CryptoQuant 表示，比特幣 (BTC) 算力非常接近 ATH

CryptoQuant 分析師的新報告稱，比特幣 (BTC) 礦工已恢復營業

Bitcoin’s hashrate hit a new all-time high earlier this week, recovering from an 8.5% drawdown in July. At the same time, the miner hash price has plunged to a record low of $0.038 per TH/s. This metric, which measures how much a miner can earn per amount of mining computing power, hovered around $0.05 per TH/s shortly after the Bitcoin halving in April.

比特幣算力本週稍早創下歷史新高，從 7 月 8.5% 的下降中恢復過來。與此同時，礦機哈希價格已跌至每 TH/s 0.038 美元的歷史低點。該指標衡量礦工每單位挖礦算力能賺取多少收入，在 4 月比特幣減半後不久，該指標徘徊在每 TH/s 0.05 美元左右。

However, as BTC briefly slipped to $49,500, outflows from smaller miner cohorts surged to 19,000 BTC on August 5, marking the highest level since March 18. This suggests that some miners sold a portion of their holdings as their average profit margins reduced to 25%, the lowest since January 22.

然而，隨著BTC 短暫跌至49,500 美元，8 月5 日，規模較小的礦工群體的資金流出激增至19,000 BTC，創下3 月18 日以來的最高水平。 25%，一些礦工出售了部分持有的比特幣。

During the sale of their reserves, some miners realized losses due to bitcoin’s dip in value. They saw the largest daily loss since May 29, a whopping $22 million.

在出售儲備金的過程中，一些礦工因比特幣價值下跌而遭受損失。他們遭遇了自 5 月 29 日以來最大單日損失，高達 2,200 萬美元。

On the other hand, large Bitcoin mining entities have increased their holdings through consistent accumulation. In contrast, the Bitcoin holdings of smaller entities have bottomed. These miners may record more declines in their reserves as on-chain analysis shows more selling activity due to low profitability.

另一方面，大型比特幣挖礦實體透過持續累積增持比特幣。相比之下，較小實體的比特幣持有量已經觸底。這些礦商的儲備量可能會出現更多下降，因為鏈上分析顯示，由於獲利能力較低，銷售活動增加。

CryptoQuant’s Miner Profit/Loss Sustainability metric indicates that miners are still underpaid, especially as mining difficulty is on the rise and prices have slumped.

CryptoQuant 的礦工盈利/虧損可持續性指標表明，礦工的薪酬仍然偏低，特別是在採礦難度不斷上升且價格暴跌的情況下。

On the brighter side, miner capitulation events and higher miner outflows usually occur near local bottoms for BTC prices during bull cycles. This means that a bitcoin rally may be on the horizon.

從好的一面來看，在牛市週期中，礦工投降事件和礦工外流增加通常發生在 BTC 價格的局部底部附近。這意味著比特幣反彈可能即將到來。