后减半时代的采矿业：适者生存？
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With block rewards cut in half, mining profitability is under extreme pressure. Only the most efficient operations with access to cheap energy will thrive. Are we heading toward greater centralization?
The halving is the ultimate stress test for miners. Their primary revenue stream just got cut by 50% overnight. This will likely force older, less efficient hardware (like some S19 models) offline unless the Bitcoin price rises significantly to compensate.
The hash rate might dip temporarily, but the network's difficulty adjustment will eventually re-balance. The big question is about geography and energy. Miners with access to stranded renewable energy or strategic political backing will have a major advantage.
Discussion Starters:
- Will we see a major wave of miner capitulation?
- How important is transaction fee revenue now for mining sustainability?
- Is mining becoming an industry only for mega-corporations?