比特币矿工通过费用减半和新协议获得动力

在比特币近期减半期间，交易费用已成为矿工利润丰厚的收入来源，来自费用的百分比达到了历史最高的 75%。面临区块奖励减少的矿工在减半后出售了所持股份，以资助更高效设备的投资。

Bitcoin Miners Embrace New Strategies to Counter Halving Impact: Transaction Fees and Innovative Protocols Take Center Stage

比特币矿工采用新策略应对减半影响：交易费用和创新协议成为焦点

As Bitcoin's highly anticipated halving event made its mark on the cryptocurrency landscape, a profound shift in the economic dynamics of Bitcoin mining has come to light. Halvings, a pivotal aspect of Bitcoin's fabric, have traditionally brought about a reduction in block rewards, the primary source of income for miners. This recurring challenge has compelled miners to seek innovative avenues to maintain profitability and ensure the continued operation of the network.

随着比特币备受期待的减半事件在加密货币领域留下印记，比特币挖矿的经济动态发生了深刻的转变。减半是比特币结构的一个关键方面，传统上会导致区块奖励减少，而区块奖励是矿工的主要收入来源。这种反复出现的挑战迫使矿工寻求创新途径来维持盈利能力并确保网络的持续运营。

Understanding the Halving's Impact on Miners

了解减半对矿工的影响

Bitcoin miners play an indispensable role in securing and maintaining the integrity of the Bitcoin blockchain. They validate and record transactions, a vital service that necessitates significant investments in specialized mining hardware. In exchange for their contributions, miners receive a fixed subsidy from each block they mine, known as the block reward, along with transaction fees paid by network users.

比特币矿工在保护和维护比特币区块链的完整性方面发挥着不可或缺的作用。他们验证并记录交易，这是一项重要的服务，需要对专门的采矿硬件进行大量投资。作为贡献的交换，矿工从他们开采的每个区块中获得固定补贴，称为区块奖励，以及网络用户支付的交易费用。

Halvings, occurring roughly every four years, slash block rewards by half. Since Bitcoin's inception, four halvings have transpired, each reducing the reward miners receive. The latest halving, which occurred on April 18th, 2023, cut the block reward from 6.25 BTC to 3.125 BTC.

大约每四年发生一次减半，将区块奖励削减一半。自比特币诞生以来，已经发生了四次减半，每次减半都会减少矿工获得的奖励。最近一次减半发生在 2023 年 4 月 18 日，将区块奖励从 6.25 BTC 削减至 3.125 BTC。

Transaction Fees Emerge as a Critical Revenue Stream

交易费用成为关键的收入来源

As block rewards diminish, transaction fees have emerged as an increasingly important revenue source for miners. Users pay these fees to prioritize their transactions, ensuring faster processing time. The halving event has accelerated the significance of transaction fees, prompting miners to prioritize strategies that enhance network utilization and fee generation.

随着区块奖励的减少，交易费用已成为矿工越来越重要的收入来源。用户支付这些费用是为了优先处理他们的交易，确保更快的处理时间。减半事件加速了交易费用的重要性，促使矿工优先考虑提高网络利用率和费用产生的策略。

Enter Ordinals and Runes, innovative token protocols that have sparked a surge in on-chain activity and fee revenue. These protocols enable users to create and mint tokens on the Bitcoin blockchain, unlocking new use cases and increasing network utilization.

Ordinals 和 Runes 是创新的代币协议，引发了链上活动和费用收入的激增。这些协议使用户能够在比特币区块链上创建和铸造代币，解锁新的用例并提高网络利用率。

Ordinals and Runes Fuel Speculative Activity and Fee Revenue

序数和符文推动投机活动和费用收入

The halving block, block 840,000, witnessed a remarkable surge in transaction fees. Miners collected a staggering 37.62 BTCs in fees, equivalent to nearly $2.4 million at current market prices. When combined with the reduced block subsidy of 3.12 BTCs, miners earned a total of over $2.6 million from that single block.

减半区块 840,000 见证了交易费用的显着飙升。矿工收取的费用高达 37.62 BTC，按当前市场价格计算，相当于近 240 万美元。加上减少的 3.12 BTC 区块补贴，矿工从该区块中总共赚取了超过 260 万美元。

Transaction fees reached an all-time high (ATH) on the halving day, with 75% of miner revenue being derived from fees. This surge is attributed to the speculative frenzy surrounding Ordinals and Runes, which have attracted crypto enthusiasts seeking to create and collect novel digital assets on the Bitcoin blockchain.

减半当天交易费用创下历史新高（ATH），矿工收入的 75% 来自费用。这种激增归因于围绕序号和符文的投机狂潮，它们吸引了寻求在比特币区块链上创建和收集新颖数字资产的加密货币爱好者。

Minting NFTs and Fungible Tokens on Bitcoin

在比特币上铸造 NFT 和同质代币

Prior to 2023, Bitcoin's reputation was largely confined to its role as a peer-to-peer (P2P) payments network. However, with the advent of Ordinals and Runes, Bitcoin has begun to resemble other layer-1 blockchains, enabling the minting of NFTs and other fungible tokens.

2023 年之前，比特币的声誉很大程度上局限于其作为点对点 (P2P) 支付网络的作用。然而，随着序数和符文的出现，比特币已经开始类似于其他第一层区块链，使得 NFT 和其他可替代代币的铸造成为可能。

This expanded functionality has opened up new revenue streams for miners. Increased network usage for minting and other activities translates into higher transaction fees, offsetting the losses incurred from the halving of block rewards.

这种扩展的功能为矿工开辟了新的收入来源。铸币和其他活动的网络使用量增加会转化为更高的交易费用，抵消区块奖励减半带来的损失。

Hash Rate Continues to Rise, Driving Demand for Efficiency

算力持续上升，推动效率需求

Despite the challenges posed by halvings, the hash rate, a measure of the computational power dedicated to Bitcoin mining, has continued to climb. As more miners enter the industry and mining difficulty increases, the need for efficient mining machines has intensified. Miners are seeking equipment that maximizes hash rate while minimizing electricity consumption.

尽管减半带来了挑战，但哈希率（衡量比特币挖矿专用计算能力的指标）仍在持续攀升。随着越来越多的矿工进入该行业以及挖矿难度的增加，对高效矿机的需求也随之加剧。矿工们正在寻求能够最大限度地提高算力并同时最大限度地减少电力消耗的设备。

Miners Sell Holdings Post-Halving for Strategic Investments

矿商在减半后出售所持股份以进行战略投资

Interestingly, miners have exhibited a pattern of selling their Bitcoin holdings shortly after halvings. This behavior, observed on the halving day, suggests that the increased revenue from fee spikes may be motivating miners to sell off their coins. Proceeds from these sales could be used to invest in more cost-effective mining equipment, further enhancing their profitability.

有趣的是，矿工在减半后不久就表现出了出售其持有的比特币的模式。在减半日观察到的这种行为表明，费用飙升带来的收入增加可能会促使矿工出售他们的代币。这些销售收入可用于投资更具成本效益的采矿设备，进一步提高其盈利能力。

Conclusion

结论

Bitcoin miners are navigating the challenges of halvings by embracing new strategies and exploiting emerging revenue streams. Transaction fees, once a secondary source of income, have become a critical component of miner profitability. The introduction of innovative protocols like Ordinals and Runes has unlocked new use cases for the Bitcoin blockchain, generating fee revenue for miners and expanding the network's functionality.

比特币矿工正在通过采用新策略和利用新兴收入流来应对减半的挑战。交易费用曾经是次要收入来源，现已成为矿商盈利能力的重要组成部分。 Ordinals 和 Runes 等创新协议的引入为比特币区块链解锁了新的用例，为矿工创造了费用收入并扩展了网络的功能。

As the Bitcoin network continues to evolve, miners are adapting and developing efficient methods to maintain their profitability. The hash rate, a testament to the network's security, continues to rise, driving innovation and the search for more efficient mining technologies. The halvings, once seen as a setback for miners, have become a catalyst for innovation and strategic decision-making, ensuring the long-term viability and resilience of the Bitcoin mining ecosystem.

随着比特币网络的不断发展，矿工正在适应和开发有效的方法来维持盈利能力。证明网络安全性的哈希率持续上升，推动创新和寻找更高效的挖矿技术。减半一度被视为矿工的挫折，但已成为创新和战略决策的催化剂，确保了比特币挖矿生态系统的长期生存能力和弹性。