尽管矿工收入有所增长，但比特币（BTC）算力上升趋势暂停

链上数据显示，尽管矿工收入目前处于显着水平，但比特币算力最近暂停了上升趋势。

The latest cryptocurrency market analysis from CryptoQuant reveals that Bitcoin miner revenue has seen a recent uptick, reaching levels not seen since the fourth Halving in April 2024.

CryptoQuant 最新的加密货币市场分析显示，比特币矿机收入近期有所上升，达到 2024 年 4 月第四次减半以来的最高水平。

As per a new X post, surprising metrics have been observed in the realm of Bitcoin mining. The Total Miner Revenue, a crucial indicator that gauges the collective earnings of BTC miners, has seen a notable rise recently. This revenue is generated primarily through two channels: block subsidy and transaction fees.

根据新的 X 帖子，在比特币挖矿领域观察到了令人惊讶的指标。矿工总收入是衡量比特币矿工集体收入的重要指标，最近出现了显着上升。该收入主要通过两个渠道产生：集体补贴和交易费用。

Miners undertake the essential task of validating transactions and securing the Bitcoin network, and their income is directly tied to these activities. The block subsidy, awarded by the network, compensates miners for solving blocks and is fixed in BTC value. On the other hand, transaction fees are paid by individual network users and can vary significantly.

矿工承担着验证交易和保护比特币网络安全的基本任务，他们的收入与这些活动直接相关。区块补贴由网络授予，用于补偿矿工解决区块的问题，并固定在 BTC 价值中。另一方面，交易费用由各个网络用户支付，并且可能存在很大差异。

The amount of fee attached by users depends on the prevailing network traffic conditions. With limited blockspace available, senders prioritizing faster delivery must offer sufficient incentives to attract miners' attention. Typically, transaction fees constitute a smaller portion of miner revenue compared to the block subsidy.

用户收取的费用取决于当时的网络流量情况。由于可用的区块空间有限，优先考虑更快交付的发送者必须提供足够的激励措施来吸引矿工的注意力。通常，与区块补贴相比，交易费用在矿工收入中所占的比例较小。

Now, let's delve into some interesting cryptocurrency market data. The chart below showcases the Total Miner Revenue for Bitcoin over the last several years, offering insights into the historical trends.

现在，让我们深入研究一些有趣的加密货币市场数据。下图显示了过去几年比特币矿工的总收入，提供了对历史趋势的洞察。

The chart reveals a surge in Total Miner Revenue to highs in early 2024, followed by a sharp decline around April. This drastic shift can be attributed to the fourth Halving, an event that permanently reduces the block subsidy by half.

该图表显示，矿工总收入在 2024 年初飙升至高位，随后在 4 月份左右急剧下降。这种巨大的转变可以归因于第四次减半，这一事件将区块补贴永久减少一半。

Miners' income is heavily reliant on the block subsidy, making this event particularly impactful on their financial well-being. The higher the subsidy, the greater the potential for miners to earn substantial revenue.

矿工的收入严重依赖区块补贴，这使得这一事件对他们的财务状况影响特别大。补贴越高，矿工赚取可观收入的潜力就越大。

The indicator's recovery is evident in the recent uptick, reaching levels of around $45 million. This marks a significant improvement compared to the previous cycles, but still falls short of the peak observed in early 2024.

该指标的复苏在近期的上涨中显而易见，达到了 4500 万美元左右的水平。与之前的周期相比，这标志着显着改善，但仍低于 2024 年初观察到的峰值。

Several factors contribute to this increase in Total Miner Revenue, including rising activity on the blockchain and, notably, the appreciation in Bitcoin's price. The USD value of the block subsidy naturally increases as the asset's spot price rises.

有几个因素导致了矿工总收入的增加，包括区块链活动的增加，尤其是比特币价格的升值。随着资产现货价格的上涨，整笔补贴的美元价值自然会增加。

An interesting observation is that despite the high revenue levels, Hashrate, a measure of the total computational power dedicated by miners to the blockchain, has shown a pause in its uptrend.

一个有趣的观察是，尽管收入水平很高，但算力（衡量矿工专用于区块链的总计算能力的指标）却显示出其上升趋势的暂停。

This metric, often used to gauge miner sentiment, suggests a cautious approach by these chain validators as they halt their expansion, possibly awaiting clarity on the fate of BTC's bull run emerging from this current volatile phase.

这一指标通常用于衡量矿工情绪，表明这些链验证者在停止扩张时采取谨慎态度，可能是在等待 BTC 从当前波动阶段出现的牛市命运的明朗。

Bitcoin Price

比特币价格

The price of Bitcoin has been on a roller coaster ride the last few days, with large swings in both directions. Currently, the coin is up, trading at $105,000.

过去几天，比特币的价格就像过山车一样，双向波动较大。目前，该代币正在上涨，交易价格为 105,000 美元。