比特幣挖礦盈利能力下降：引領人工智能轉型

比特幣挖礦盈利能力下降，但礦工們在人工智能中找到了新的生機。深入了解趨勢、挑戰和令人驚訝的人工智能支點。

Bitcoin Mining Profitability Declines: Navigating the AI Pivot

比特幣挖礦盈利能力下降：引領人工智能轉型

Bitcoin mining profitability is facing headwinds, but miners aren't backing down. As profitability declines, many are pivoting to AI, leveraging their infrastructure and energy resources. Let's dive in!

比特幣挖礦盈利能力面臨阻力，但礦商並沒有退縮。隨著盈利能力下降，許多人開始轉向人工智能，利用其基礎設施和能源資源。讓我們深入了解一下吧！

The Squeeze on Bitcoin Mining

比特幣挖礦受到擠壓

September 2025 saw a significant dip in Bitcoin mining profitability, with a 7% drop as daily revenue per 1 EH/s fell from $56,000 to $52,000. Jefferies analysts pointed to a 2% decrease in Bitcoin's price and a 9% increase in network computing power as the main culprits. Lower Bitcoin prices combined with rising network difficulty are tightening margins across the mining sector.

2025 年 9 月，比特幣挖礦盈利能力大幅下降，每 1 EH/s 的每日收入從 56,000 美元降至 52,000 美元，下降了 7%。 Jefferies 分析師指出，比特幣價格下跌 2% 和網絡算力增長 9% 是罪魁禍首。比特幣價格下跌加上網絡難度上升正在收緊整個採礦業的利潤。

Adding to the pressure, the network hashrate reached an all-time high, exceeding 1.2 trillion hashes per second. This increased hashrate, coupled with trade policies and reduced block rewards, creates a challenging environment for mining operations.

雪上加霜的是，網絡算力達到了歷史新高，每秒超過 1.2 萬億次算力。算力的增加，加上貿易政策和區塊獎勵的減少，為採礦作業創造了一個充滿挑戰的環境。

The AI Lifeline

人工智能生命線

Faced with these challenges, miners are exploring alternative revenue streams, with many turning to AI. This "AI pivot" is driven by the miners' existing access to energy resources and established infrastructure, making them attractive partners for AI computing firms.

面對這些挑戰，礦商正在探索其他收入來源，其中許多人轉向人工智能。這種“人工智能支點”是由礦工現有的能源資源和已建立的基礎設施驅動的，這使他們成為人工智能計算公司有吸引力的合作夥伴。

• CoreWeave acquired Core Scientific for $9 billion.
• Google increased its stake in TeraWulf, expanding financial guarantees to $3.2 billion.
• IREN announced a $193 million investment in NVIDIA Blackwell B200 graphics processors for its AI Cloud computing division.
• CleanSpark announced its transition from "pure mining" to high-performance computing (HPC).
• Bitdeer plans to repurpose a mining facility in Norway to provide HPC services.

The Miner's Dilemma: Crypto vs. AI

礦工的困境：加密貨幣與人工智能

This shift towards AI isn't without its challenges. Competition for cheap power sources is intensifying between energy-intensive industries. Rising trade tensions could further complicate matters by restricting access to essential mining hardware.

這種向人工智能的轉變並非沒有挑戰。能源密集型行業之間對廉價能源的競爭正在加劇。貿易緊張局勢的加劇可能會限制基本採礦硬件的使用，從而使問題進一步複雜化。

However, the move also presents significant opportunities. Companies like MARA Holdings and CleanSpark, with their substantial hashrates, are well-positioned to capitalize on the growing demand for high-performance computing.

然而，此舉也帶來了重大機遇。 MARA Holdings 和 CleanSpark 等公司擁有強大的算力，能夠充分利用對高性能計算不斷增長的需求。

My Two Satoshis

我的兩個中本聰

While the AI pivot seems like a smart move for miners, it raises questions about the long-term impact on the Bitcoin network. Will the focus shift away from securing the blockchain, potentially impacting its decentralization and security? Only time will tell. For now, it’s a fascinating development to watch, and a reminder that even in the world of crypto, adaptation is key.

雖然人工智能轉向對於礦工來說似乎是明智之舉，但它引發了人們對比特幣網絡長期影響的質疑。焦點是否會從保護區塊鏈上轉移，從而可能影響其去中心化和安全性？只有時間才能證明一切。目前來看，這是一個令人著迷的發展，並提醒人們，即使在加密世界中，適應也是關鍵。

Looking Ahead

展望未來

So, Bitcoin mining profitability might be down, but these miners are anything but out. They're hustling, adapting, and finding new ways to stay in the game. Who knows, maybe one day your crypto rig will be crunching AI algorithms instead of hashing blocks. The future is weird, but hey, at least it's interesting!

因此，比特幣挖礦的盈利能力可能會下降，但這些礦工絕不會出局。他們不斷努力、適應並尋找新的方式來留在遊戲中。誰知道呢，也許有一天你的加密設備將處理人工智能算法而不是哈希塊。未來很奇怪，但是嘿，至少很有趣！