儘管減半，比特幣挖礦難度仍躍升至歷史新高

週三，比特幣挖礦難度飆升 2%，創下上週減半事件後的歷史新高。這標誌著減半後第一次調整的難度首次增加，這可能表明比特幣採礦業發生了變化，因為交易費獎勵現在佔礦工收入的較大部分。

Bitcoin Mining Difficulty Soars to Record High Despite Halving Event

儘管發生減半事件，比特幣挖礦難度仍飆升至歷史新高

In an unprecedented turn of events, Bitcoin's mining difficulty has escalated by 2% to an all-time high, defying the historical trend following halving events. This remarkable increase, achieved at block height 840,672, has propelled difficulty to a staggering 88.1 trillion, as reported by Bitbo data. This marks a significant departure from previous halvings, where the first difficulty adjustment generally entailed a decline.

在史無前例的事件中，比特幣的挖礦難度已上升 2% 至歷史新高，違反了減半事件後的歷史趨勢。根據 Bitbo 數據顯示，這一顯著增長是在區塊高度 840,672 處實現的，已將難度推至驚人的 88.1 兆。這與之前的減半有很大不同，之前的第一次難度調整通常會導致難度下降。

In contrast to the substantial reductions observed in earlier halvings, Bitcoin's hashrate has exhibited exceptional resilience, hovering near record levels. The seven-day moving average has climbed from 630 EH/s pre-halving to 640 EH/s post-halving, indicating unwavering miner participation. This surge in hashrate can be attributed to a substantial increase in transaction fee rewards, which have outpaced the reduction in block subsidy rewards.

與先前減半時觀察到的大幅下降相比，比特幣的算力表現出了非凡的彈性，徘徊在歷史最高水準附近。 7日移動均線已從減半前的630 EH/s攀升至減半後的640 EH/s，顯示礦工參與堅定不移。算力的激增可歸因於交易費用獎勵的大幅增加，其幅度超過了區塊補貼獎勵的減少幅度。

Following the halving, block 840,000 generated an impressive $2.4 million in transaction fees, far exceeding the $200,000 block subsidy reward. This unprecedented event marked the beginning of a remarkable 104-block streak where transaction fee rewards surpassed the block subsidy, as documented by Bitcoin explorer Mempool.

減半後，區塊 84 萬產生了令人印象深刻的 240 萬美元交易費用，遠遠超過了 20 萬美元的區塊補貼獎勵。根據比特幣瀏覽器 Mempool 的記錄，這一史無前例的事件標誌著驚人的 104 個區塊連續增長的開始，其中交易費用獎勵超過了區塊補貼。

Transaction fee rewards have emerged as a significant source of revenue for miners, accounting for approximately 40% of total block rewards on average over the past week, compared to 10% prior to the halving. This surge has compensated for the halving's reduction in block subsidy, preserving miners' profitability.

交易費獎勵已成為礦工的重要收入來源，過去一週平均佔區塊獎勵總額的 40% 左右，而減半前則為 10%。這種激增補償了減半帶來的區塊補貼減少，從而維持了礦商的獲利能力。

The current surge in transaction fee activity can be largely attributed to the hype surrounding Runes, a newly introduced fungible token standard for Bitcoin. This speculative activity, driven primarily by retail traders, has resulted in a surge in token minting.

目前交易費用活動的激增很大程度上歸因於圍繞符文的炒作，符文是一種新推出的比特幣可替代代幣標準。這種投機活動主要由零售交易者推動，導致代幣鑄造量激增。

While transaction fees have since moderated from their initial peak, Runes transactions continue to represent a significant portion of Bitcoin transactions, accounting for approximately 42%. Over 3 million Runes transactions have been processed since launch, generating more than 2098 bitcoin ($130 million) in fees.

雖然交易費用已從最初的高峰有所放緩，但符文交易仍佔比特幣交易的很大一部分，約佔 42%。自推出以來，已處理超過 300 萬筆符文交易，產生超過 2,098 比特幣（1.3 億美元）的費用。

Despite the potential impact of declining transaction fee rewards as the hype subsides, analysts anticipate a sustainable 15% of miner revenues to stem from this source.

儘管隨著炒作的消退，交易費用獎勵下降可能會產生影響，但分析師預計，礦工收入的 15% 可持續來自這一來源。

The increase in total hashrate and difficulty following the halving also highlights the maturing Bitcoin mining industry. The consolidation of mining operations toward large-scale facilities has enhanced efficiency and scalability, while reducing the prevalence of small-scale or home mining operations.

減半後總算力和難度的增加也凸顯了比特幣挖礦業的成熟。採礦作業向大型設施的整合提高了效率和可擴展性，同時減少了小規模或家庭採礦作業的流行。

Public miners, such as CleanSpark, Marathon, Riot Platforms, and Cipher Mining, have significantly expanded their operations in recent years. Despite recent market volatility, some miners remain at all-time highs in terms of revenue, demonstrating the resilience of the industry post-halving.

CleanSpark、Marathon、Riot Platforms 和 Cipher Mining 等公共礦工近年來顯著擴大了業務。儘管近期市場波動較大，但一些礦商的收入仍處於歷史高位，顯示了減半後產業的韌性。

As Bitcoin's fourth halving event concludes, attention shifts to the future developments leading up to the next halving, estimated to occur in April 2028. Industry experts speculate on potential outcomes, including a projected price target of $250,000.

隨著比特幣第四次減半事件的結束，人們的注意力轉向了預計將於2028 年4 月發生的下一次減半的未來發展。價格目標。