The recent meltdown in cryptocurrency markets is shaking up the real-world finances for Chinese cryptocurrency companies.
加密货币市场近期的震荡，正在让中国加密货币公司的财务状况摇摇欲坠。
Ebang International Holdings Inc. (EBON.US), a maker of cryptocurrency mining machines, said last Friday it was warned by the Nasdaq that its shares could be delisted after trading below $1 for 30 consecutive business days.
加密货币矿机制造商亿邦国际控股有限公司(EBON.US)上周五称，纳斯达克已向它发出警告，在其股票连续30个交易日以低于1美元的价格交易之后，它的股票可能被退市。
https://www.globenewswire.com/news-release/2022/06/24/2468995/0/en/Ebang-International-Announces-Receipt-of-Nasdaq-Notification-Regarding-Minimum-Bid-Price-Deficiency.html
就在一天前，另一加密挖矿设备制造商嘉楠科技(CAN.US)和加密矿池运营商比特矿业(BTCM.US)分别公布了各自的举措，反映出它们最近面临的挑战。嘉楠科技称，计划以约660万美元(4,422万元)回购去年发行的认股权证，而比特矿业则利用新发行的认股权证募集了1,600万美元。
Just a day earlier, rival crypto mining machine maker Canaan Inc. (CAN.US), and crypto mining pool operator BIT Mining Ltd. (BTCM.US), unveiled separate moves reflecting their own recent challenges. Canaan said it plans to repurchase warrants it issued last year for about $6.6 million, while BIT Mining raised $16 million from its own new warrant issue.
虽然这三件事看似无关，但每个事件背后的潜台词都是加密货币价格的下跌，这正在削弱公司市值，并可能损害它们的业务，后者严重依赖加密货币需求的不断增长。加密货币的领头羊比特币今年已经贬值50%以上，目前价格还不到去年11月历史高点的三分之一。
https://www.prnewswire.com/news-releases/canaan-inc-announces-the-repurchase-of-over-4-72-million-outstanding-warrants-for-approximately-us6-61-million-301574108.html
加密货币相关公司的股价往往与比特币价格同步波动，因为此类公司的命运与比特币和其他数字资产的需求密切相关。例如，对于矿机制造商而言，加密货币价格上涨通常会激发挖矿者寻求铸造更多虚拟货币以利用价格上涨获利的需求。价格上涨时，实际的矿工也会受益，因为他们的收入与其持有的数字资产的价值直接挂钩。
https://www.prnewswire.com/news-releases/bit-mining-announces-us16-million-registered-direct-offering-301574072.html
虽然加密货币价格已经跌到谷底，电价却涨上了天。这加剧了加密货币公司近期的痛苦，因为矿机在运转过程中耗电量巨大。
While the three events seem unrelated, the subtext behind each is tanking crypto prices, which is undermining the companies’ market values and threatening to hurt their businesses that rely heavily on booming demand for cryptocurrencies. Bellwether cryptocurrency bitcoin has lost more than 50% of its value this year and is worth less than a third of its all-time high reached last November.
此外，不想直接购买虚拟货币的投机性投资者，可能会购买比特币相关的股票，将其作为相关投资的代替品，这就强化了两个资产类别之间的关联。