ChainCatcher 消息，据市场消息，美国比特币公司（NASDAQ: ABTC）最新季报披露，该公司于今年以 49,400,000 美元向 Bitmain 采购约 11,298 台 S21 XP ASIC 矿机（算力约 3.05 EH/s），其中 80% 货款通过质押 314 枚 BTC 完成支付。
据此推算，质押比特币的协议估值约为 12.59 万美元/枚，而彼时 BTC 市场均价不足 70,000 美元，折扣幅度约达 44%。根据协议，Bitmain 在约 24 个月的赎回期内不得强制清算抵押 BTC。若到期时 BTC 价格高于协议估值，ABTC 可选择以现金偿还并取回 BTC，锁定升值收益；若低于协议估值，则可放弃赎回，将 BTC 留给 Bitmain。该结构实质上赋予 ABTC 一个长期比特币看涨期权。
截至 2026 年 3 月 31 日，ABTC 已累计向 Bitmain 质押 3,090 枚 BTC，公允价值约 210,800,000 美元，对应矿机采购负债约 364,300,000 美元。
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