比特币挖矿盈利能力下降：引领人工智能转型

比特币挖矿盈利能力下降，但矿工们在人工智能中找到了新的生机。深入了解趋势、挑战和令人惊讶的人工智能支点。

Bitcoin Mining Profitability Declines: Navigating the AI Pivot

比特币挖矿盈利能力下降：引领人工智能转型

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!

比特币挖矿盈利能力面临阻力，但矿商并没有退缩。随着盈利能力下降，许多人开始转向人工智能，利用其基础设施和能源资源。让我们深入了解一下吧！

The Squeeze on Bitcoin Mining

比特币挖矿受到挤压

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，比特币挖矿盈利能力大幅下降，每 1 EH/s 的每日收入从 56,000 美元降至 52,000 美元，下降了 7%。 Jefferies 分析师指出，比特币价格下跌 2% 和网络算力增长 9% 是罪魁祸首。比特币价格下跌加上网络难度上升正在收紧整个采矿业的利润。

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，网络算力达到了历史新高，每秒超过 1.2 万亿次算力。算力的增加，加上贸易政策和区块奖励的减少，为采矿作业创造了一个充满挑战的环境。

The AI Lifeline

人工智能生命线

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.

面对这些挑战，矿商正在探索其他收入来源，其中许多人转向人工智能。这种“人工智能支点”是由矿工现有的能源资源和已建立的基础设施驱动的，这使他们成为人工智能计算公司有吸引力的合作伙伴。

• 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

矿工的困境：加密货币与人工智能

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.

这种向人工智能的转变并非没有挑战。能源密集型行业之间对廉价能源的竞争正在加剧。贸易紧张局势的加剧可能会限制基本采矿硬件的使用，从而使问题进一步复杂化。

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，此举也带来了重大机遇。 MARA Holdings 和 CleanSpark 等公司拥有强大的算力，能够充分利用对高性能计算不断增长的需求。

My Two Satoshis

我的两个中本聪

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.

虽然人工智能转向对于矿工来说似乎是明智之举，但它引发了人们对比特币网络长期影响的质疑。焦点是否会从保护区块链上转移，从而可能影响其去中心化和安全性？只有时间才能证明一切。目前来看，这是一个令人着迷的发展，并提醒人们，即使在加密世界中，适应也是关键。

Looking Ahead

展望未来

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，比特币挖矿的盈利能力可能会下降，但这些矿工绝不会出局。他们不断努力、适应并寻找新的方式来留在游戏中。谁知道呢，也许有一天你的加密设备将处理人工智能算法而不是哈希块。未来很奇怪，但是嘿，至少很有趣！