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JingLing
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2021-03-30
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ARKK's major warehouse adjustment, can Ark replicate last year's success?
编者按：方舟投资备受期待的ARK太空探索与创新ETF (ARK Space Exploration & Innovation, ARKX)今日开始交易，这只主动管理基金的投资标的是近40只太空探索及创
ARKK's major warehouse adjustment, can Ark replicate last year's success?
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JingLing
JingLing
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2021-03-21
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Soared 19 times in 6 months! This chip stock is completely on fire, what is the origin?
据悉，阿瓦隆A1246矿机算力为90T，是效率最高的矿机之一。此次交易金额达271.3万美元。矿机将分3次交付，预计3月交付300台，5月交付50台，8月交付250台。不过，有说法称，该“矿场”，是俄军和私人投资者分成的。挖矿行业每年新增收入或达1000亿各种矿场的建立，显著的拉动了对矿机的需求，作为矿机生产商的嘉楠科技备受基金经理宠幸。比特币挖矿行业的年新增收入或超过100
Soared 19 times in 6 months! This chip stock is completely on fire, what is the origin?
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12:53","market":"us","language":"zh","title":"ARKK's major warehouse adjustment, can Ark replicate last year's success?","url":"https://stock-news.laohu8.com/highlight/detail?id=1187342209","media":"Barrons巴伦","summary":"编者按：方舟投资备受期待的ARK太空探索与创新ETF (ARK Space Exploration & Innovation, ARKX)今日开始交易，这只主动管理基金的投资标的是近40只太空探索及创","content":"<p>Editor's note: ARK Investment's highly anticipated ARK Space Exploration & Innovation ETF (ARK Space Exploration & Innovation, ARKX) started trading today. This actively managed fund invests in nearly 40 stocks in space exploration and Innovation-related fields, in addition to Including<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, Alphabet, and Chinese e-commerce giants<a href=\"https://laohu8.com/S/JD\">JD.com</a>And other companies. This ETF has a rate of 0.75%.</p><p>ARK Innovation (ARKK, hereinafter referred to as ARKK) shined last year, with returns soaring to 153% from 36% in 2019, making it the best performing fund in 2020. Cathie Wood, ARKK fund manager and founder of ARK Investment, has also become a household name. ARKK got off to a rocky start into 2021. After rising another 26% in mid-February, the $22 billion ETF has pulled back sharply over the past six weeks, down 9% year to date. It is worth investors taking a look at the dramatic changes that have taken place in ARKK's portfolio over the past year.</p><p>A year ago, ARKK mainly invested in small-cap stocks, and today, 51% of the fund's money is invested in large-cap stocks. As of the end of February, the average market capitalization of ARKK's investment underlying has increased to $39 billion from $5 billion in March last year, largely due to the rise in the share price of the investment underlying. It is worth noting that although ARKK has the largest position<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA) has recently pulled back, but it has still returned 500% over the past year.</p><p>Many actively managed funds have restrictions on the market value and holding time of investment targets, but ARKK does not have such restrictions. The fund holds both Tesla, which has a market capitalization of up to $594 billion, and Cerus (CERS), which has a market capitalization of just $1 billion. \"The factor of market capitalization is not very important to us,\" said Ren Leggi, client portfolio manager at Ark. \"We focus on innovation.\"</p><p><img src=\"https://static.tigerbbs.com/ee44733258ab802586481d7046f738a0\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>The rise in existing holdings can only partly explain ARKK's shift to companies with larger market capitalization. ARKK has also been selling smaller-cap stocks over the past few months, many of which are biotech companies, including Organovo Holdings (ONVO), Seres Therapeutics (MCRB), Computen (CGEN), and Editas Medicine (EDIT).</p><p>At the same time, ARKK includes a large number of Internet large-cap stocks, such as<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>(PYPL), Shopify (SHOP),<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Video Communications (ZM)<a href=\"https://laohu8.com/S/00700\">Tencent</a>(TCEHY),<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>(BIDU), Sea (SE), and Nintendo (NTDOY). The fund did not hold these stocks last July.</p><p><img src=\"https://static.tigerbbs.com/1e3eca5782906de78a8d380c91d48d6b\" tg-width=\"680\" tg-height=\"394\" referrerpolicy=\"no-referrer\"></p><p>The sectors ARKK focuses on have also changed. In March 2020, the biotechnology and diagnostic therapy sectors accounted for the largest proportion, accounting for 22% and 15% of the portfolio respectively. By the end of February this year, biotechnology accounted for only 14%, and diagnosis and therapy accounted for 8%.</p><p>In addition, ARKK has increased its investment in Internet stocks and software stocks. In March 2020, both accounted for 6%, and as of February this year, they accounted for 15% and 9% respectively. Shopify was not included in the portfolio last October, and now it ranks eighth in open interest, with a weight of 3.1%.</p><p>But Amy Arnott, a portfolio strategist at Morningstar, said ARKK has more exposure to the healthcare and tech sectors than other peer funds.</p><p>Some people suspect that the switch to larger companies by market capitalization is because ARKK's scale is rapidly growing. Last year, the fund attracted $16 billion in new funds. If these funds are invested in companies with smaller market capitalization, it may quickly raise ARKK's stake in these companies to a dangerous level. From this perspective, putting these funds into more liquid large-cap stocks seems like a safer option. Arnott said, \"The bigger ARKK is, the harder it is to build a sizable small-cap position.\"</p><p>Ark Investment denied this view, saying that the position adjustment depends on the prospect, valuation and Ark's strategy of the investment target. For example, Leggi said ARKK withdrew from the DNA sequencing company that once ranked only behind Tesla in holdings<a href=\"https://laohu8.com/S/ILMN\">Illumina</a>(ILMN), the inclusion of its competitor Pacific Biosciences of California (PACB) because of disruptive changes on the horizon in genome sequencing. Other stocks are sold because they have risen too high compared to similar stocks.</p><p>According to Leggi, Ark has also been preparing for a stock market correction since last year, including large-cap stocks in its portfolio to provide decline protection and cash-like reserves to buy the most favored stocks at low prices during stock market downturns.</p><p><img src=\"https://static.tigerbbs.com/c08f83fa146eec4d103e89d95523cb25\" tg-width=\"524\" tg-height=\"535\" referrerpolicy=\"no-referrer\"></p><p>These shifts mean ARKK will likely be less volatile going forward. Many biotech companies struggle to obtain cash flow or revenue before products are approved, while Internet companies can usually already obtain revenue through some products or services.</p><p>This could mean ARKK will perform more like 2019 this year than 2020. Arnott said, \"ARKK is still a very aggressive growth fund, but when the asset size of a fund continues to expand, it can be more difficult to maintain the performance advantage.\"</p><p>Leggi said that companies with larger market capitalization do not necessarily mean less growth. Ark Investment just announced a target price for Tesla, believing that the company's stock price will reach $3,000 by 2025, 385% higher than current levels. Leggi believes that in some industries, larger earlier disruptors have established themselves in the market, and smaller competitors will struggle to compete with them.</p><p>Leggi said, \"Many smaller electric vehicle manufacturers have gone public through special purpose acquisition companies (SPACs). All of us haven't invested in these small companies because the capital intensity of the industry is very high, and these small companies don't have the conditions to become the new leader in the market. Tesla is already far ahead. Next, our portfolio's exposure to small-cap stocks is unlikely to be as big as it was a few years ago.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ARKK's major warehouse adjustment, can Ark replicate last year's success?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nARKK's major warehouse adjustment, can Ark replicate last year's success?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1063202233\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/dd0fd02e1b0644cdbe57505e702dacab);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Barrons巴伦 </p>\n<p class=\"h-time smaller\">2021-03-30 12:53</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Editor's note: ARK Investment's highly anticipated ARK Space Exploration & Innovation ETF (ARK Space Exploration & Innovation, ARKX) started trading today. This actively managed fund invests in nearly 40 stocks in space exploration and Innovation-related fields, in addition to Including<a href=\"https://laohu8.com/S/AMZN\">Amazon</a>, Alphabet, and Chinese e-commerce giants<a href=\"https://laohu8.com/S/JD\">JD.com</a>And other companies. This ETF has a rate of 0.75%.</p><p>ARK Innovation (ARKK, hereinafter referred to as ARKK) shined last year, with returns soaring to 153% from 36% in 2019, making it the best performing fund in 2020. Cathie Wood, ARKK fund manager and founder of ARK Investment, has also become a household name. ARKK got off to a rocky start into 2021. After rising another 26% in mid-February, the $22 billion ETF has pulled back sharply over the past six weeks, down 9% year to date. It is worth investors taking a look at the dramatic changes that have taken place in ARKK's portfolio over the past year.</p><p>A year ago, ARKK mainly invested in small-cap stocks, and today, 51% of the fund's money is invested in large-cap stocks. As of the end of February, the average market capitalization of ARKK's investment underlying has increased to $39 billion from $5 billion in March last year, largely due to the rise in the share price of the investment underlying. It is worth noting that although ARKK has the largest position<a href=\"https://laohu8.com/S/TSLA\">Tesla</a>(TSLA) has recently pulled back, but it has still returned 500% over the past year.</p><p>Many actively managed funds have restrictions on the market value and holding time of investment targets, but ARKK does not have such restrictions. The fund holds both Tesla, which has a market capitalization of up to $594 billion, and Cerus (CERS), which has a market capitalization of just $1 billion. \"The factor of market capitalization is not very important to us,\" said Ren Leggi, client portfolio manager at Ark. \"We focus on innovation.\"</p><p><img src=\"https://static.tigerbbs.com/ee44733258ab802586481d7046f738a0\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"></p><p>The rise in existing holdings can only partly explain ARKK's shift to companies with larger market capitalization. ARKK has also been selling smaller-cap stocks over the past few months, many of which are biotech companies, including Organovo Holdings (ONVO), Seres Therapeutics (MCRB), Computen (CGEN), and Editas Medicine (EDIT).</p><p>At the same time, ARKK includes a large number of Internet large-cap stocks, such as<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>(PYPL), Shopify (SHOP),<a href=\"https://laohu8.com/S/ZM\">Zoom</a>Video Communications (ZM)<a href=\"https://laohu8.com/S/00700\">Tencent</a>(TCEHY),<a href=\"https://laohu8.com/S/BIDU\">Baidu</a>(BIDU), Sea (SE), and Nintendo (NTDOY). The fund did not hold these stocks last July.</p><p><img src=\"https://static.tigerbbs.com/1e3eca5782906de78a8d380c91d48d6b\" tg-width=\"680\" tg-height=\"394\" referrerpolicy=\"no-referrer\"></p><p>The sectors ARKK focuses on have also changed. In March 2020, the biotechnology and diagnostic therapy sectors accounted for the largest proportion, accounting for 22% and 15% of the portfolio respectively. By the end of February this year, biotechnology accounted for only 14%, and diagnosis and therapy accounted for 8%.</p><p>In addition, ARKK has increased its investment in Internet stocks and software stocks. In March 2020, both accounted for 6%, and as of February this year, they accounted for 15% and 9% respectively. Shopify was not included in the portfolio last October, and now it ranks eighth in open interest, with a weight of 3.1%.</p><p>But Amy Arnott, a portfolio strategist at Morningstar, said ARKK has more exposure to the healthcare and tech sectors than other peer funds.</p><p>Some people suspect that the switch to larger companies by market capitalization is because ARKK's scale is rapidly growing. Last year, the fund attracted $16 billion in new funds. If these funds are invested in companies with smaller market capitalization, it may quickly raise ARKK's stake in these companies to a dangerous level. From this perspective, putting these funds into more liquid large-cap stocks seems like a safer option. Arnott said, \"The bigger ARKK is, the harder it is to build a sizable small-cap position.\"</p><p>Ark Investment denied this view, saying that the position adjustment depends on the prospect, valuation and Ark's strategy of the investment target. For example, Leggi said ARKK withdrew from the DNA sequencing company that once ranked only behind Tesla in holdings<a href=\"https://laohu8.com/S/ILMN\">Illumina</a>(ILMN), the inclusion of its competitor Pacific Biosciences of California (PACB) because of disruptive changes on the horizon in genome sequencing. Other stocks are sold because they have risen too high compared to similar stocks.</p><p>According to Leggi, Ark has also been preparing for a stock market correction since last year, including large-cap stocks in its portfolio to provide decline protection and cash-like reserves to buy the most favored stocks at low prices during stock market downturns.</p><p><img src=\"https://static.tigerbbs.com/c08f83fa146eec4d103e89d95523cb25\" tg-width=\"524\" tg-height=\"535\" referrerpolicy=\"no-referrer\"></p><p>These shifts mean ARKK will likely be less volatile going forward. Many biotech companies struggle to obtain cash flow or revenue before products are approved, while Internet companies can usually already obtain revenue through some products or services.</p><p>This could mean ARKK will perform more like 2019 this year than 2020. Arnott said, \"ARKK is still a very aggressive growth fund, but when the asset size of a fund continues to expand, it can be more difficult to maintain the performance advantage.\"</p><p>Leggi said that companies with larger market capitalization do not necessarily mean less growth. Ark Investment just announced a target price for Tesla, believing that the company's stock price will reach $3,000 by 2025, 385% higher than current levels. Leggi believes that in some industries, larger earlier disruptors have established themselves in the market, and smaller competitors will struggle to compete with them.</p><p>Leggi said, \"Many smaller electric vehicle manufacturers have gone public through special purpose acquisition companies (SPACs). All of us haven't invested in these small companies because the capital intensity of the industry is very high, and these small companies don't have the conditions to become the new leader in the market. Tesla is already far ahead. Next, our portfolio's exposure to small-cap stocks is unlikely to be as big as it was a few years ago.\"</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/5d8fb95e65f042f352c6313989391357","relate_stocks":{"ARKX":"ARK Space Exploration & Innovation ETF"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187342209","content_text":"编者按：方舟投资备受期待的ARK太空探索与创新ETF (ARK Space Exploration & Innovation, ARKX)今日开始交易，这只主动管理基金的投资标的是近40只太空探索及创新相关领域的股票，此外还包括亚马逊、Alphabet、和中国电商巨头京东等公司。这只ETF的费率为0.75%。ARK Innovation (ARKK，下文简称ARKK)去年大放异彩，回报率从2019年的36%飙升到153%，成为2020年表现最好的基金。ARKK基金经理、方舟投资(ARK Investment)创始人凯西·伍德(Cathie Wood)也因此变得家喻户晓。进入2021年后ARKK开局不利，在2月中旬又上涨了26%之后，这只规模220亿美元的ETF在过去六周里大幅回落，今年迄今下跌9%。投资者有必要了解一下过去一年ARKK投资组合发生的巨大变化。一年前，ARKK主要投资小盘股，如今，这只基金51%的资金投向了大盘股。截至2月底，ARKK投资标的的平均市值已从去年3月的50亿美元增至390亿美元，这在很大程度上是由于投资标的股价的上涨。值得注意的是，虽然ARKK持仓最大的特斯拉(TSLA)近期股价回落，但过去一年的回报率依然高达500%。不少主动管理基金对投资标的的市值以及持有时间有限制，但ARKK没有这方面的限制。该基金既持有市值高达5940亿美元的特斯拉，也持有市值仅为10亿美元的Cerus (CERS)。“市值这一因素对我们来说不是很重要，”方舟客户投资组合经理雷恩·莱吉(Ren Leggi)说，“我们关注的是创新。”现有持仓的上涨只能在一定程度上解释ARKK转向市值更大的公司的原因。过去几个月，ARKK也一直在抛售市值较小的股票，其中许多是生物科技公司，包括Organovo Holdings (ONVO)、Seres Therapeutics (MCRB)、Computen (CGEN)和Editas Medicine (EDIT)。与此同时，ARKK纳入了大量互联网大盘股，如PayPal (PYPL)、Shopify (SHOP)、Zoom Video Communications (ZM)、腾讯(TCEHY)、百度(BIDU)、Sea (SE)和任天堂(NTDOY)。去年7月该基金没有持有这些股票。ARKK关注的板块也发生了变化。2020年3月，生物技术和诊疗法板块占比最大，分别占投资组合的22%和15%。到今年2月底，生物技术仅占14%，诊疗法占8%。此外，ARKK增加了对互联网股和软件股的投资，2020年3月二者占比均为6%，截至今年2月占比分别为15%和9%。去年10月份Shopify还没有被纳入投资组合，现在持仓量排名第八，权重为3.1%。但晨星(Morningstar)投资组合策略师艾米·阿诺特(Amy Arnott)表示，与其他同类基金相比，ARKK在医疗保健和科技板块的投资更多。一些人怀疑转投市值更大的公司的因为ARKK的规模迅速变大。去年该基金吸引了160亿美元的新资金，如果这些资金投向市值较小的公司，可能会迅速将ARKK对这些公司的持股提高到一个比较危险的水平。从这个角度来看，把这些资金投向流动性更强的大盘股似乎是一个更安全的选择。阿诺特说，“ARKK的规模越大，就越难建立起相当规模的小盘股头寸。”方舟投资否认了这种观点，称调仓取决于投资标的的前景、估值和方舟的策略。举例来说，莱吉称ARKK退出了对持仓量曾仅排在特斯拉之后的DNA测序公司Illumina (ILMN)、纳入其竞争对手Pacific Biosciences of California (PACB)是因为基因组测序领域即将出现颠覆性的变化。抛售其他股票是因为和同类股票相比这些股票已经涨得过高。莱吉称，自去年以来方舟也一直在为股市回调做准备，在投资组合中纳入大盘股是为了提供下跌保护和类似现金的储备，以便在股市低迷时期以低价买入最被看好的股票。这些转变意味着ARKK未来的波动性可能会变小。许多生物技术公司在产品获批之前很难获得现金流或收入，而互联网公司通常已经能通过一些产品或服务获得收入。这可能意味着今年ARKK的表现将更像2019年，而不是2020年。阿诺特说，“ARKK仍是一只非常激进的成长型基金，但当一只基金的资产规模不断扩大时，要维持业绩优势可能会更加困难。”莱吉称，市值更大的公司不一定意味着增长变少，方舟投资刚刚公布了特斯拉的目标价，认为到2025年该公司股价将达到3000美元，比目前水平高出385%。莱吉认为，在某些行业中，早期规模更大的颠覆者已经建立起了自己的市场地位，小型竞争对手将很难与之竞争。莱吉说，“不少规模较小的电动车制造商已通过特殊目的收购公司(SPAC)上市，我们之所有没有投资这些小公司，是因为该行业的资本密集度非常高，这些小公司不具备成为市场新的领头羊的条件，特斯拉已经遥遥领先。接下来我们的投资组合对小盘股的敞口不太可能再会像几年前那么大。”","news_type":1,"symbols_score_info":{"ARKX":0.9}},"isVote":1,"tweetType":1,"viewCount":2253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359306712,"gmtCreate":1616335363236,"gmtModify":1704792969180,"author":{"id":"3577336123110411","authorId":"3577336123110411","name":"JingLing","avatar":"https://static.tigerbbs.com/49004d05ce36f8b76a711bb807b51ba3","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577336123110411","authorIdStr":"3577336123110411"},"themes":[],"htmlText":"666","listText":"666","text":"666","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359306712","repostId":"2121456431","repostType":4,"repost":{"id":"2121456431","kind":"news","weMediaInfo":{"introduction":"致力于提供最及时的财经资讯，最专业的解读分析，覆盖宏观经济、金融机构、A股市场、上市公司、投资理财等财经领域。","home_visible":1,"media_name":"券商中国","id":"9","head_image":"https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f"},"pubTimestamp":1616287967,"share":"https://ttm.financial/m/news/2121456431?lang=en_US&edition=fundamental","pubTime":"2021-03-21 08:52","market":"us","language":"zh","title":"Soared 19 times in 6 months! This chip stock is completely on fire, what is the origin?","url":"https://stock-news.laohu8.com/highlight/detail?id=2121456431","media":"券商中国","summary":"据悉，阿瓦隆A1246矿机算力为90T，是效率最高的矿机之一。此次交易金额达271.3万美元。矿机将分3次交付，预计3月交付300台，5月交付50台，8月交付250台。不过，有说法称，该“矿场”，是俄军和私人投资者分成的。挖矿行业每年新增收入或达1000亿各种矿场的建立，显著的拉动了对矿机的需求，作为矿机生产商的嘉楠科技备受基金经理宠幸。比特币挖矿行业的年新增收入或超过100","content":"<p>Since the emergence of mining machine chip stocks, fund managers have many more reasons to buy Bitcoin. Affected by the continuous rise in Bitcoin prices, Chinese concept stocks, which are mainly engaged in the mining machine chip business, have become the darling in the eyes of fund managers.</p><p><b>As of the close on March 20, Beijing time, Chinese concept stocks listed in the United States<a href=\"https://laohu8.com/S/CAN\">Canaan Technology</a>The stock price fell 4.5%. As of March 20, Canaan Technology's stock price has increased by more than 5 times this year, and 15 times in the last six months. During this period, the highest stock price has increased by 19 times. After a week of continuous corrections, as of March 20, the current market value has fallen back to 28.4 billion yuan.</b></p><p><a href=\"https://laohu8.com/S/06178\">Everbright Securities</a>Said that the mining industry is expected to add 18 billion US dollars in revenue every year. Canaan Technology is currently<a href=\"https://laohu8.com/S/00981\">SMIC</a>The main customers of N+1 advanced manufacturing process have cooperated in the production of new mining machines (90TH/s), and have achieved batch spot shipments. The annual output is expected to exceed 400,000 units.</p><p><b>Bitcoin prices are far away from mining costs, and demand for mining machines is hot</b></p><p>If fund managers directly buy Bitcoin, it may make prudent traditional investors feel ridiculous, but it seems much more logical to share Bitcoin's market by buying \"AI chip company stocks\".</p><p>As of the close on March 20, Beijing time, Canaan Technology, a Chinese concept stock listed in the United States, fell 4.5%. After the stock hit a new high on March 12, it has been pulling back for a week. According to the data, the stock price of Canaan Technology has increased by more than 5 times this year. The stock price increase in the last six months has reached 15 times based on the closing price on March 20th. If calculated based on March 12th, it will reach a maximum of 19 times. The market value of Canaan Technology after the current decline is 28.4 billion yuan.</p><p>Headquartered in Beijing, Canaan Technology is a company engaged in independent AI chip research and development and providing high-performance computing services. To be more accurate, Canaan Technology is a mining machine research and development company in Bitcoin. About 90% of the company's revenue comes from mining machine chips and related businesses. Mining machines are the most basic link in Bitcoin's ecosystem.</p><p>The hot price of Bitcoin continues to rise, which has significantly driven the demand for mining.</p><p>\"The higher the price, the greater the benefits of mining. After the price in Bitcoin falls below US $5,000, the mining machines can't be sold, and even the cost of electricity is very difficult.\" An investor who owns a mine in Bitcoin in South China told a brokerage China reporter at an exchange meeting that the sales of mining machines in Bitcoin are directly affected by the price in Bitcoin. If the price in Bitcoin is too low, it will impact the cost of mining.</p><p>According to the market on March 18th, the latest price of Bitcoin remained around US $58,000, which is a very attractive price for mining investors, which means that the price of Bitcoin is much higher than the cost of mining.</p><p>The high price situation has stimulated the sales of Bitcoin mining machines.</p><p>On March 2 this year, cryptocurrency mining company IntegratedVenturesInc announced the purchase of 600 Avalon A1246 mining machines (Avalon 1246) produced by Canaan Technology. It is reported that the Avalon A1246 mining machine has a computing power of 90T and is one of the most efficient mining machines. The transaction amounted to US $2.713 million. The mining machines will be delivered in three installments, with 300 units expected to be delivered in March, 50 units in May, and 250 units in August.</p><p>On January 27 this year, when the Bitcoin price remained around US $35,000, Bitcoin's mining machines were already very easy to sell. According to the official public account of Canaan, on January 27 this year, Canaan Technology signed an order for 6,000 Avalon mining machines with the mining giant CoreScientific, and reached a cooperation intention with the start-up company DroneEnergy in the procurement of mining machines. Prior to this, Canaan Technology also signed a purchase order for 6,400 mining machines with HIVEBlockChain.</p><p><b>Bitcoin has helped mining machinery companies a lot by institutional sweeping goods</b></p><p>Institutional investors in traditional industries have entered the market to sweep Bitcoin, raising the price of Bitcoin and staying away from the cost of mining, which has helped mining machinery companies a lot.</p><p>On March 18, Hong Kong stock listed companies<a href=\"https://laohu8.com/S/01357\">Meitu Corporation</a>It was announced that the subsidiary MiracleVision further purchased in open market transactions on March 17, 2021 under the cryptocurrency investment plan: 16,000 units of Ethereum (purchased according to Ethereum), with a total consideration of approximately US $28.4 million; Bitcoin of approximately 386.09 units (purchased pursuant to Bitcoin) for a total consideration of approximately $21.6 million. As of the date of the announcement, Meitu has accumulated net purchases of cryptocurrency worth approximately US $90 million.</p><p>Previously, on March 5, Meitu announced that it would purchase 15,000 units of Ethereum and 379.12 units of Bitcoin in open market transactions, with total considerations of approximately US $22.1 million and US $17.9 million respectively.</p><p>Meitu said in the announcement that these purchases were made in accordance with a cryptocurrency investment plan previously approved by the company's board of directors, according to which the group plans to purchase cryptocurrencies with a net amount of no more than US $100 million, which is funded by the company's existing cash reserves. Subsequently, the company's board of directors will implement the cryptocurrency investment plan as appropriate according to the situation of the cryptocurrency market.</p><p><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>A report by strategist Nikolaos Panigirtzoglou shows that so far, retail investors have bought more than 187,000 Bitcoin, while institutional investors have bought approximately 172,684 Bitcoin.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>A new investor report written by the wealth management department of the company on March 17 outlined cryptocurrencies as an emerging investable asset class. The report said: For speculative investments to rise to the level of investable asset classes and play a role in a diversified portfolio, transformative progress will be needed on both supply and demand sides.</p><p>The change in institutional attitude towards Bitcoin assets is unexpected. according to<a href=\"https://laohu8.com/S/CME\">Chicago Mercantile Exchange</a>According to the group's data, as of February 2021, the open position of Bitcoin futures has increased by at least 100% for eight consecutive months, and the capital involved in these contracts has increased exponentially at an annual rate of 145%, from US $156 million at the end of February 2020 to US $2.34 billion a year later. The increase is more than three times the 425% increase in prices in Bitcoin last year. This also further reflects the demand of institutional investors for this asset class, which has reached unprecedented levels.</p><p>Now that the price of Bitcoin has risen to more than $50,000, investors' interest in trading Bitcoin has greatly increased, which has also made it profitable for investors in mines digging Bitcoin. This means that every Bitcoin dug up can be supplied to investors in the secondary market at a price of more than 50,000 US dollars.</p><p>According to news on March 18, Pakistan's Khyber Pakhtunkhwa province plans to establish two pilot cryptocurrency mining farms powered by hydropower. Earlier, on January 13, the province announced the launch of two state-owned Bitcoin mines, saying that the legislative bill for this action had been passed in the provincial parliament.</p><p>Ten days ago, on March 8, the Russian Ministry of Defense's \"Red Star TV\" announced information about a large cryptocurrency mine under the \"supervision\" of the Russian army. The mine is located at a hydropower station near Irkutsk, Siberia. The mine has thousands of mining machines. The extremely cold geographical environment provides the mine with good heat dissipation conditions and low water and electricity costs. However, it is said that the \"mine\" was divided between the Russian army and private investors.</p><p><b>The mining industry's annual new revenue may reach 100 billion</b></p><p>The establishment of various mines has significantly boosted the demand for mining machines. As a manufacturer of mining machines, Canaan Technology is favored by fund managers.</p><p>According to the information disclosed by listed companies, as of the end of last year, nearly 20 funds held shares of Canaan Technology. Fund managers directly hold Bitcoin, which may make conservative investors feel ridiculous at the moment, but it seems logical to hold Canaan Technology's shares in the name of buying \"AI chip companies\" to share Bitcoin's market.</p><p>The investment of A-share listed companies in Canaan Technology may also be the same strategy, so as to avoid listed companies directly deploying Bitcoin and being questioned by regulatory agencies.</p><p>Brokerage China reporters noticed that,<a href=\"https://laohu8.com/S/600226\">* ST Hanye</a>Invested 200 million yuan to hold 99.50% of the shares of Shanghai Yongtang. Shanghai Yongtang indirectly invested in Hangzhou Jianan Yunzhi Information Technology Co., Ltd. through Guihu Fund, and the company's final holding ratio of this investment project was less than 1%. Based on the fact that * ST Hanye indirectly holds Canaan Technology, the stock price of this stock has been rising continuously this year. As of March 18, * ST Hanye's stock price has increased by nearly 75% this year, and its market value is also close to 9 billion.</p><p><a href=\"https://laohu8.com/S/601788\">Everbright Securities</a>It was pointed out in a report that Canaan Technology was the first to deploy in Bitcoin's mining industry, and its mining machinery production capacity will be the most sufficient in 2021. Canaan Technology is currently<a href=\"https://laohu8.com/S/688981\">SMIC</a>The main customers of N+1 advanced manufacturing process have cooperated in the production of new mining machines (90TH/s), and have achieved batch spot shipments. The annual output is expected to exceed 400,000 units.</p><p>Canaan Technology is currently the only manufacturer with a multi-fab strategy. Due to the use of N+1 process chips for mass production, it has largely buffered the occupation of wafer production capacity by GPU mining graphics cards and 5G mobile phones. In the report, Everbright Securities predicts that the market size of the mining machinery industry this year will be approximately 22.6 billion RMB, and it is expected that the shipment volume in the first half of the year will be 270,000 units (150,000 units in SMIC,<a href=\"https://laohu8.com/S/TSM\">TSMC</a>120,000 units), and shipments in the second half of the year were 520,000 units (250,000 units from SMIC, 120,000 units from TSMC, and 150,000 units from others).</p><p>The annual new revenue of Bitcoin's mining industry may exceed 100 billion yuan. Everbright Securities pointed out that 2020-2024 is the fourth halving cycle of Bitcoin. The number of daily mining reward Bitcoin is 900, and the transaction fee is about 100, totaling about 1,000, at a price of 50,000 US dollars per piece. Calculated, the mining industry is expected to increase revenue by about 1000X50000X365 = 18 billion US dollars every year.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Soared 19 times in 6 months! This chip stock is completely on fire, what is the origin?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSoared 19 times in 6 months! This chip stock is completely on fire, what is the origin?\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/9\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d482d56459984e8c86a6a137295b3c4f);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">券商中国 </p>\n<p class=\"h-time smaller\">2021-03-21 08:52</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Since the emergence of mining machine chip stocks, fund managers have many more reasons to buy Bitcoin. Affected by the continuous rise in Bitcoin prices, Chinese concept stocks, which are mainly engaged in the mining machine chip business, have become the darling in the eyes of fund managers.</p><p><b>As of the close on March 20, Beijing time, Chinese concept stocks listed in the United States<a href=\"https://laohu8.com/S/CAN\">Canaan Technology</a>The stock price fell 4.5%. As of March 20, Canaan Technology's stock price has increased by more than 5 times this year, and 15 times in the last six months. During this period, the highest stock price has increased by 19 times. After a week of continuous corrections, as of March 20, the current market value has fallen back to 28.4 billion yuan.</b></p><p><a href=\"https://laohu8.com/S/06178\">Everbright Securities</a>Said that the mining industry is expected to add 18 billion US dollars in revenue every year. Canaan Technology is currently<a href=\"https://laohu8.com/S/00981\">SMIC</a>The main customers of N+1 advanced manufacturing process have cooperated in the production of new mining machines (90TH/s), and have achieved batch spot shipments. The annual output is expected to exceed 400,000 units.</p><p><b>Bitcoin prices are far away from mining costs, and demand for mining machines is hot</b></p><p>If fund managers directly buy Bitcoin, it may make prudent traditional investors feel ridiculous, but it seems much more logical to share Bitcoin's market by buying \"AI chip company stocks\".</p><p>As of the close on March 20, Beijing time, Canaan Technology, a Chinese concept stock listed in the United States, fell 4.5%. After the stock hit a new high on March 12, it has been pulling back for a week. According to the data, the stock price of Canaan Technology has increased by more than 5 times this year. The stock price increase in the last six months has reached 15 times based on the closing price on March 20th. If calculated based on March 12th, it will reach a maximum of 19 times. The market value of Canaan Technology after the current decline is 28.4 billion yuan.</p><p>Headquartered in Beijing, Canaan Technology is a company engaged in independent AI chip research and development and providing high-performance computing services. To be more accurate, Canaan Technology is a mining machine research and development company in Bitcoin. About 90% of the company's revenue comes from mining machine chips and related businesses. Mining machines are the most basic link in Bitcoin's ecosystem.</p><p>The hot price of Bitcoin continues to rise, which has significantly driven the demand for mining.</p><p>\"The higher the price, the greater the benefits of mining. After the price in Bitcoin falls below US $5,000, the mining machines can't be sold, and even the cost of electricity is very difficult.\" An investor who owns a mine in Bitcoin in South China told a brokerage China reporter at an exchange meeting that the sales of mining machines in Bitcoin are directly affected by the price in Bitcoin. If the price in Bitcoin is too low, it will impact the cost of mining.</p><p>According to the market on March 18th, the latest price of Bitcoin remained around US $58,000, which is a very attractive price for mining investors, which means that the price of Bitcoin is much higher than the cost of mining.</p><p>The high price situation has stimulated the sales of Bitcoin mining machines.</p><p>On March 2 this year, cryptocurrency mining company IntegratedVenturesInc announced the purchase of 600 Avalon A1246 mining machines (Avalon 1246) produced by Canaan Technology. It is reported that the Avalon A1246 mining machine has a computing power of 90T and is one of the most efficient mining machines. The transaction amounted to US $2.713 million. The mining machines will be delivered in three installments, with 300 units expected to be delivered in March, 50 units in May, and 250 units in August.</p><p>On January 27 this year, when the Bitcoin price remained around US $35,000, Bitcoin's mining machines were already very easy to sell. According to the official public account of Canaan, on January 27 this year, Canaan Technology signed an order for 6,000 Avalon mining machines with the mining giant CoreScientific, and reached a cooperation intention with the start-up company DroneEnergy in the procurement of mining machines. Prior to this, Canaan Technology also signed a purchase order for 6,400 mining machines with HIVEBlockChain.</p><p><b>Bitcoin has helped mining machinery companies a lot by institutional sweeping goods</b></p><p>Institutional investors in traditional industries have entered the market to sweep Bitcoin, raising the price of Bitcoin and staying away from the cost of mining, which has helped mining machinery companies a lot.</p><p>On March 18, Hong Kong stock listed companies<a href=\"https://laohu8.com/S/01357\">Meitu Corporation</a>It was announced that the subsidiary MiracleVision further purchased in open market transactions on March 17, 2021 under the cryptocurrency investment plan: 16,000 units of Ethereum (purchased according to Ethereum), with a total consideration of approximately US $28.4 million; Bitcoin of approximately 386.09 units (purchased pursuant to Bitcoin) for a total consideration of approximately $21.6 million. As of the date of the announcement, Meitu has accumulated net purchases of cryptocurrency worth approximately US $90 million.</p><p>Previously, on March 5, Meitu announced that it would purchase 15,000 units of Ethereum and 379.12 units of Bitcoin in open market transactions, with total considerations of approximately US $22.1 million and US $17.9 million respectively.</p><p>Meitu said in the announcement that these purchases were made in accordance with a cryptocurrency investment plan previously approved by the company's board of directors, according to which the group plans to purchase cryptocurrencies with a net amount of no more than US $100 million, which is funded by the company's existing cash reserves. Subsequently, the company's board of directors will implement the cryptocurrency investment plan as appropriate according to the situation of the cryptocurrency market.</p><p><a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a>A report by strategist Nikolaos Panigirtzoglou shows that so far, retail investors have bought more than 187,000 Bitcoin, while institutional investors have bought approximately 172,684 Bitcoin.</p><p><a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a>A new investor report written by the wealth management department of the company on March 17 outlined cryptocurrencies as an emerging investable asset class. The report said: For speculative investments to rise to the level of investable asset classes and play a role in a diversified portfolio, transformative progress will be needed on both supply and demand sides.</p><p>The change in institutional attitude towards Bitcoin assets is unexpected. according to<a href=\"https://laohu8.com/S/CME\">Chicago Mercantile Exchange</a>According to the group's data, as of February 2021, the open position of Bitcoin futures has increased by at least 100% for eight consecutive months, and the capital involved in these contracts has increased exponentially at an annual rate of 145%, from US $156 million at the end of February 2020 to US $2.34 billion a year later. The increase is more than three times the 425% increase in prices in Bitcoin last year. This also further reflects the demand of institutional investors for this asset class, which has reached unprecedented levels.</p><p>Now that the price of Bitcoin has risen to more than $50,000, investors' interest in trading Bitcoin has greatly increased, which has also made it profitable for investors in mines digging Bitcoin. This means that every Bitcoin dug up can be supplied to investors in the secondary market at a price of more than 50,000 US dollars.</p><p>According to news on March 18, Pakistan's Khyber Pakhtunkhwa province plans to establish two pilot cryptocurrency mining farms powered by hydropower. Earlier, on January 13, the province announced the launch of two state-owned Bitcoin mines, saying that the legislative bill for this action had been passed in the provincial parliament.</p><p>Ten days ago, on March 8, the Russian Ministry of Defense's \"Red Star TV\" announced information about a large cryptocurrency mine under the \"supervision\" of the Russian army. The mine is located at a hydropower station near Irkutsk, Siberia. The mine has thousands of mining machines. The extremely cold geographical environment provides the mine with good heat dissipation conditions and low water and electricity costs. However, it is said that the \"mine\" was divided between the Russian army and private investors.</p><p><b>The mining industry's annual new revenue may reach 100 billion</b></p><p>The establishment of various mines has significantly boosted the demand for mining machines. As a manufacturer of mining machines, Canaan Technology is favored by fund managers.</p><p>According to the information disclosed by listed companies, as of the end of last year, nearly 20 funds held shares of Canaan Technology. Fund managers directly hold Bitcoin, which may make conservative investors feel ridiculous at the moment, but it seems logical to hold Canaan Technology's shares in the name of buying \"AI chip companies\" to share Bitcoin's market.</p><p>The investment of A-share listed companies in Canaan Technology may also be the same strategy, so as to avoid listed companies directly deploying Bitcoin and being questioned by regulatory agencies.</p><p>Brokerage China reporters noticed that,<a href=\"https://laohu8.com/S/600226\">* ST Hanye</a>Invested 200 million yuan to hold 99.50% of the shares of Shanghai Yongtang. Shanghai Yongtang indirectly invested in Hangzhou Jianan Yunzhi Information Technology Co., Ltd. through Guihu Fund, and the company's final holding ratio of this investment project was less than 1%. Based on the fact that * ST Hanye indirectly holds Canaan Technology, the stock price of this stock has been rising continuously this year. As of March 18, * ST Hanye's stock price has increased by nearly 75% this year, and its market value is also close to 9 billion.</p><p><a href=\"https://laohu8.com/S/601788\">Everbright Securities</a>It was pointed out in a report that Canaan Technology was the first to deploy in Bitcoin's mining industry, and its mining machinery production capacity will be the most sufficient in 2021. Canaan Technology is currently<a href=\"https://laohu8.com/S/688981\">SMIC</a>The main customers of N+1 advanced manufacturing process have cooperated in the production of new mining machines (90TH/s), and have achieved batch spot shipments. The annual output is expected to exceed 400,000 units.</p><p>Canaan Technology is currently the only manufacturer with a multi-fab strategy. Due to the use of N+1 process chips for mass production, it has largely buffered the occupation of wafer production capacity by GPU mining graphics cards and 5G mobile phones. In the report, Everbright Securities predicts that the market size of the mining machinery industry this year will be approximately 22.6 billion RMB, and it is expected that the shipment volume in the first half of the year will be 270,000 units (150,000 units in SMIC,<a href=\"https://laohu8.com/S/TSM\">TSMC</a>120,000 units), and shipments in the second half of the year were 520,000 units (250,000 units from SMIC, 120,000 units from TSMC, and 150,000 units from others).</p><p>The annual new revenue of Bitcoin's mining industry may exceed 100 billion yuan. Everbright Securities pointed out that 2020-2024 is the fourth halving cycle of Bitcoin. The number of daily mining reward Bitcoin is 900, and the transaction fee is about 100, totaling about 1,000, at a price of 50,000 US dollars per piece. Calculated, the mining industry is expected to increase revenue by about 1000X50000X365 = 18 billion US dollars every year.</p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/2182a8a021a8689200e0ade3f44083dc","relate_stocks":{"159813":"芯片","CAN":"嘉楠科技"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121456431","content_text":"自从有了矿机芯片股票，基金经理买比特币的理由，多了很多。受比特币价格连续走高的影响，主营矿机芯片业务的中概股成为基金经理眼中的宠儿。截至北京时间3月20日收盘，在美上市的中概股嘉楠科技股价大跌4.5%。截至3月20日，嘉楠科技今年以来的股价涨幅超过5倍，最近6个月涨幅15倍，期间最高股价涨幅达到19倍，在连续回调一周后，截止3月20日，当前市值回落至284亿人民币。光大证券表示，挖矿行业每年有望新增收入180亿美金，嘉楠科技目前是中芯国际N+1先进制程的主要客户，合作进行新型矿机（90TH/s）的生产，并已实现批量现货出货，预计全年产量超过40万台。比特币价格远离挖矿成本，矿机需求火爆如果基金经理直接购买比特币，可能令稳健的传统投资者感到荒唐，但通过以购买“AI芯片公司股票”分享比特币的行情，看起来顺理成章的多。截至北京时间3月20收盘，在美上市的中概股嘉楠科技大跌4.5%，该股再去3月12日创出新高后，已连续回调一周。数据显示，嘉楠科技今年以来的股价涨幅超过5倍，最近6个月的股价涨幅按3月20日收盘计算达15倍，若按照3月12日计算，最高达到19倍，嘉楠科技截止目前回落后的市值为284亿人民币。嘉楠科技总部位于北京，是一家从事自主AI芯片研发、提供高性能计算服务的公司。更准确的说法，嘉楠科技是一家比特币矿机研发公司，该公司约90%的收入来自矿机芯片及其相关业务，矿机是比特币生态中最基础的一大环节。比特币价格持续走高的火爆行情，显著带动了挖矿的需求。“价格越高，挖矿的利益越大，比特币价格跌破5000美元后，矿机就卖不动了，连用电的成本都很为难。”华南地区的一位拥有比特币矿场的投资者在一次交流会上对券商中国记者表示，比特币矿机销售直接受比特币价格的影响，比特币价格如果太低，就会冲击挖矿的成本。按照3月18日的行情，比特币最新价格维持在58000美元附近，对挖矿的投资者而言，这是一个极具吸引力的价格，意味着比特币的价格远远高于挖矿的成本。价格高高在上的状况，刺激了比特币矿机的销售。今年3月2日，加密货币挖矿公司IntegratedVenturesInc宣布购买600台嘉楠科技生产的阿瓦隆A1246矿机(Avalon1246)。据悉，阿瓦隆A1246矿机算力为90T，是效率最高的矿机之一。此次交易金额达271.3万美元。矿机将分3次交付，预计3月交付300台，5月交付50台，8月交付250台。今年1月27日，也就是比特币价格维持在35000美元附近时，比特币的矿机就已经非常好卖了。据嘉楠耘智官方公众号消息，今年1月27日，嘉楠科技与矿业巨头CoreScientific签署6000台阿瓦隆矿机订单，并与初创公司DroneEnergy达成了矿机采购合作意向。在此之前，嘉楠科技还与HIVEBlockChain签署了6400台的矿机采购订单。机构扫货比特币帮了矿机公司大忙传统行业的机构投资者入场扫货比特币，拉高比特币的价格，远离挖矿的成本，帮了矿机公司的大忙。3月18日，港股上市公司美图公司发布公告，子公司MiracleVision于2021年3月17日根据加密货币投资计划在公开市场交易中进一步购买了：1.6万单位的以太币（根据以太币购买），总对价约为2840万美元；约386.09单位的比特币（根据比特币购买），总对价约为2160万美元。截至公告日期，美图已累计净购买了价值约9000万美元的加密货币。此前3月5日，美图公司公告，将在公开市场交易中购买1.5万单位的以太币和379.12单位的比特币，总对价分别约为2210万美元和1790万美元。美图在公告中表示，这些购买是根据该公司董事会先前批准的一项加密货币投资计划进行的，据此该集团计划，可以购买净额不超过1亿美元的加密货币，其资金来源为该公司现有的现金储备。后续该公司董事会根据密货市场情况，酌情执行加密货币投资计划。摩根大通策略师NikolaosPanigirtzoglou的一份报告显示，截至目前，散户投资者已经购买了超过187000枚比特币，而机构投资者大约购买了172684枚比特币。摩根士丹利的财富管理部门则在3月17日撰写的一份新的投资者报告，概述了加密货币作为新兴的可投资资产类别的情况。报告中称：要使投机性投资上升到可投资资产类别的水平，并在多元化的投资组合中发挥作用，就需要在供需双方都取得变革性进展。机构对比特币资产的态度变化是令人始料不及的。根据芝加哥商品交易所集团的数据，截至2021年2月，比特币期货未平仓头寸连续8个月至少增长了100%，这些合约所涉及的资本以145%的年率指数增长，从2020年2月底的1.56亿美元增长到一年后的23.4亿美元。这种涨幅是比特币价格去年425%涨幅的三倍多。这也进一步反映了机构投资者对这一资产类别的需求，已经达到了前所未有的水平。既然比特币价格上涨到5万美元以上后，投资者对交易比特币的兴趣大增，也使得挖掘比特币的矿场投资者变得有利可图。这意味着每挖出一枚比特币，便可以以5万美元以上的价格，在二级市场供应给投资者。3月18日消息，巴基斯坦开伯尔－普赫图赫瓦省计划建立两个由水力发电支持的加密货币矿场试点。此前1月13日，该省曾宣布启动两个国有比特币矿场，并称持该行动的立法法案已在该省议会中获得通过。而在十天前的3月8日，俄国防部《红星电视台》公布了一个在俄军“监督”下的大型加密货币矿场的信息。该矿场位于西伯利亚伊尔库茨克附近的一个水电站，该矿场拥有成千上万矿机。极寒的地理环境给矿场提供了良好的散热条件，以及低廉的水电费用。不过，有说法称，该“矿场”，是俄军和私人投资者分成的。挖矿行业每年新增收入或达1000亿各种矿场的建立，显著的拉动了对矿机的需求，作为矿机生产商的嘉楠科技备受基金经理宠幸。根据上市公司披露的信息，截至去年底的数据，约有接近20家基金持有嘉楠科技的股票。基金经理直接持有比特币，在当下可能令保守型的投资者感到荒唐，但通过购买“AI芯片公司”的名义持有嘉楠科技的股票，从而分享比特币的行情，看起来顺理成章的多。A股上市公司对嘉楠科技的投资，可能也是如此策略，以避免上市公司直接布局比特币，遭到监管机构的问询。券商中国记者注意到，*ST瀚叶出资20000万元持有上海雍棠99.50%的股份，上海雍棠通过趵虎基金间接投资了杭州嘉楠耘智信息科技有限公司，该公司对该投资项目的最终持有比例低于1%。基于*ST瀚叶间接持有嘉楠科技的事实，该股股价今年以来连续走高，截至3月18日，*ST瀚叶今年以来的股价涨幅接近75%，市值也接近90亿。光大证券在一份报告中指出，嘉楠科技最早布局比特币矿业，2021年矿机产能最为充足。嘉楠科技目前是中芯国际N+1先进制程的主要客户，合作进行新型矿机（90TH/s）的生产，并已实现批量现货出货，预计全年产量超过40万台。嘉楠科技则是目前唯一多晶圆厂策略的厂商。由于采用N+1制程芯片进行量产，在很大程度上缓冲了GPU挖矿显卡和5G手机对晶圆产能的占用。在报告中，光大证券预计今年矿机行业市场规模约为226亿元RMB，预计上半年出货量27万台（中芯国际15万台、台积电12万台），下半年出货量52万台（中芯国际25万台、台积电12万台、其它15万台）。比特币挖矿行业的年新增收入或超过1000亿元人民币。光大证券指出，2020-2024年为比特币的第四个减半周期，每日挖矿奖励比特币数量为900枚，交易手续费用约100枚，合计约1000枚，以5万美金/枚价格计算，挖矿行业每年有望新增收入约1000X50000X365=180亿美金。","news_type":1,"symbols_score_info":{"159813":0.9,"CAN":0.9}},"isVote":1,"tweetType":1,"viewCount":2704,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}