分析师：比特币矿工财务健康跌至熊市水平，生存压力加剧

Odaily Planet Daily News: CryptoQuant analyst Darkfost stated on platform X that Bitcoin miners are currently facing severe operational pressure, with their financial condition indicators having dropped to levels seen during historically high-pressure bear market phases. Analyzing multiple data dimensions including miners' issuance revenue, block time, transaction fees, and overall revenue, the miners' financial health ratio (7-day moving average) is currently oscillating within the 10% to 30% range, reflecting significant pressure on mining companies' profitability. This indicator previously showed similar low-level performance near the peak of bear markets. Analysts believe that against the backdrop of halved block rewards, continuously increasing mining difficulty, and insufficient fee income, some mining companies may face greater cash flow pressure.

As market competition intensifies, high-cost miners may be forced to shut down equipment, sell BTC reserves, or seek financing. Changes in miner behavior could also become a significant factor affecting Bitcoin market supply.