尽管价格暴跌，但比特币（BTC）矿工仍坚持到底，因为算力仍接近历史最高水平

链上数据显示，尽管比特币价格暴跌，但比特币挖矿算力最近仍保持在历史最高点（ATH）附近。

The 7-day average Bitcoin mining hashrate stood at 788 terahashes per second (TH/s) on Monday, showing a slight decrease from the all-time high (ATH) of 801 TH/s observed earlier this month.

周一，比特币 7 天平均挖矿算力为每秒 788 太哈哈希 (TH/s)，较本月早些时候观察到的 801 TH/s 的历史最高点 (ATH) 略有下降。

Despite the recent plunge in BTC’s price, the hashrate has remained at a high value.

尽管近期比特币价格暴跌，但算力仍保持在高位。

Bitcoin 7-Day Average Mining Hashrate Value Still Shows A High

比特币7日平均挖矿算力价值仍处于较高水平

Miners play an essential role in the Bitcoin network by verifying transactions and adding them to the blockchain. The hashrate serves as an indicator of the total computational power connected to the Bitcoin blockchain by all miners.

矿工通过验证交易并将其添加到区块链中，在比特币网络中发挥着重要作用。哈希率是所有矿工连接到比特币区块链的总计算能力的指标。

When the value of this metric rises, it usually indicates that either new miners are joining the network or existing miners are expanding their operations. Both scenarios suggest that these chain validators are finding BTC mining to be lucrative.

当该指标的值上升时，通常表明新矿工正在加入网络或现有矿工正在扩大其业务。这两种情况都表明，这些链验证者发现 BTC 挖矿利润丰厚。

On the other hand, a decline in the indicator could mean that some miners have decided to disconnect their machines, possibly because they’re no longer finding the activity profitable.

另一方面，该指标的下降可能意味着一些矿工决定断开他们的机器，可能是因为他们不再发现该活动有利可图。

The 7-day average Bitcoin mining hashrate, as observed on Blockchain.com, can be seen in the chart below:

根据 Blockchain.com 观察到的 7 天平均比特币挖矿算力如下图所示：

The 7-day average Bitcoin mining hashrate set an ATH on the 15th of this month, as can be seen in the graph above. BTC hit its top a couple of days later and has since followed an overall downward trajectory.

7 天平均比特币挖矿算力在本月 15 日创下了 ATH，如上图所示。比特币几天后触顶，此后整体呈下降趋势。

The indicator has also declined during this period, but it’s interesting to note that the drawdown in its case has been quite small. At the ATH, the hashrate was around 801 TH/s, while today it stands at 788 TH/s, showing a decrease of just 1.5%.

该指标在此期间也有所下降，但有趣的是，其下降幅度相当小。 ATH 时的算力约为 801 TH/s，而今天则为 788 TH/s，仅下降了 1.5%。

Generally, the price of the coin tends to be a big factor in the revenue of BTC miners, so the trend in the mining hashrate also tends to follow the price action.

一般来说，比特币的价格往往是比特币矿工收入的一个重要因素，因此挖矿算力的趋势也往往跟随价格走势。

This dependency arises from the fact that the block subsidy, a BTC reward that validators receive as compensation for mining blocks, remains fixed in BTC value and is paid out at a more or less constant rate of time, leaving only the price as the variable attached to it.

这种依赖性源于这样一个事实：区块补贴（验证者作为挖矿区块的补偿而获得的 BTC 奖励）保持固定的 BTC 价值，并以或多或少恒定的时间速率支付，只留下价格作为附加变量到它。

Thus, given this relationship, it’s interesting that the hashrate didn’t plunge during the recent price crash. However, it’s worth noting that price may not be the only factor putting a squeeze on the miners’ revenue, as the mining difficulty has also been at a record value.

因此，考虑到这种关系，有趣的是，在最近的价格暴跌期间，算力并没有暴跌。然而值得注意的是，价格可能并不是挤压矿工收入的唯一因素，因为挖矿难度也创下了历史新高。

Bitcoin Mining Difficulty, Hashrate Relationship

比特币挖矿难度、算力关系

The mining difficulty is a feature built into the Bitcoin blockchain that controls how hard miners would find it to mine the cryptocurrency at any given point.

挖掘难度是比特币区块链中内置的一项功能，它控制矿工在任何给定点挖掘加密货币的难度。

As mentioned earlier, the block subsidy is given out at a nearly constant rate of time. The only reason this is possible is thanks to the existence of the difficulty.

如前所述，整笔补贴以几乎恒定的时间速率发放。这是可能的唯一原因是困难的存在。

Whenever miners increase the hashrate, they become faster at their task and, thus, produce blocks at a faster pace. To counteract this, the network increases the difficulty in the next biweekly adjustment, bringing the miners back to the standard pace of 10 minutes per block.

每当矿工提高算力时，他们的任务就会变得更快，从而以更快的速度生产区块。为了解决这个问题，网络在接下来的每两周调整中增加了难度，让矿工回到每个区块 10 分钟的标准速度。

A consequence of this is that no matter how many miners join the network, the total reward pool always stays the same. So, with the hashrate sitting near an ATH and the coin being harder to mine than ever before, the revenue of individual miners must be quite constrained indeed.

这样做的结果是，无论有多少矿工加入网络，总奖励池始终保持不变。因此，随着算力接近 ATH，而且比特币比以往任何时候都更难开采，个体矿工的收入确实受到了相当的限制。

Despite these conditions, the Bitcoin miners have still not decided to scale back on their operations, which suggests they are expecting the bullish momentum to make a return.

尽管存在这些情况，比特币矿商仍然没有决定缩减其运营规模，这表明他们预计看涨势头将会回归。