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SUI $1.20 +4.30%
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META $730.79 +0.23%
NVDA $237.11 +2.86%
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MU $1,092.33 +4.22%
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数据:比特币矿工利润率继续承压,收入跌破生产成本

2026-06-25 06:25:50

ChainCatcher 消息,比特币矿工收入过去一年持续下滑,目前 7 日移动平均日收入约 3,000 万美元,明显低于去年夏季超过 5,000 万美元的水平。其中,交易手续费贡献已降至每日不足 25 万美元,相比区块补贴几乎可以忽略不计。

与此同时,比特币价格约在 62,500 美元附近,低于摩根大通估算的约 78,000 美元生产成本。该价格低于生产成本的状态已持续五个月,为本周期最长时间。历史上,生产成本通常被视为比特币价格的软性底部区域。目前估计约 20% 的矿工在当前价格下已处于亏损状态,压力也开始反映在网络层面。

过去六个月,挖矿难度对比特币价格的敏感度升至 0.62,说明高成本矿工越来越倾向于根据价格波动开关矿机,而不是持续亏损挖矿。6 月第二周,比特币挖矿难度下降 10%,这是今年第二次出现类似幅度下调。此前一季度也曾出现同等规模调整,两次都发生在价格持续低于生产成本的阶段,显示矿工端压力正在加深。

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