比特幣礦工擺脫減半的影響，算力達到歷史峰值

在第四次比特幣減半事件之後，礦工們表現出了韌性，7 天平均算力已達到 650 EH/s 的歷史新高。雖然自事件發生以來算力略有下降，但仍保持在 ATH 水平附近。這表明礦工並沒有因區塊獎勵的減少而受到太大阻礙，並且可能會受到與符文引入相關的交易費用收入激增的提振。

Bitcoin Miners Unfazed by Halving, Hashrate Hits New All-Time High

比特幣礦工未受減半影響，算力創歷史新高

Introduction

介紹

Bitcoin's highly anticipated fourth Halving event has come to pass, significantly reducing the block rewards earned by miners for validating transactions on the network. While such reductions have historically led to declines in hashrate, the opposite has occurred this time, with Bitcoin's 7-day average hashrate reaching an unprecedented peak. This suggests unwavering enthusiasm among miners despite the income reduction.

比特幣備受期待的第四次減半事件已經發生，顯著減少了礦工驗證網路交易而獲得的區塊獎勵。雖然這種減少在歷史上會導致算力下降，但這次卻出現了相反的情況，比特幣的 7 天平均算力達到了前所未有的峰值。這顯示儘管收入減少，礦工的熱情依然堅定不移。

Halving and Hashrate

減半和算力

Halving is an integral part of Bitcoin's design, programmed to occur approximately every four years. It involves a 50% decrease in the block rewards, currently standing at 3.125 BTC per block, down from 6.25 BTC. This reduction forces miners to rely increasingly on transaction fees for profitability.

減半是比特幣設計的一個組成部分，計劃大約每四年發生一次。它涉及區塊獎勵減少 50%，目前為每個區塊 3.125 BTC，低於 6.25 BTC。這種減少迫使礦工越來越依賴交易費來獲取獲利。

Historical Hashrate Trends

歷史算力趨勢

In the past, Halvings have typically been followed by temporary declines in hashrate as some miners find it less economically viable to participate in the network. However, this time around, the Bitcoin hashrate has surged to new highs, indicating that a significant number of miners remain committed to the ecosystem.

在過去，減半後通常會出現算力暫時下降，因為一些礦工發現參與網路在經濟上不太可行。然而，這一次，比特幣算力飆升至新高，顯示大量礦工仍然致力於該生態系統。

Current Hashrate Dynamics

目前算力動態

On the day of the Halving, May 11, 2020, the 7-day average Bitcoin hashrate spiked to an all-time high of 650 EH/s. While it has since receded slightly to around 629 EH/s, it remains significantly elevated compared to pre-Halving levels. This suggests that the majority of miners have not been significantly impacted by the block reward reduction.

2020 年 5 月 11 日減半當天，比特幣 7 天平均算力飆升至 650 EH/s 的歷史新高。雖然此後略有回落至 629 EH/s 左右，但與減半前的水平相比仍顯著升高。這表明大多數礦工並未受到區塊獎勵減少的重大影響。

Factors Supporting High Hashrate

高算力的支撐因素

Analysts attribute the sustained hashrate to several factors. Firstly, the recent surge in transaction fees due to the introduction of Runes for Bitcoin has provided miners with an additional source of revenue. While the fee premium has somewhat subsided, it still accounts for a substantial portion of miner income.

分析師將持續的算力歸因於幾個因素。首先，由於比特幣符文的引入，最近交易費用激增，為礦工提供了額外的收入來源。儘管費用溢價有所下降，但仍佔礦工收入的很大一部分。

Secondly, the overall bullish sentiment surrounding Bitcoin, with its price hovering around $66,100 at the time of writing, has likely boosted miner confidence. The sustained demand for Bitcoin, coupled with the expectation of further price appreciation, may have incentivized miners to invest in hardware and expand their operations.

其次，圍繞比特幣的整體看漲情緒（截至撰寫本文時其價格徘徊在 66,100 美元左右）可能提振了礦商信心。對比特幣的持續需求，加上價格進一步升值的預期，可能會激勵礦工投資硬體並擴大業務。

Implications for the Bitcoin Ecosystem

對比特幣生態系統的影響

The unprecedented hashrate following the Halving underscores the resilience and commitment of the Bitcoin mining community. It demonstrates that miners are willing to adjust their strategies and remain active even in the face of reduced block rewards.

減半後前所未有的算力凸顯了比特幣挖礦社群的韌性和承諾。這表明即使面對區塊獎勵減少，礦工也願意調整策略並保持活躍。

A sustained hashrate ensures network security and transaction processing capabilities, maintaining Bitcoin's integrity as a censorship-resistant and reliable store of value. Moreover, it indicates that miners remain optimistic about the long-term prospects of Bitcoin, signaling continued growth and adoption of the cryptocurrency.

持續的算力可確保網路安全和交易處理能力，保持比特幣作為抗審查和可靠價值儲存的完整性。此外，這表明礦工對比特幣的長期前景保持樂觀，這表明加密貨幣的持續成長和採用。

Conclusion

結論

While the immediate impact of the Bitcoin Halving on miners is still evolving, the surge in hashrate is a positive sign that the mining community remains steadfast in its support of the Bitcoin network. The sustained hashrate suggests that miners are confident in Bitcoin's future and are adapting to the reduced block rewards by exploring alternative revenue streams. As such, the Bitcoin ecosystem remains robust and well-equipped to handle the ongoing demand for its services.

雖然比特幣減半對礦工的直接影響仍在不斷演變，但算力的飆升是一個積極的信號，表明採礦社區仍然堅定地支持比特幣網路。持續的算力表明礦工對比特幣的未來充滿信心，並透過探索替代收入來源來適應區塊獎勵的減少。因此，比特幣生態系統仍然強大且裝備精良，可以滿足對其服務的持續需求。