By Bitcoin 雜誌 - 1 年前 - 閱讀時間：3 分鐘
Bitcoin不斷上升的難度擠壓礦工的盈利能力
在經歷了一次重大的難度調整後，隨著礦工的盈利能力受到擠壓，哈希價格將跌至新低。
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Bitcoin’s latest difficulty adjustment came in at 9.26% earlier today, its second largest increase this year behind 9.32% back in January. As per usual, the increase is a result of a surge in hash rate over the last two weeks driving faster block production times. Now both hash rate and difficulty sit just below all-time high values. Hash rate is up 10.27% over the last 30 days.
過去幾週哈希率增長背後的驅動力似乎有幾個因素：更大的公共礦工正在插入更多的鑽機，這與他們的 2022 年擴張計劃相一致； 我們正在度過炎熱的夏季，特別是在德克薩斯州，礦工們根據購買力協議的激勵措施暫時關閉鑽機； 價格上漲至 25,000 美元將推動更多的在線哈希，而效率較低的鑽機將轉向更高效、更具競爭力的運營。 很難量化哪個是最具影響力的力量，但似乎所有力量都在哈希率增長中發揮了作用。
Bitcoin mining difficulty increase is a result of a surge in hash rate over the last two weeks Multiple factors have likely been driving the Bitcoin hash rate in the last few weeks.To see this level of rise in difficulty this quickly is a rare occasion and looks less sustainable than gradual rises in hash rate and difficulty we’ve seen in the past. If anything, the latest difficulty rise brings more pressures to miners’ profit margins at a time where we think bitcoin price has further to fall.
Hash price continues its fall from its golden period, down nearly 17% over the last 30 days. If the increase in hash rate is mostly driven by prefinanced expansion plans by major public miners, the hash rate increase isn't reflective of a sustained increase in hash rate coming online on the margin.
從上面的圖表可以看出，即使是短期內的逆轉也不會改變哈希率不斷提高和網絡難度上升的長期趨勢。
哈希價格繼續從黃金時期下跌，在過去 17 天內下跌了近 30%。我們之前強調了一些分析來自 奧術研究 that showed major public miners' baseline bitcoin production cost (based solely on electricity prices) were around $6,000 to $10,000. You can read more on that research by clicking the above link or reading “Bitcoin 哈希率從歷史高點暴跌 17%.” Although we haven’t performed this analysis ourselves or triangulated the data, there’s one estimate that points to an “all-in” bitcoin production cost across public miners to be closer to $27,600 in Q2 of this year. This cost would include general expenses, maintenance, payroll, interest expenses on outstanding loans and other costs outside of electricity.
Even assuming that estimate could be heavily overstated because we don’t have insight into the quality or methodology of the analysis, a bitcoin price hovering around $20,000 still puts major public miners on the ropes to achieve profitability on each bitcoin 開采的。
原始來源： Bitcoin 雜誌