儘管價格暴跌，比特幣（BTC）礦商仍堅持不懈，算力仍接近歷史最高水平

鏈上數據顯示，儘管比特幣價格暴跌，但比特幣挖礦算力最近仍保持在歷史最高點（ATH）附近。

The 7-day average Bitcoin mining hashrate stood at 788 terahashes per second (TH/s) on Monday, showing a slight decrease from the all-time high (ATH) of 801 TH/s observed earlier this month.

週一，比特幣 7 天平均挖礦算力為每秒 788 太哈哈希 (TH/s)，較本月早些時候觀察到的 801 TH/s 的歷史最高點 (ATH) 略有下降。

Despite the recent plunge in BTC’s price, the hashrate has remained at a high value.

儘管近期比特幣價格暴跌，但算力仍維持在高位。

Bitcoin 7-Day Average Mining Hashrate Value Still Shows A High

比特幣7日平均挖礦算力價值仍處於較高水平

Miners play an essential role in the Bitcoin network by verifying transactions and adding them to the blockchain. The hashrate serves as an indicator of the total computational power connected to the Bitcoin blockchain by all miners.

礦工透過驗證交易並將其添加到區塊鏈中，在比特幣網路中發揮重要作用。哈希率是所有礦工連接到比特幣區塊鏈的總運算能力的指標。

When the value of this metric rises, it usually indicates that either new miners are joining the network or existing miners are expanding their operations. Both scenarios suggest that these chain validators are finding BTC mining to be lucrative.

當該指標的值上升時，通常表示新礦工正在加入網路或現有礦工正在擴大其業務。這兩種情況都表明，這些鏈驗證者發現 BTC 挖礦利潤豐厚。

On the other hand, a decline in the indicator could mean that some miners have decided to disconnect their machines, possibly because they’re no longer finding the activity profitable.

另一方面，該指標的下降可能意味著一些礦工決定斷開他們的機器，可能是因為他們不再發現該活動有利可圖。

The 7-day average Bitcoin mining hashrate, as observed on Blockchain.com, can be seen in the chart below:

根據 Blockchain.com 觀察到的 7 天平均比特幣挖礦算力如下圖所示：

The 7-day average Bitcoin mining hashrate set an ATH on the 15th of this month, as can be seen in the graph above. BTC hit its top a couple of days later and has since followed an overall downward trajectory.

7 天平均比特幣挖礦算力在本月 15 日創下了 ATH，如上圖所示。比特幣幾天後觸頂，此後整體呈現下降趨勢。

The indicator has also declined during this period, but it’s interesting to note that the drawdown in its case has been quite small. At the ATH, the hashrate was around 801 TH/s, while today it stands at 788 TH/s, showing a decrease of just 1.5%.

該指標在此期間也有所下降，但有趣的是，其下降幅度相當小。 ATH 時的算力約為 801 TH/s，而如今為 788 TH/s，僅下降了 1.5%。

Generally, the price of the coin tends to be a big factor in the revenue of BTC miners, so the trend in the mining hashrate also tends to follow the price action.

一般來說，比特幣的價格往往是比特幣礦工收入的重要因素，因此挖礦算力的趨勢也常跟著價格走勢。

This dependency arises from the fact that the block subsidy, a BTC reward that validators receive as compensation for mining blocks, remains fixed in BTC value and is paid out at a more or less constant rate of time, leaving only the price as the variable attached to it.

這種依賴性源於這樣一個事實：區塊補貼（驗證者作為挖礦區塊的補償而獲得的BTC 獎勵）保持固定的BTC 價值，並以或多或少恆定的時間速率支付，只留下價格作為附加變數到它。

Thus, given this relationship, it’s interesting that the hashrate didn’t plunge during the recent price crash. However, it’s worth noting that price may not be the only factor putting a squeeze on the miners’ revenue, as the mining difficulty has also been at a record value.

因此，考慮到這種關係，有趣的是，在最近的價格暴跌期間，算力並沒有暴跌。然而值得注意的是，價格可能並不是擠壓礦工收入的唯一因素，因為挖礦難度也創下了歷史新高。

Bitcoin Mining Difficulty, Hashrate Relationship

比特幣挖礦難度、算力關係

The mining difficulty is a feature built into the Bitcoin blockchain that controls how hard miners would find it to mine the cryptocurrency at any given point.

挖礦難度是比特幣區塊鏈中內建的功能，它控制礦工在任何給定點挖掘加密貨幣的難度。

As mentioned earlier, the block subsidy is given out at a nearly constant rate of time. The only reason this is possible is thanks to the existence of the difficulty.

如前所述，整筆補貼以幾乎恆定的時間速率發放。這是可能的唯一原因是困難的存在。

Whenever miners increase the hashrate, they become faster at their task and, thus, produce blocks at a faster pace. To counteract this, the network increases the difficulty in the next biweekly adjustment, bringing the miners back to the standard pace of 10 minutes per block.

每當礦工提高算力時，他們的任務就會變得更快，從而以更快的速度生產區塊。為了解決這個問題，網路在接下來的每兩週調整中增加了難度，讓礦工回到每個區塊 10 分鐘的標準速度。

A consequence of this is that no matter how many miners join the network, the total reward pool always stays the same. So, with the hashrate sitting near an ATH and the coin being harder to mine than ever before, the revenue of individual miners must be quite constrained indeed.

這樣做的結果是，無論有多少礦工加入網絡，總獎勵池始終保持不變。因此，隨著算力接近 ATH，而且比特幣比以往任何時候都更難開採，個體礦工的收入確實受到了相當的限制。

Despite these conditions, the Bitcoin miners have still not decided to scale back on their operations, which suggests they are expecting the bullish momentum to make a return.

儘管存在這些情況，比特幣礦商仍然沒有決定縮減其營運規模，這表明他們預計看漲勢頭將會回歸。