比特幣（BTC）生態系統創下新紀錄，挖礦難度調整升至110.45T

比特幣（BTC）生態系統不斷刷新紀錄，挖礦難度調整升至110.45T（兆）的歷史新高。

The bitcoin (BTC) mining difficulty has hit a new record high of 110.45T (trillion) in the latest adjustment. This difficulty is approximately 110.45 trillion times harder than it was at the time of Bitcoin's genesis block.

比特幣（BTC）挖礦難度在最新調整中創下110.45T（兆）新高。這個難度比比特幣創世塊時的難度大約是 110.45 兆倍。

The difficulty adjustment, which occurs every 2,016 blocks, is designed to ensure that blocks are mined on average every 10 minutes.

每 2,016 個區塊進行一次難度調整，旨在確保平均每 10 分鐘開採出一個區塊。

This adjustment marks the eighth consecutive positive difficulty adjustment, putting further pressure on miners as the industry becomes more competitive and difficult to mine a block and receive bitcoin rewards.

這項調整標誌著連續第八次積極的難度調整，隨著行業競爭變得更加激烈，開採區塊和獲得比特​​幣獎勵變得更加困難，給礦工帶來了進一步的壓力。

This difficulty has led some publicly traded miners to pivot into the high-performance computing (HPC) and artificial intelligence (AI) industries, as they are unable to sustain their operations solely through bitcoin mining.

這種困難導致一些上市礦商轉向高效能運算（HPC）和人工智慧（AI）產業，因為他們無法僅透過比特幣挖礦來維持營運。

Notably, MARA Holdings (MARA) has issued convertible bonds to acquire bitcoin and is also optimizing revenue by lending out its bitcoin to generate single-digit yields.

值得注意的是，MARA Holdings (MARA) 已發行可轉換債券來收購比特幣，並透過出借比特幣以產生個位數的收益率來優化收入。

It's worth noting that this is not the first time we've seen a high number of consecutive positive adjustments. During the summer of 2021, shortly after the China mining ban, which saw the hashrate drop by about 50%, the difficulty also made nine consecutive positive adjustments.

值得注意的是，這並不是我們第一次看到大量連續正向調整。 2021年夏天，中國解禁後不久，算力下降了約50%，難度也連續九次正向調整。

After this event, from July to November 2021, the difficulty adjustment saw nine consecutive positive adjustments, with the final adjustment coinciding with the bull market top when bitcoin reached around $69,000, before entering a bear market for the whole of 2022. The last positive adjustment marked the top in 2021.

此次事件之後，從2021年7月到2021年11月，難度調整連續九次正向調整，最後一次調整恰逢比特幣達到69000美元左右的牛市見頂，之後進入2022年全年熊市。一次正向調整2021 年達到高峰。

Interestingly, in 2018, the opposite occurred. Bitcoin made 17 positive adjustments from December 2017, coinciding with the bull market top when bitcoin was around $20,000. A small negative adjustment followed in July 2018, when the price was roughly $6,000.

有趣的是，2018 年卻出現了相反的情況。比特幣自2017年12月以來出現了17次積極調整，恰逢比特幣2萬美元左右的牛市見頂。隨後在 2018 年 7 月出現了小幅負調整，當時價格約為 6,000 美元。

The network then went on to make six consecutive positive adjustments before seeing multiple negative adjustments around Q4 2018, when bitcoin put in its bottom for the cycle at around $3,000.

隨後，該網路連續進行了六次積極調整，然後在 2018 年第四季左右出現多次消極調整，當時比特幣在 3,000 美元左右觸底進入周期。

While there seems to be no clear trend when bitcoin makes this many positive consecutive adjustments, it has indicated near cycle tops and bottoms in the past.

雖然比特幣進行如此多的連續積極調整似乎沒有明顯的趨勢，但它在過去已經表明接近週期頂部和底部。

However, it's crucial to note the continued strength of the hashrate, which, on a 7-day moving average, is at 775 EH/s. CoinDesk research suggests that 1 zettahash per second can be reached before the next halving.

然而，值得注意的是算力的持續強勁，根據 7 天移動平均線，算力為 775 EH/s。 CoinDesk 研究表明，在下一次減半之前，每秒可以達到 1 zettahash。