比特幣挖礦難度突破100兆大關，標誌著穩健性和複雜性

比特幣挖礦難度最近突破了前所未有的門檻：100兆。這項壯舉在幾年前還是難以想像的，它像徵著網路的穩健性和日益增加的複雜性。

Bitcoin mining difficulty recently crossed an unimaginable threshold: 100 trillion. This record showcases the network’s resilience and ever-increasing complexity. However, behind the scenes, miners face a harsh reality and must constantly adjust to maintain equilibrium.

比特幣挖礦難度最近突破了難以想像的門檻：100兆。這項記錄展示了網路的彈性和不斷增加的複雜性。然而，在幕後，礦工面臨殘酷的現實，必須不斷調整以保持平衡。

Let’s explore the factors driving this difficulty adjustment and its implications for the flagship cryptocurrency’s future.

讓我們探討一下推動這種難度調整的因素及其對旗艦加密貨幣未來的影響。

The race for mining: record difficulty and brute force

挖礦競賽：創紀錄的難度與蠻力

Last Tuesday, Bitcoin mining difficulty increased by 6.2%, surpassing the 100 trillion mark for the first time. This difficulty serves as an indicator: the higher it is, the more complex the Bitcoin network becomes to secure.

上週二，比特幣挖礦難度增加6.2%，首次突破100兆大關。這個難度可以作為一個指標：難度越高，比特幣網路的安全性就越複雜。

In this technological race, miners compete in computing power to solve equations and validate each block.

在這場技術競賽中，礦工們競爭運算能力，以解決方程式並驗證每個區塊。

This jump in difficulty is not random. Last week, the Bitcoin network recorded a hash rate of 750 EH/s (exahashes per second) on average over seven days, indicating an immense level of computing power.

這種難度的跳躍並不是隨機的。上週，比特幣網路在 7 天內的平均哈希率達到 750 EH/s（每秒艾哈什），這表明其運算能力非常強大。

This record not only demonstrates the commitment of miners but also the increasing industrialization of Bitcoin mining. Miners have escalated their efforts, investing in state-of-the-art infrastructures and leaving smaller players unable to keep up with this surge in power on the sidelines.

這項紀錄不僅體現了礦工的承諾，也體現了比特幣挖礦的日益工業化。礦商們加大了努力，投資最先進的基礎設施，而規模較小的參與者卻無法跟上這種電力激增的步伐。

The difficulty adjustment, which occurs automatically every 2016 blocks, ensures the network’s regularity: a new block every ten minutes, no matter what. Recently, miners were extracting a block every nine minutes and 27 seconds, hence this necessary increase in difficulty.

每 2016 個區塊自動進行一次難度調整，確保網路的規律性：無論如何，每十分鐘一個新區塊。最近，礦工每 9 分 27 秒提取一個區塊，因此難度必然增加。

The impact of difficulty on miners: when the reward becomes scarce

難度對礦工的影響：當獎勵變得稀少時

With this rise in difficulty, each miner sees their energy costs explode, and the stakes become increasingly selective.

隨著難度的增加，每個礦工都發現他們的能源成本激增，並且賭注變得越來越有選擇性。

After the last halving of Bitcoin in April, which halved the reward per block to 3.125 BTC, miners had to cope with shrinking margins. As a result, overall revenues declined, pushing the least efficient miners out of the market.

在 4 月的最後一次比特幣減半之後，每個區塊的獎勵減半至 3.125 BTC，礦工們必須應對利潤縮水的問題。結果，整體收入下降，效率最低的礦商被擠出市場。

The pressure is so great that many have thrown in the towel, while public miners, often more resilient, continue to invest to maintain their position.

壓力如此之大，以至於許多人都認輸了，而公共礦工往往更有彈性，繼續投資以維持自己的地位。

It is primarily these large players – often American – who today enhance the security of the network, with large-scale mining operations and machines constantly renewed to maximize their efficiency.

如今，主要是這些大型參與者（通常是美國人）透過大規模採礦作業和不斷更新的機器來增強網路的安全性，以最大限度地提高效率。

Moreover, the “hash price” – or expected revenue per unit of hashing power – fell to its lowest historical level of $0.04 per TH/s in September, before timidly recovering to $0.045. In other words, each unit of computing becomes less profitable, forcing miners to rethink their strategy.

此外，「哈希價格」（即每單位哈希算力的預期收入）在 9 月跌至每 TH/s 0.04 美元的歷史最低水平，隨後又小心翼翼地恢復至 0.045 美元。換句話說，每個計算單元的利潤都會降低，迫使礦工重新考慮他們的策略。

Towards a new era for Bitcoin: the challenges of ultra-concentration

邁向比特幣新時代：超集中化的挑戰

As the price of Bitcoin currently hovers around $68,694, the dynamics of mining reveal a trend towards market consolidation.

目前比特幣價格徘徊在 68,694 美元左右，挖礦動態揭示了市場整合的趨勢。

“Traditional” miners find themselves competing with diversified players in fields such as AI, like Core Scientific or Terawulf, who dominate stock rankings, leaving miners exclusively focused on Bitcoin behind.

「傳統」礦工發現自己正在與人工智慧等領域的多元化參與者競爭，例如 Core Scientific 或 Terawulf，這些公司在股票排名中佔據主導地位，從而使專注於比特幣的礦工落後。

In 2024, the race is no longer solely about having the most brute force, but also about who can adapt. The difficulty that has just crossed 100 trillion is just the beginning: the architecture of Bitcoin, designed to withstand any fluctuation, will continue to demand more power and ingenuity from its miners.

2024年，比賽不再只比拼誰擁有最強的蠻力，比拼誰能適應。剛突破 100 兆的難度只是一個開始：比特幣的架構旨在承受任何波動，將繼續要求礦工提供更多的算力和創造力。

In summary, crossing the wall of 100 trillion is somewhat like climbing Everest in the middle of a blizzard. The most seasoned miners remain standing, while others, already worn out by rising costs, drop off. One thing is certain, Bitcoin never rests, and this epic journey towards the next difficulty is just beginning. Meanwhile, Ripple is about to trigger a devastating sell-off!

總而言之，跨越100兆的牆有點像在暴風雪中攀登珠穆朗瑪峰。經驗最豐富的礦工仍然屹立不倒，而其他已經因成本上漲而疲憊不堪的礦工則紛紛倒下。有一點是肯定的，比特幣永遠不會休息，而通往下一個困難的史詩之旅才剛開始。同時，瑞波幣即將引發毀滅性的拋售！

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