比特币挖矿盈利率距历史低点不到 5%

Decrypt 的艺术、时尚和娱乐中心。尽管比特币网络第四次“减半”事件发生在两个多月前，

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.

尽管最近比特币价格上涨，但比特币矿商的盈利能力仍然较低，每日“哈希价格”目前仅距历史低点 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，比特币挖矿盈利能力一直在稳步下降，并随着时间的推移创下新低。现在，最新数据显示，每日“哈希价格”距离创下新的历史低点仅差 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.

根据 6 月 26 日算力指数的数据，比特币每日哈希价格目前为每 petahash 每秒（PH/s）48.29 美元。该指标量化了矿工在特定哈希率下每天可以赚取多少钱。

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.

比特币“哈希率”是指比特币矿工可以进行猜测以解决挖掘比特币区块所需的数学问题并赚取新印刷的比特币作为奖励的速度。 1 petahash 等于 1 万亿个哈希值。

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.

每日哈希价格在 5 月 1 日创下历史新低，当时该指标跌至每 PH/s 44.76 美元。当时，比特币的价格在短暂上涨至 34,000 美元后跌至 30,000 美元的低点。

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，随着比特币价格在整个 6 月份回升，回升至 32,000 美元，每日哈希价格也出现了一些改善。例如，6 月 10 日，该指标升至每 PH/s 53.86 美元的高位。

Related: Bitcoin mining difficulty sees largest negative adjustment in 2024

相关：2024年比特币挖矿难度出现最大负调整

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 日之后，每日哈希价格再次开始走低，最终在 6 月 26 日达到 48.29 美元。这比 6 月高点下跌了 10%。

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.

随着每日哈希价格持续下跌，比特币矿工似乎正在慢慢接近无利可图的地步，特别是考虑到采矿过程的专用计算机设备和耗电性质。

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.

随着全球竞争随着时间的推移而加剧，特别是随着算力的上升，个体矿工的利润率正在缩小，导致除了最高效的公司之外的所有公司都陷入净亏损。

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

比特币挖矿盈利能力距历史最低点不到 5%。

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

你们能开始刻字、铸造硬币、狙击……几乎任何东西吗？ 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.

为了参与比特币挖矿游戏，矿工需要专门且耗电的计算机设备，以及负担得起的电力来保持挖矿设备的运行。

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.

根据 CryptoQuant 6 月 26 日的分析，由于盈利能力下降，许多比特币矿商本月开始向交易所出售更多比特币。

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.

这种行为表明矿商可能正在弥补成本或为未来更低的价格做准备。例如，截至 6 月 10 日，Marathon Digital (MARA) 在 6 月份已售出 1,400 BTC，而整个 5 月份仅售出了 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，尽管盈利能力下降以及比特币减半的影响，矿业股总体上似乎并未受到影响。

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.

尽管各公司的表现各不相同，但提供整个比特币挖矿行业敞口的 Valkyrie 比特币矿工 ETF (WGMI) 上个月上涨了 25%，在 6 月份达到 2024 年的高点。

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%，大型比特币投资者 MicroStrategy (MSTR) 下跌 13%。