比特币矿工在投降中面临经济压力

当矿工由于无利可图或不可持续的运营成本而被迫关闭时，就会发生比特币矿工投降。

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.

由于经济压力，比特币矿工正在经历一段投降时期。当矿工由于无利可图或不可持续的运营成本而关闭其运营时，就会发生这种情况。

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.

当挖矿成本（包括电力、硬件和运营费用）超过挖掘比特币产生的收入时，矿工在开采的每个区块上基本上都会亏损。

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

此时，他们可能会选择关闭矿机并出售所持有的比特币，以弥补部分损失。

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.

这种现象通常发生在熊市或比特币价格较低的时期，因为即使区块奖励减少，挖矿难度和电力消耗仍然很高。

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

结果，矿工被迫出售开采的比特币以支付运营成本，导致市场抛售压力增加。