据路透社，法国公用事业公司 Engie 正评估在其位于巴西东北部、装机规模 895 MWp 的 Assu Sol 光伏 电站部署储能系统或比特币挖矿数据中心，以缓解限电（curtailment）对项目收益的影响；自 2023 年 以来，因电网消纳能力不足、可再生能源装机快速增长及分布式光伏扩张，巴西光伏与风电项目普遍面 临限电压力，公司正研究通过本地化用电（包括挖矿或储能）提升利用率，不过相关方案预计仍需数年 才能落地。 （来源：吴说） ...

（来源：吴说） 吴说获悉，据 Arkham 监测，阿联酋已通过其合作伙伴 Citadel 挖矿产出约 4.536 亿美元的比特币。目前 看来，其大部分挖矿所得仍在持有，最近一次对外转出发生在 4 个月前。若不计能源成本，阿联酋目前 在比特币挖矿上的账面利润约为 3.44 亿美元。 ...

俄罗斯西北部科米共和国警方破获一起非法挖矿案件，一名 39 岁农场主被指在自家改造的谷仓内运行 80 余台 ASIC 矿机，通过非法接入电网盗用电力，造成约 8 万美元的用电损失。当地警方称，其绕过 电表直接从变电站取电，且未在联邦税务部门登记相关挖矿活动。科米共和国正计划在 2026 年前建设 15 个加密挖矿数据中心，试图打造俄罗斯新的比特币挖矿中心，目前已有 2 个项目动工。（DL News） （来源：吴说） ...

Core Insights - The company reported significant growth in its Q3 2025 financial performance, with revenue reaching $170 million, a year-over-year increase of 173.59% and a quarter-over-quarter increase of 17.0% [2] - Adjusted net loss narrowed significantly to $26.8 million, a reduction of 69.2% year-over-year, while operating cash flow turned positive at $41.2 million, marking a new quarterly high since 2024 [2] Business Performance - The self-mining business was the primary growth driver, generating $105 million in revenue, a year-over-year increase of 78.6%, and accounting for 57.7% of total revenue. Bitcoin production reached 1,231 coins, up 35.2% year-over-year, with a gross margin of 32.7%, an increase of 8.4 percentage points [3] - The strategically expanded AI cloud computing business achieved revenue of $12 million in Q3, with a gross margin of 41.3%, indicating the start of a new growth trajectory [4] Operational Metrics - As of the end of Q3, the company's total hash rate reached 18.7 EH/s, a year-over-year increase of 42.9%. The use of clean energy accounted for 76%, aiding in cost control. Additionally, the total Bitcoin held by the company increased to 2,233.2 coins [5] Future Outlook - Management anticipates Q4 2025 revenue to be between $200 million and $210 million, representing a year-over-year growth of 55%-63%. Plans are in place to increase total data center hash rate to 25 EH/s by 2026 [6]

消息面上，近日，德林控股发布公告，于2026年1月1日至2026年1月31日期间，比特币总产量为51.937 枚比特币，相当于每日平均产量约为1.675枚比特币。实际哈希率(按矿池基准)由2025年12月31日的约 3.36 EH/s增长至2026年1月31日的约4.03EH/s，且该期间的每日实际哈希率峰值约为4.05 EH/s。该期间 持有的比特币完全来自挖矿产出。该期间并无其他比特币来源，亦无处置比特币。 于2026年1月初比特币期初结余为32.618枚比特币(为于2025年11月12日至2025年12月31日期间产出的所 有比特币)。加上该期间产出的51.937枚比特币且并无处置比特币，于2026年1月31日的比特币期末结余 为84.555枚比特币。 根据集团现时内部预估及现行比特币网络状况，9,148台现有比特币矿机的总哈希率约为4 EH/s，预期相 应的指示性合计每日产出约为1.7枚比特币。集团目前预测2026年全年比特币产量约为600至700枚比特 币(惟须视网络难度、比特币价格、运行时间及其他运行状况而定)。 智通财经APP获悉，德林控股(01709)涨超4%，截至发稿，涨4.68%，报1.7 ...

据彭博社，比特币矿业关键盈利指标 hash price 跌至历史低点，每 TH 收入约 0.03 美元（数据来自 Luxor Technology），双周挖矿难度预计下调逾 13%。在比特币跌破 7 万美元、能源成本上升及美国冬 季风暴影响下，多家矿企被迫关停部分设备，美股矿企股价同步走弱；尽管部分矿商尝试将数据中心转 向 AI 计算以分散风险，但收入仍主要依赖挖矿，电价上行与极端天气导致的停电进一步压缩行业利润 空间。 （来源：吴说） ...

吴说获悉，德林控股（1709 HK）披露 2026 年 1 月比特币挖矿业务更新。1 月产出 51.937 枚 BTC，日 均 1.675 枚；实际哈希率由期初 3.36 EH/s 增至期末 4.03 EH/s。期初持仓 32.618 枚，无处置，期末持仓 84.555 枚。现有 9148 台矿机总哈希率约 4 EH/s，日产约 1.7 枚；2026 全年预计产出 600-700 枚 BTC。 来源：市场资讯 （来源：吴说） ...

Core Insights - The crisis of BitRiver, Russia's largest Bitcoin mining firm, highlights the challenges faced by major mining players in operating under unclear regulations and unsustainable business models [2][3][7] - The situation has led to significant operational disruptions, including unpaid staff and the arrest of founder Igor Runets on tax evasion charges [4][8] Company Overview - BitRiver operates over 175,000 crypto mining rigs and generated revenues exceeding $133 million in 2025, utilizing 533 megawatts of electricity across 15 data centers [3] - The firm produced approximately 26,000 Bitcoin in 2025, valued at around $2 billion, contributing to a total mining capacity of 11 GW in Russia [3] Legal and Regulatory Issues - Igor Runets is suspected of running a tax evasion scheme that allowed companies to falsely claim expenses related to computing services and data center infrastructure [4][5] - Investigators believe that clients of BitRiver made payments for mining rigs that were never delivered, using these transactions to inflate tax deductions [5] Operational Challenges - Employees at BitRiver have reportedly not been paid for over three months, leading to resignations and a lack of communication from management [6][8] - Many BitRiver offices have been closed, and equipment along with documentation has been removed by unknown individuals, indicating a severe operational crisis [6] Industry Implications - The crisis at BitRiver may lead to an outflow of weaker participants from the Russian Bitcoin mining industry, exacerbating existing challenges [2][7] - Regulatory pressures and legal uncertainties continue to pose risks for large businesses in the mining sector, complicating their operational landscape [7]

Stablecoin company Tether has developed Mining OS, an open source bitcoin mining management software. Tether’s Mining OS, or MOS, functions as a modular framework capable of managing energy, hardware, and data streams simultaneously. Tether emphasized in its X announcement that it hopes to reduce reliance on closed-source, proprietary solutions that create vendor lock-in. Operators can utilize the software to monitor real-time hashrate, temperature, and power consumption. The interface also supports the ...

Key Takeaways Bitcoin at $78,000 is nearing shutdown prices for many mid-tier miners like S19 XP+ and M60S. Antminer S21 series rigs could suffer losses if BTC drops to the $69,000–$74,000 range. Efficient models like S23 remain profitable even at much lower prices around $44,000. Bitcoin is trading at $78,489 following a volatile slump, putting miner profitability on a knife’s edge. If BTC slides further below $69,000–$74,000, mid-tier rigs may reach a tipping point, forcing a wave of shutdowns. ...