比特币（BTC）矿工可能很快就会盈利，这可能会提振比特币

比特币（BTC）矿商的利润略有下降。在此之前，四月份减半后收入（区块奖励）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.

比特币（BTC）矿商的利润在 4 月份减半后急剧下降，收入（区块奖励）减少了一半，目前利润有所缓解。

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 分析师 Axel Adler 表示，BTC 矿工的平均每日收入从 5 月份 7400 万美元的峰值下滑至 7 月份的 3000 万美元以上。

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

从长远来看，矿工现在获得了 3.125 BTC 作为区块奖励，而 4 月份减半之前为 6.25 BTC（不包括交易费用）。

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.

尽管 BTC 矿工的平均收入有所改善，每天小幅反弹至 3000 万美元以上，但大多数矿工在上次检查时仍然没有盈利。

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.

事实上，继四月份减半事件期间区块奖励减少之后，盈利能力一直是一个令人担忧的问题。 MacroMicro 的数据显示，自 4 月份以来，平均挖矿成本一直高于 BTC 价格。

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 月份挖矿成本与 BTC 价格之间的差距有所缩小，但 6 月份再次扩大。 7 月，差距大幅缩小，表明 BTC 矿商可能已接近再次盈利。

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，平均挖矿成本为 7.36 万美元，而 BTC 价格为 6.82 万美元。这意味着当天开采单个 BTC 的平均损失超过 5,000 美元。采矿成本包括运营采矿设备的费用、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.

陷入困境的矿工可能被迫出售之前开采的比特币以支付运营成本。如果大量矿工出售比特币来支付费用，可能会对比特币价格造成下行压力。

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.

矿工到交易所的流量是衡量 BTC 矿工抛售压力的指标。该指标的增加或飙升表明，更多来自矿工的比特币被转移到中心化交易所进行抛售，这可能会拖累比特币价格。

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，该指标的下降表明矿工正在从交易所撤回比特币，这表明由于矿工抛售压力减少，比特币出现看涨情景。

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.

正如随附的 CryptoQuant 图表所示，我们可以观察正在发生的情况。从 7 月 1 日到 20 日，矿工到交易所的流量缓慢下降，这对应于 BTC 短暂收复 6 万美元并飙升至 6.6 万美元以上的反弹。

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 日期间，随着越来越多的 BTC 被矿工抛售到交易所，BTC 出现短暂回撤，该指标有所上升。然而，自上周五以来，矿工到交易所的流量急剧下降，强化了 BTC 的看涨信号，因为它接近 6.9 万美元。

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.

按当前市场价格计算，矿商总共持有约 181 万枚 BTC 储备，价值超过 1240 亿美元。这种供应会对比特币价格产生重大影响。

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.

尽管如此，最近的数据似乎表明，矿商即将再次盈利，并且不会抛售比特币，这可能为比特币攀升提供一些急需的支撑。