随着网络适应哈希率暴跌，比特币挖矿难度下降

比特币挖矿难度下降了 5.7%，这是约 18 个月来最大的负调整。这次调整发生在区块高度 842,688 处，使难度级别降至 83.1 万亿。此次下跌是在网络哈希率下降 10% 后发生的，导致比特币哈希价格创下历史新低，目前每 PH/s 每天不到 50 美元。

Bitcoin Mining Difficulty Declines Sharply, Signaling Network Adjustment Amidst Hash Rate Downturn

比特币挖矿难度大幅下降，算力低迷预示着网络调整

On Thursday, the Bitcoin (BTC) network underwent a significant negative adjustment in mining difficulty, marking the largest downward correction in nearly 18 months. Data from Bitbo reveals that the difficulty dropped by 5.7% at block height 842,688, falling to 83.1 trillion. This adjustment represents the most severe negative change since the bear market lows of December 6, 2022, when difficulty fell by 7% while bitcoin traded around $17,000.

周四，比特币（BTC）网络挖矿难度出现大幅负调整，创下近 18 个月来最大的下行调整。 Bitbo数据显示，区块高度842,688时，难度下降5.7%，降至83.1万亿。此次调整代表了自 2022 年 12 月 6 日熊市低点以来最严重的负面变化，当时难度下降了 7%，而比特币交易价格约为 17,000 美元。

Bitcoin's mining difficulty serves as a gauge of the computational effort required to mine a new block. It undergoes automatic adjustments every 2016 blocks, approximately every two weeks, to maintain an average block discovery time of 10 minutes, regardless of the number of miners actively engaged in the process.

比特币的挖掘难度可以用来衡量挖掘新区块所需的计算量。它每 2016 个区块（大约每两周）进行一次自动调整，以保持平均区块发现时间为 10 分钟，无论积极参与该过程的矿工数量如何。

An increase in the number of miners typically leads to an increase in mining difficulty, while a decrease in miner participation results in a reduction of difficulty, facilitating block discovery for the remaining miners.

矿工数量的增加通常会导致挖矿难度的增加，而矿工参与度的减少会导致难度的降低，从而促进剩余矿工的区块发现。

Network Hash Rate Decline Precipitates Difficulty Adjustment

网络算力下降导致难度调整

The recent negative difficulty adjustment follows a 10% drop in the network hash rate since the last adjustment on April 24. According to The Block's data dashboard, the seven-day moving average of hash rate has declined from 639.58 exahashes per second (EH/s) to 578.74 EH/s as of Wednesday. Prior to the adjustment, average block times extended to 10 minutes and 36 seconds.

自 4 月 24 日上次调整以来，网络算力下降了 10%。根据 The Block 的数据仪表板，算力的 7 天移动平均值已从每秒 639.58 exahashes (EH/s ）截至周三为 578.74 EH/s。调整前，平均出块时间延长至10分36秒。

The decline in hash rate led to an all-time low in Bitcoin's hash price, reaching $0.05 per terahash per second per day ($0.05 per TH/s/day) on April 29. This coincided with a drop in bitcoin's price below $63,000. At the time of writing, bitcoin trades around $61,000, as per The Block's price page.

哈希率的下降导致比特币的哈希价格创下历史新低，于 4 月 29 日达到每秒每秒 0.05 美元（每 TH/s/天 0.05 美元）。与此同时，比特币的价格跌破 63,000 美元。截至撰写本文时，根据 The Block 的价格页面，比特币交易价格约为 61,000 美元。

Hash price is a metric coined by Luxor, a Bitcoin mining services firm, representing the expected value of 1 PH/s or 1 TH/s of hashing power per day. It quantifies the potential earnings of a miner based on their hash rate contribution.

哈希价格是比特币挖矿服务公司 Luxor 创造的一个指标，代表每天 1 PH/s 或 1 TH/s 哈希能力的预期值。它根据矿工的哈希率贡献来量化矿工的潜在收入。

Positive Impact on Miner Profitability

对矿工盈利能力的积极影响

Despite the negative adjustment, it could provide some relief for miners who have faced increased challenges since the halving. The adjustment makes it slightly easier to mine blocks compared to the past two weeks.

尽管出现了负面调整，但它可以为自减半以来面临更多挑战的矿工带来一些缓解。与过去两周相比，这一调整使得开采区块变得稍微容易一些。

Difficulty Adjustment History

难度调整历史

Today's negative adjustment follows a 1% drop in March and precedes two positive adjustments around the halving event. Bitcoin's fourth halving occurred on April 20, with the penultimate difficulty adjustment pre-halving and the first post-halving adjustment increasing by 4% and 2%, respectively, reaching a record high of 88.1 trillion. This coincided with a hash rate peak of 650.29 EH/s on April 19. The network's hash rate has since fallen by approximately 11%.

今天的负调整是在 3 月份下跌 1% 之后，在减半事件前后的两次正调整之前进行的。比特币第四次减半发生在4月20日，减半前的倒数第二次难度调整和减半后的第一次难度调整分别增加了4%和2%，达到88.1万亿的历史新高。这与 4 月 19 日的哈希率峰值 650.29 EH/s 相吻合。此后，该网络的哈希率下降了约 11%。

The pre-halving adjustment rise reflected increased miner participation in anticipation of the reduction in block subsidy rewards from 6.25 BTC to 3.125 BTC.

减半前调整的上涨反映了矿工参与度的增加，因为预计区块补贴奖励将从 6.25 BTC 减少到 3.125 BTC。

The post-halving difficulty adjustment increase, a first of its kind, was attributed to the hype surrounding Runes, a fungible token standard for Bitcoin launched at the halving. Runes initially boosted transaction fee revenue for miners following the subsidy reduction.

减半后难度调整的增加是首次，这归因于围绕符文的炒作，符文是减半时推出的比特币可替代代币标准。在补贴减少后，符文最初增加了矿工的交易费收入。

Following the halving, block 840,000 generated $2.4 million in fees, far exceeding the $200,000 block subsidy reward. Bitcoin experienced a record 104-block run of transaction fee rewards surpassing the subsidy, as recorded by the Bitcoin explorer Mempool.

减半后，区块 840,000 产生了 240 万美元的费用，远远超过了 200,000 美元的区块补贴奖励。根据比特币浏览器 Mempool 的记录，比特币经历了创纪录的 104 个区块的交易费用奖励超过补贴。

The Runes protocol, developed by Ordinals creator Casey Rodarmor, offers a more efficient solution for creating tokens on Bitcoin compared to BRC-20 tokens that utilize Ordinals inscriptions.

与使用 Ordinals 铭文的 BRC-20 代币相比，由 Ordinals 创建者 Casey Rodarmor 开发的 Runes 协议为在比特币上创建代币提供了更有效的解决方案。

Runes transactions generated over $135 million in fees during the first week following their launch. However, following the initial enthusiasm, average transaction fees have dropped significantly from a peak of $128.45 on the day of halving to around $1, according to Mempool data.

符文交易在推出后的第一周就产生了超过 1.35 亿美元的费用。然而，Mempool 数据显示，继最初的热情之后，平均交易费用已从减半当天的峰值 128.45 美元大幅下降至 1 美元左右。