比特幣（BTC）礦工可能很快就會獲利，這可能會提振比特幣

比特幣（BTC）礦商的利潤略有下降。在此之前，四月減半後收入（區塊獎勵）大幅下降。

Bitcoin (BTC) miners are experiencing some relief in their margins following a steep decline post-April halving, which slashed revenues (block rewards) in half.

比特幣（BTC）礦商的利潤在 4 月減半後急劇下降，收入（區塊獎勵）減少了一半，目前利潤有所緩解。

According to CrypoQuant analyst Axel Adler, the average daily revenue for BTC miners slid from a peak of $74 million in May to above $30 million in July.

CrypoQuant 分析師 Axel Adler 表示，BTC 礦工的平均每日收入從 5 月 7,400 萬美元的峰值下滑至 7 月的 3,000 萬美元以上。

For perspective, miners now receive 3.125 BTC as block rewards compared to 6.25 BTC before the April halving, excluding transaction fees.

從長遠來看，礦工現在獲得了 3.125 BTC 作為區塊獎勵，而 4 月減半之前為 6.25 BTC（不包括交易費用）。

Despite the الكبير improvement in average revenue for BTC miners, as seen by a slight bounce above $30 million daily, most miners were still not making a profit at the last check.

儘管 BTC 礦工的平均收入有所改善，每天小幅反彈至 3000 萬美元以上，但大多數礦工在上次檢查時仍然沒有盈利。

In fact, profitability has been a concern following the reduction in block rewards during the April halving event. Since April, the average mining costs have been higher than the BTC price, as indicated by data from MacroMicro.

事實上，繼四月減半事件期間區塊獎勵減少之後，獲利能力一直是一個令人擔憂的問題。 MacroMicro 的數據顯示，自 4 月以來，平均挖礦成本一直高於 BTC 價格。

Interestingly, the gap between mining costs and BTC prices decreased in May but widened again in June. In July, the gap has narrowed significantly, suggesting that BTC miners may be close to being profitable again.

有趣的是，5 月挖礦成本與 BTC 價格之間的差距有所縮小，但 6 月再次擴大。 7 月，差距大幅縮小，顯示 BTC 礦商可能已接近再次獲利。

On 29 July, the average mining cost was $73.6K, while the BTC price stood at $68.2K. This translates to an average loss of over $5,000 to mine a single BTC on that day. Mining costs include expenses for operating mining rigs, energy consumption, among others.

7 月 29 日，平均挖礦成本為 7.36 萬美元，而 BTC 價格為 6.82 萬美元。這意味著當天開採單一 BTC 的平均損失超過 5,000 美元。採礦成本包括營運採礦設備的費用、能源消耗等。

Struggling miners may be forced to sell off their previously mined BTC to cover operational costs. If a large number of miners sell BTC to cover their expenses, it could put downward pressure on BTC prices.

陷入困境的礦工可能被迫出售先前開採的比特幣以支付營運成本。如果大量礦工出售比特幣來支付費用，可能會對比特幣價格造成下行壓力。

The Miner-to-Exchange Flow serves as an indicator to gauge sell pressure from BTC miners. An increase or spike in the metric indicates that more BTC from miners were moved to centralized exchanges for sell-offs, which could drag the BTC price.

礦工到交易所的流量是衡量 BTC 礦工拋售壓力的指標。該指標的增加或飆升表明，更多來自礦工的比特幣被轉移到中心化交易所進行拋售，這可能會拖累比特幣價格。

On the other hand, a decrease in the metric suggests that miners are withdrawing their BTC from exchanges, which signals a bullish scenario for BTC due to reduced sell pressure from miners.

另一方面，該指標的下降表明礦工正在從交易所撤回比特幣，這表明由於礦工拋售壓力減少，比特幣出現看漲情景。

As illustrated in the attached CryptoQuant chart, we can observe the scenario playing out. The Miner to Exchange Flow dropped slowly from 1 to 20 July, which corresponds to a rally that saw BTC briefly reclaim $60K and surged past $66K.

正如隨附的 CryptoQuant 圖表所示，我們可以觀察正在發生的情況。從 7 月 1 日到 20 日，礦工到交易所的流量緩慢下降，這對應於 BTC 短暫收復 6 萬美元並飆升至 6.6 萬美元以上的反彈。

An uptick in the metric from 20 to 24 July saw BTC briefly retrace as more BTC were being dumped into exchanges by miners. However, Miner-to-Exchange Flow has declined sharply since last Friday, reinforcing a bullish sign for BTC as it approached $69K.

7 月 20 日至 24 日期間，隨著越來越多的 BTC 被礦工拋售到交易所，BTC 出現短暫回撤，該指標有所上升。然而，自上週五以來，礦工到交易所的流量急劇下降，強化了 BTC 的看漲訊號，因為它接近 6.9 萬美元。

At current market prices, miners collectively hold an estimated 1.81 million BTC in reserve, valued at over $124 billion. This supply can have a substantial impact on BTC prices.

以目前市價計算，礦商總共持有約 181 萬枚 BTC 儲備，價值超過 1,240 億美元。這種供應會對比特幣價格產生重大影響。

Nevertheless, recent data seems to indicate that miners are close to being profitable again and are refraining from selling off their BTC, which could provide some much-needed support for BTC to climb higher.

儘管如此，最近的數據似乎表明，礦商即將再次獲利，並且不會拋售比特幣，這可能為比特幣攀升提供一些急需的支撐。