比特幣礦工在投降中面臨經濟壓力

當礦工因無利可圖或不可持續的營運成本而被迫關閉時，就會發生比特幣礦工投降。

Bitcoin miners are experiencing a period of capitulation as a result of economic pressures. This occurs when miners shut down their operations due to unprofitability or unsustainable operating costs.

由於經濟壓力，比特幣礦工正在經歷一段投降時期。當礦工因無利可圖或不可持續的營運成本而關閉其營運時，就會發生這種情況。

When the cost of mining (including electricity, hardware, and operational expenses) exceeds the revenue generated from mining Bitcoin, the miner is essentially losing money on each block they mine.

當挖礦成本（包括電力、硬體和營運費用）超過挖掘比特幣產生的收入時，礦工在開採的每個區塊上基本上都會虧損。

At this point, they may choose to shut down their mining machines and sell their Bitcoin holdings to recoup some of their losses.

此時，他們可能會選擇關閉礦機並出售所持有的比特幣以彌補部分損失。

This phenomenon is typically observed during bear markets or periods of low Bitcoin prices, as the mining difficulty and electricity consumption remain high even as the block reward decreases.

這種現象通常發生在熊市或比特幣價格較低的時期，因為即使區塊獎勵減少，挖礦難度和電力消耗仍然很高。

As a result, miners are forced to sell their mined Bitcoin to cover their operating costs, leading to increased selling pressure in the market.

結果，礦工被迫出售開採的比特幣以支付營運成本，導致市場拋售壓力增加。