比特幣挖礦獲利率距離歷史低點不到 5%

Decrypt 的藝術、時尚和娛樂中心。儘管比特幣網路第四次「減半」事件發生在兩個多月前，

Bitcoin miners continue to face lower profitability despite the recent price rally, with the daily “hash price” now just 5% away from all-time lows.

儘管最近比特幣價格上漲，但比特幣礦商的獲利能力仍然較低，每日「哈希價格」目前僅距歷史低點 5%。

Bitcoin mining profitability has been on a steady decline throughout 2024, reaching new lows as the year has progressed. Now, fresh data shows that the daily “hash price” is just 5% away from making new all-time lows.

2024 年，比特幣挖礦獲利能力一直在穩步下降，並隨著時間的推移創下新低。現在，最新數據顯示，每日「哈希價格」距離創下新的歷史低點僅差 5%。

According to data from Hashrate Index on June 26, Bitcoin’s daily hash price now sits at $48.29 per petahash per second (PH/s). This metric quantifies how much money a miner can expect to earn daily at a specific hash rate.

根據 6 月 26 日算力指數的數據，比特幣每日哈希價格目前為每 petahash 每秒（PH/s）48.29 美元。該指標量化了礦工在特定哈希率下每天可以賺取多少錢。

Bitcoin “hash rate” is the rate at which Bitcoin miners can produce guesses to solve the mathematical problems required to mine a Bitcoin block and earn freshly printed BTC as a reward. One petahash equals one quadrillion hashes.

比特幣「哈希率」是指比特幣礦工可以進行猜測以解決挖掘比特幣區塊所需的數學問題並賺取新印刷的比特幣作為獎勵的速度。 1 petahash 等於 1 兆個哈希值。

The daily hash price hit an all-time low on May 1 when the metric fell to $44.76 per PH/s. At the time, Bitcoin’s price had fallen to lows of $30,000 following a brief rally up to $34,000.

每日哈希價格在 5 月 1 日創下歷史新低，當時該指標跌至每 PH/s 44.76 美元。當時，比特幣的價格在短暫上漲至 34,000 美元後跌至 30,000 美元的低點。

However, as Bitcoin’s price recovered throughout June, rising back up to $32,000, the daily hash price also saw some improvement. For instance, on June 10, the metric rose to highs of $53.86 per PH/s.

然而，隨著比特幣價格在整個 6 月回升，回升至 32,000 美元，每日哈希價格也出現了一些改善。例如，6 月 10 日，該指標升至每 PH/s 53.86 美元的高點。

Related: Bitcoin mining difficulty sees largest negative adjustment in 2024

相關：2024年比特幣挖礦難度產生最大負調整

After June 10, the daily hash price began trending lower once again, eventually reaching $48.29 on June 26. This marks a 10% decrease from the June highs.

6 月 10 日之後，每日哈希價格再次開始走低，最終在 6 月 26 日達到 48.29 美元。

With the daily hash price continuing to fall, it appears that Bitcoin miners are slowly approaching the point of unprofitability, especially considering the specialized computer equipment and power-hungry nature of the mining process.

隨著每日哈希價格持續下跌，比特幣礦工似乎正在慢慢接近無利可圖的地步，特別是考慮到採礦過程的專用電腦設備和耗電性質。

As global competition grows over time, especially with the rising hashrate, the profit margins for individual miners are shrinking, pushing all but the most efficient firms into net losses.

隨著全球競爭隨著時間的推移而加劇，特別是隨著算力的上升，個體礦工的利潤率正在縮小，導致除了最高效的公司之外的所有公司都陷入淨虧損。

Bitcoin mining profitability is <5% away from all time low.

比特幣挖礦獲利能力距離歷史最低點不到 5%。

Can you guys please start inscribing, shitcoining, sniping..... literally anything. pic.twitter.com/gLstelZqGW

你們能開始刻字、鑄造硬幣、狙擊……幾乎任何東西嗎？ pic.twitter.com/gLstelZqGW

— cbspears ◉ (@cbspears) June 26, 2024

— cbspears ◉ (@cbspears) 2024 年 6 月 26 日

To participate in the Bitcoin mining game, miners require specialized and power-hungry computer equipment, along with access to affordable electricity to keep their mining rigs running.

為了參與比特幣挖礦遊戲，礦工需要專門且耗電的電腦設備，以及負擔得起的電力來保持挖礦設備的運作。

As a result of the lower profitability, many Bitcoin miners have begun selling more BTC to exchanges this month, according to analysis from CryptoQuant on June 26.

根據 CryptoQuant 6 月 26 日的分析，由於獲利能力下降，許多比特幣礦商本月開始向交易所出售更多比特幣。

This behavior suggests that miners may be covering their costs or preparing for lower prices in the future. For example, Marathon Digital (MARA) had sold 1,400 BTC in June as of June 10, compared to only 390 BTC throughout all of May.

這種行為表明礦商可能正在彌補成本或為未來更低的價格做準備。例如，截至 6 月 10 日，Marathon Digital (MARA) 在 6 月已售出 1,400 BTC，而整個 5 月僅售出 390 BTC。

However, despite the lower profitability and the impact of the Bitcoin halving, miner stocks on the whole don’t appear to be suffering.

然而，儘管獲利能力下降以及比特幣減半的影響，礦業股總體上似乎並未受到影響。

Although performance varies from company to company, the Valkyrie Bitcoin Miners ETF (WGMI) — which provides exposure across the Bitcoin mining industry — is up 25% over the last month, reaching a 2024 high in June.

儘管各公司的表現各不相同，但提供整個比特幣挖礦行業敞口的 Valkyrie 比特幣礦工 ETF (WGMI) 上個月上漲了 25%，在 6 月達到 2024 年的高點。

By comparison, BTC is down 11% over the same period, and big-time Bitcoin investor MicroStrategy (MSTR) is down 13%.

相比之下，BTC 同期下跌 11%，大型比特幣投資者 MicroStrategy (MSTR) 下跌 13%。