哈希價格接近歷史新低，比特幣挖礦業遭受重創

比特幣挖礦獲利指標（即哈希價格）暴跌至歷史最低點附近，顯示礦工面臨挑戰。由於比特幣減半、地緣政治緊張局勢和利率預期，這項代表礦工每算力賺取的收入的指標已降至 57 美元。減半並沒有顯著提振比特幣的價格，導致礦工越來越依賴費用收入和價格上漲。

Bitcoin Mining Faces Adversity as Hashprice Plummets to Near Record Low

隨著哈希價格暴跌至接近歷史低點，比特幣挖礦面臨逆境

Amidst an array of economic challenges, the cryptocurrency industry is witnessing a significant downturn in Bitcoin mining profitability. The hashprice, a metric that gauges the profitability of Bitcoin mining, has reached a level close to its all-time low in the aftermath of the collapse of Sam Bankman-Fried's FTX. This development indicates dire prospects for Bitcoin miners.

在一系列經濟挑戰中，加密貨幣產業的比特幣挖礦獲利能力正在大幅下滑。在山姆·班克曼-弗里德 (Sam Bankman-Fried) 的 FTX 崩潰後，衡量比特幣挖礦盈利能力的指標哈希價格已達到接近歷史低點的水平。這一發展預示著比特幣礦工的前景黯淡。

The precipitous decline in the hashprice follows Bitcoin's fourth "halving" event, which took place on April 20, 2023. During a halving, the reward miners receive for securing the Bitcoin network is reduced by half. While this quadrennial event has historically benefited Bitcoin, its impact has been minimal this time around. Instead, geopolitical tensions and expectations of sustained high interest rates in the United States have weighed heavily on Bitcoin and other cryptocurrencies.

2023 年 4 月 20 日比特幣第四次「減半」事件發生後，哈希價格急劇下跌。雖然這四年一度的事件在歷史上使比特幣受益，但這次的影響微乎其微。相反，地緣政治緊張局勢和美國持續高利率的預期嚴重影響了比特幣和其他加密貨幣。

According to data from Hashrate Index, the hashprice fell to $57 on Friday, May 26, 2023. This figure reflects the amount a miner can potentially earn from one petahash per second of computing power per day. The hashprice reached its all-time low of $55 shortly after the FTX implosion in November 2022.

根據 Hashrate Index 的數據，2023 年 5 月 26 日星期五，哈希價格跌至 57 美元。 2022 年 11 月 FTX 崩盤後不久，哈希價格就觸及 55 美元的歷史低點。

Immediately after the halving, the hashprice experienced a brief surge to $139. This increase was attributed to a spike in transaction fees due to the surge in activity surrounding the Rune protocol, which allows for the creation of non-fungible tokens (NFTs) on the Bitcoin blockchain. However, the rise proved短暂, as fees declined to pre-halving levels and mining difficulty escalated, as per data from CryptoQuant.

減半後，哈希價格立即短暫飆升至 139 美元。這一增長歸因於圍繞 Rune 協議的活動激增導致交易費用飆升，該協議允許在比特幣區塊鏈上創建不可替代的代幣（NFT）。然而，根據 CryptoQuant 的數據，隨著費用下降到減半前的水平並且挖礦難度不斷升級，這種上漲是短暫的。

With Bitcoin mining becoming exponentially more challenging and rewards being slashed, miners are increasingly dependent on fee revenue and gains in the token's value. To mitigate potential disruptions, large-scale miners like Marathon Digital Holdings Inc. and Riot Platforms Inc. have invested billions of dollars in mining equipment and data center infrastructure. Smaller and less well-capitalized entities, however, face the threat of market displacement.

隨著比特幣挖礦的難度呈指數級增長，獎勵也被大幅削減，礦工越來越依賴費用收入和代幣價值的增長。為了減輕潛在的干擾，Marathon Digital Holdings Inc. 和 Riot Platforms Inc. 等大型礦商已在採礦設備和資料中心基礎設施上投資了數十億美元。然而，規模較小且資本較差的實體面臨市場取代的威脅。

The Bitcoin mining industry remains in a state of flux, grappling with a confluence of economic headwinds. As the hashprice continues to hover near all-time lows, the profitability of Bitcoin mining is severely compromised, with smaller miners particularly vulnerable to elimination from the market. The long-term implications of this downturn on the Bitcoin network and the cryptocurrency ecosystem at large remain uncertain.

比特幣挖礦業仍處於不斷變化的狀態，正在努力應對經濟逆風的影響。隨著哈希價格繼續徘徊在歷史低點附近，比特幣挖礦的獲利能力受到嚴重損害，小型礦商特別容易被市場淘汰。這種低迷對比特幣網路和整個加密貨幣生態系統的長期影響仍然不確定。