【12.13国外百咖说：顺便学英语】比特币挖矿经历了十年来最糟糕的一年

Bitcoin miners held a stunning competition in 2019, lifting both the hashrate and difficulty to all-time highs. But it turns out for significant stretches, mining pools absorbed serious losses.

BITCOIN MINERS UNDETERRED BY FALLING PRICES

价格下跌并没有阻止比特币矿工

Most of the big miners this year produced coins at a loss due to unfavorable market prices. But this did not lead to a capitulation, as previously expected. Instead, miners redoubled their efforts to get some of the last 12.5 BTC rewards before the halving next year.

由于市场价格不利，今年大多数大型矿业公司亏损生产硬币。但是，这并没有像以前预期的那样导致投降。相反，矿工加倍努力，争取在明年减半之前获得最后12.5个BTC奖励。

A look back at 2019 shows two periods where miners continued competing for rewards despite prices falling below breakeven.

回顾2019年，有两个时期，尽管价格跌破盈亏平衡点，矿工仍在继续争夺奖励。

The last months of the year were also one of the periods where mining happened below the breakeven point. However, miners in the past have also achieved very high potential returns, and some may decided to hold onto the coins. Newly produced bitcoin also have a value of their own, due to their lack of history. However, the halving of the reward may also lead to miners limiting their activity, as they will not be able to even accumulate BTC.

一年的最后几个月也是采矿发生在收支平衡点以下的时期之一。但是，过去的矿工也取得了很高的潜在回报，有些矿工可能会决定保留这种硬币。由于缺乏历史，新生产的比特币也具有自己的价值。但是，减半的奖励还可能导致矿工限制其活动，因为他们甚至无法累积BTC。

In 2019,minersalso had access to futures markets, which may have offset some of the losses from selling on the spot or OTC markets. Now, with options on futures also available, some bitcoin miners may try to hedge the risk.

在2019年，矿工还可以进入期货市场，这可能抵消了现货或场外交易市场卖出的部分损失。现在，随着期货期权的推出，一些比特币矿工可能会试图对冲这一风险。

BREAKEVEN PRICE DIFFICULT TO ESTIMATE

收支平衡的价格难以估计

The Bitcoin network hashrate keeps fluctuating, and recently fell to 88 quintillion hashes per second, from above 101 quintillion hashes just a day ago. The biggest contributors remain top Chinesemining pools, with Poolin taking the top spot in block discovery.

比特币网络的哈希率一直在波动，最近从一天前的101亿个哈希值降到了每秒88亿个哈希值。最大的贡献者仍然是中国最大的矿池，普林在区块发现中位居榜首。

At this point, it is possible some of the older farms, which invested inS9 ASIC, to be still viable, and actually have a more beneficial ratio of expenses to bitcoin market prices.

此时，一些在S9 ASIC上进行投资的较老的农场可能仍然可行，并且实际上在支出与比特币市场价格之间的比率更高。

There is no consensus on breakeven prices, but the current loss estimate assumes a breakeven price between $7,000 and $8,000. But at cheaper electricity prices, miners can afford to produce BTC at much lower prices. At $0.05 per KWh, breakeven is much lower. Rough estimates place the breakeven for Chinese hydroelectric mining farms at $3,500.

关于盈亏平衡价格，目前尚无共识，但当前的亏损估算假设盈亏平衡价格在7,000美元至8,000美元之间。但是，以较低廉的电价，矿工有能力以更低的价格生产BTC。每千瓦时0.05美元，收支平衡要低得多。粗略估计，中国水力发电场的盈亏平衡点为3500美元。

Historical prices show bitcoin prices also move close to their mining breakeven positions, regardless of time period:

历史价格表明，无论时间长短，比特币的价格也接近其采矿盈亏平衡点：

Even at the current levels of BTC around $7,200, mining is from 15 to 20 times higher in comparison to the hashrates in December 2017, during peak BTC appreciation.

即使在当前的BTC水平约为7,200美元的情况下，在BTC峰值升值期间，挖矿仍比2017年12月的哈希率高出15到20倍。

原文地址：https://bitcoinist.com/bitcoin-mining-experiences-worst-year-in-half-a-decade/

—-

编译者/作者：zachzorro

玩币族申明：玩币族作为开放的资讯翻译/分享平台，所提供的所有资讯仅代表作者个人观点，与玩币族平台立场无关，且不构成任何投资理财建议。文章版权归原作者所有。