比特幣採礦從來都不是在公園裡散步，但是最近，它已成為真正的障礙課程

這可能是當下的悖論：比特幣的hashprice，該指南指示礦工每秒賺取的礦工賺取的錢（pH/s）

Bitcoin mining has never been a walk in the park, but lately, it has become a real obstacle course. The sector must juggle a delicate equation: a hashprice that remains stagnant, rising difficulty, and transaction fees that melt away like snow in the sun. The result? Several miners will soon have to put the key under the doormat…

比特幣採礦從來都不是在公園裡散步，但是最近，它已成為真正的障礙路線。該行業必須兼顧一個精緻的方程式：一種懸停，難度上升和交易費用的哈希值，就像陽光下的雪一樣融化。結果？幾個礦工很快將不得不將鑰匙放在拖鞋下……

Bitcoin mining: a stable hashprice, but at what cost?

比特幣採礦：穩定的Hashprice，但是以多少代價？

This may be the paradox of the moment: the bitcoin hashprice, this compass that indicates what miners earn for each petahash per second (PH/s), remains stuck around $48. Yet, the network difficulty – in other words, the complexity of the calculations to be solved to validate a block – jumped by 1.4%, reaching 113.76 trillion on March 23. In short, we are rowing harder for the same salary.

這可能是當下的悖論：比特幣Hashprice，該指南指示礦工每秒賺取的礦工賺取的收入（ph/s），仍然停留在48美元左右。然而，網絡難度 - 換句話說，要解決的計算的複雜性以驗證一個障礙 - 躍升了1.4％，3月23日達到113.76萬億。

And that’s where it gets tricky for bitcoin miners who do not have top-of-the-line machines. The Antminer S19 XP or S19 Pro, once the stars of the hashrate, are now seeing their revenues collapse to $0.088 and $0.067 per kilowatt-hour. One could say that with energy costs skyrocketing everywhere, some must start looking at their equipment with a sad eye (or even consider selling it for parts…).

對於沒有頂級機器的比特幣礦工來說，這就是棘手的地方。 Antminer S19 XP或S19 Pro曾經是Hashrate的星星，現在他們的收入崩潰至0.088美元和每千瓦時0.067美元。可以說，隨著到處的能源成本飛漲，有些人必須以悲傷的眼睛開始看他們的設備（甚至考慮將其出售給零件……）。

Transaction fees: the major absentees of the moment

交易費：當下的主要缺席者

Another unpleasant surprise: transaction fees, which now represent only 1.12% of total block rewards. We haven’t seen this since January 2022! Consequently, bitcoin miners can no longer rely too much on these little bonuses to round out their end-of-block pay. The dependence on fixed rewards (which is set to decrease with the upcoming halving) thus becomes total.

另一個令人不愉快的驚喜：交易費用，現在僅佔總獎勵的1.12％。自2022年1月以來，我們還沒有看到這一點！因此，比特幣礦工再也無法依靠這些小獎金來解決他們的結束薪水。因此，對固定獎勵的依賴性（將隨著即將到來的減半而減少）。

As if it weren’t complicated enough, network difficulty could still increase by 16.05% in the next adjustment scheduled for April 4, 2025. We’re talking about a rise to 132.02 trillion. If this projection turns out to be accurate, bitcoin miners may have to push even harder on the pedal to move… at a crawl.

好像還不夠複雜，在計劃於2025年4月4日的下一個調整中，網絡難度仍然可以增加16.05％。我們正在談論的是上升至132.02萬億。如果這種投影是準確的，那麼比特幣礦工可能必須在踏板上更加努力地移動……爬行。

In this context, profitability becomes a balancing act. Energy optimization, migration to less expensive regions, or investment in top-notch equipment: the options are on the table, but none are simple. Bitcoin mining, more than ever, requires solid nerves, sharp strategy… and perhaps a touch of faith in the hashrate.

在這種情況下，盈利能力成為平衡行為。能源優化，遷移到較便宜的區域或對一流設備的投資：選項在桌上，但沒有一個簡單。比特幣採礦比以往任何時候都需要堅實的神經，敏銳的策略……也許對哈希酸鹽的信念有所了解。

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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.

世界正在發展，適應是在這個起伏的宇宙中生存的最佳武器。我最初是加密社區經理，我對與區塊鍊及其衍生物直接或間接相關的任何事物感興趣。為了分享我的經驗並促進我熱衷的領域，沒有什麼比撰寫內容豐富且放鬆的文章更好。