...

Financial Data and Key Metrics Changes - In Q1 2025, total revenue reached USD 145 million, with USD 144 million coming from Bitcoin mining operations, marking a significant increase compared to the previous year [4][12] - Gross profit for the quarter was USD 13.61 million, while the operating loss was USD 155.5 million, primarily due to a decline in Bitcoin prices [4][15] - As of March 31, 2025, total cash, cash equivalents, and short-term investments amounted to USD 347 million, providing solid support for future business expansion [4] Business Line Data and Key Metrics Changes - Revenue from the Bitcoin mining business was USD 144 million, with 15.41 Bitcoins mined in Q1 2025 [13] - Revenue from automotive trading related income decreased to RMB 64.4 million compared to the same period in 2024 [13] - The average cost to mine Bitcoin was USD 70,602.1 per coin, excluding depreciation of mining machines [13] Market Data and Key Metrics Changes - The company holds a total computing power of 32 exahashes per second, accounting for approximately 4% of the global average hash rate in Q1 [5] - The average monthly effective hash rate consistently exceeded 30 exahashes per second, with a coin yield of 16.6 Bitcoins per exahash, placing the company among the top three publicly listed mining companies [7] Company Strategy and Development Direction - The company is committed to a "mine and hold" strategy, focusing on self-mining and long-term holding of Bitcoin [8] - Plans to optimize existing computing power resources and pursue M&A opportunities to scale operations and enhance market competitiveness [9] - The traditional automotive business, AutoCango, aims to connect China's used car market with overseas buyers, with over 480,000 used car listings [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Bitcoin's long-term value appreciation potential and the stability of its supply [8] - The company is focused on optimizing mining operations and exploring new market opportunities while strengthening partnerships [25] - Management acknowledged challenges from increasing computing power and mining difficulty but emphasized ongoing efforts to enhance operational efficiency [20][24] Other Important Information - The company has reduced its total outstanding loan balance to approximately RMB 2.6 billion, with improved loan quality metrics [5] - The average power efficiency for the quarter was 21.62 per terahash, indicating strong operational metrics [7] Q&A Session Summary Question: Trends in the cryptocurrency market - Management believes the cryptocurrency market presents both opportunities and challenges, with a focus on monitoring developments and adjusting strategies accordingly [19] Question: Response to increasing computing power and mining difficulty - The company plans to optimize existing mining operations and expedite the delivery of additional computing power [20] Question: Reasons for declines in April metrics - A significant decrease in mined Bitcoins in April was attributed to an increase in global network hash rate and mining difficulty [22] Question: Pressure from increasing electricity costs - The company is experiencing high electricity costs but is exploring renegotiation of hosting agreements and partnerships in low-cost clean energy projects [24] Question: Future strategic direction - The company will focus on optimizing mining operations, enhancing efficiency, and exploring new market opportunities while pursuing sustainable energy sources [25] Question: Concentration risk in revenue from Bitcoin mining - While the majority of revenue comes from Bitcoin mining, the company remains confident in its used car export business and plans to explore additional opportunities for diversification [28] Question: Plans for cash flow and financing - The company has sufficient liquidity for operations and plans to prioritize debt financing over equity financing [30]

新华财经北京5月12日电（高二山）人民银行12日开展430亿元7天逆回购操作，操作利率为1.40%；鉴于当日无逆回购到期，公开市场实现净投放430亿 元。 上海银行间同业拆放利率（Shibor）短期品种再度全线下行，跌幅有所收窄。具体来看，隔夜Shibor下跌1.60BP，报1.4060%；7天Shibor下跌0.60BP，报 1.4900%；14天Shibor下跌0.70BP，报1.5560%。 | | | | 2025-05-13 11:00 | | --- | --- | --- | --- | | | 期限 | Shibor(%) | 涨跌(BP) | | � | O/N | 1.4060 | 1.60 | | ↑ | 1W | 1.4900 | 0.60 | | ゃ | 2W | 1.5560 | 0.70 | | ゃ | 1M | 1.6470 | 1.40 | | 1 | 3M | 1.6620 | 1.00 | | ↑ | 6M | 1.6720 | 1.30 | | 企 | 9M | 1.6760 | 1.00 | | � | 1Y | 1.6840 | 1.10 | 上海银行间同业拆放利率 ...

新华财经北京5月12日电（高二山）人民银行12日开展430亿元7天逆回购操作，操作利率为1.40%；鉴于当日无逆回购到期，公开市场实 现净投放430亿元。 上海银行间同业拆放利率（Shibor）短期品种继续回落，14天品种微涨。具体来看，隔夜Shibor下跌7.50BP，报1.4220%；7天Shibor下跌 2.30BP，报1.4960%；14天Shibor上涨0.90BP，报1.5630%。 | | | | 2025-05-12 11:00 | | --- | --- | --- | --- | | | 期限 | Shibor(%) | 涨跌(BP) | | t | O/N | 1.4220 | 7.50 | | ⇒ | 1W | 1.4960 | 2.30 | | 个 | 2W | 1.5630 | 0.90 | | t | 1M | 1.6610 | 2.30 | | ☆ | 3M | 1.6720 | 2.40 | | f | 6M | 1.6850 | 1.90 | | 中 | 9M | 1.6860 | 2.10 | | 企 | 1Y | 1.6950 | 1.60 | 上海银行间同业拆放利率（ ...

上海银行间同业拆放利率（5月8日） | | | | | 2025-05-08 11:00 | | --- | --- | --- | --- | --- | | | 期限 | Shibor(%) | | 涨跌(BP) | | 价 | O/N | 1.5390 | | 11.80 | | ☆ | 1W | 1.5940 | | 6.70 | | 食 | 2W | 1.6800 | | 4.50 | | t | 1M | 1.7020 | V | 1.70 | | 1 | 3M | 1.7200 | | 1.70 | | 金 | 6M | 1.7290 | | 1.70 | | t | 9M | 1.7290 | | 2.30 | | t | 1Y | 1.7350 | | 1.70 | 银行间质押式回购市场方面，短期资金量价齐跌，隔夜品种价格回落至1.5%附近。具体看，DR001、R001加权平均利率分别下行13.2BP、11.7BP，报 1.5294%、1.5757%，成交额分别减少1489亿元、867亿元；DR007、R007加权平均利率分别下行6.9BP、6.6BP，报1.6112%、1.6477%，成交 ...

货币市场预计到年底英国央行将降息59个基点。 ...