zpr\u00e1v\u011b o\u00a0bitcoinov\u00e9 t\u011b\u017eb\u011b<\/a> za prvn\u00ed \u010dtvrtlet\u00ed uvedla, \u017ee v\u00fdnosnost t\u011b\u017eby na za\u010d\u00e1tku b\u0159ezna klesla na nov\u00e9 minimum od lo\u0148sk\u00e9ho halvingu, tedy od sn\u00ed\u017een\u00ed odm\u011bny za vyt\u011b\u017een\u00fd blok. Jin\u00fdmi slovy, za stejn\u00fd v\u00fdkon dnes t\u011b\u017ea\u0159i inkasuj\u00ed v\u00fdrazn\u011b m\u00e9n\u011b ne\u017e je\u0161t\u011b v\u00a0l\u00e9t\u011b lo\u0148sk\u00e9ho roku.<\/p>\nPodobn\u011b situaci popisuje i\u00a0\u010desk\u00e1 spole\u010dnost Braiins, kter\u00e1 vyv\u00edj\u00ed software pro bitcoinov\u00e9 t\u011b\u017ea\u0159e. \u201eHashprice, tedy v\u00fdd\u011ble\u010dnost z\u00e1kladn\u00ed jednotky t\u011b\u017eby, je na historick\u00e9m minimu,\u201c upozor\u0148uje pro SZ marketingov\u00fd \u0159editel firmy Kristian Csepcsar.<\/p>\n
\u201eD\u016fsledkem toho velk\u00e1 \u010d\u00e1st star\u0161\u00ed generace hardwaru nyn\u00ed operuje na z\u00e1porn\u00fdch mar\u017e\u00edch, co\u017e slou\u017e\u00ed jako hlavn\u00ed ekonomick\u00fd sign\u00e1l t\u011b\u017ea\u0159\u016fm. Zna\u010dn\u00e1 t\u011b\u017eebn\u00ed kapacita v\u00a0d\u016fsledku toho byla vypnuta,\u201c dod\u00e1v\u00e1.<\/p>\n
V\u00fdnosnost bitcoinov\u00e9 t\u011b\u017eby kles\u00e1![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/04\/btc.webp.jpeg\")
Foto: CoinShares<\/p>\n
V\u00fdd\u011ble\u010dnost z\u00e1kladn\u00ed jednotky t\u011b\u017eby je na historick\u00e9m minimu.<\/p>\n
Graf ukazuje pokles takzvan\u00e9 hashprice, tedy toho, kolik dolar\u016f denn\u011b vyd\u011bl\u00e1 ur\u010dit\u00fd t\u011b\u017eebn\u00ed v\u00fdkon. Lev\u00e1 osa ukazuje denn\u00ed v\u00fdnos p\u0159epo\u010dten\u00fd na standardn\u00ed jednotku v\u00fdpo\u010detn\u00edho v\u00fdkonu pou\u017e\u00edvanou v bitcoinov\u00e9 t\u011b\u017eb\u011b. Z historick\u00e9 k\u0159ivky je patrn\u00e9, \u017ee t\u011b\u017ea\u0159i dnes za stejn\u00fd v\u00fdkon inkasuj\u00ed m\u00e9n\u011b ne\u017e v minul\u00fdch letech.Modr\u00e9 \u010d\u00e1ry p\u0159edstavuj\u00ed sc\u00e9n\u00e1\u0159e do budoucna. Ukazuj\u00ed, jak by se v\u00fdnosnost t\u011b\u017eby mohla vyv\u00edjet p\u0159i r\u016fzn\u00fdch cen\u00e1ch bitcoinu. Tmav\u0161\u00ed modr\u00e1 linie p\u0159edstavuje z\u00e1kladn\u00ed odhad, sv\u011btlej\u0161\u00ed horn\u00ed k\u0159ivka po\u010d\u00edt\u00e1 s v\u00fdrazn\u011b vy\u0161\u0161\u00ed cenou bitcoinu a sv\u011btlej\u0161\u00ed spodn\u00ed k\u0159ivka naopak s m\u00e9n\u011b p\u0159\u00edzniv\u00fdm sc\u00e9n\u00e1\u0159em.<\/p>\n
CoinShares z\u00e1rove\u0148 upozor\u0148uje, \u017ee \u010d\u00e1st sv\u011btov\u00e9 t\u011b\u017eebn\u00ed flotily je p\u0159i sou\u010dasn\u00fdch podm\u00ednk\u00e1ch ztr\u00e1tov\u00e1 a\u00a0\u017ee v\u00a0nadch\u00e1zej\u00edc\u00edm obdob\u00ed budou pro t\u011b\u017ea\u0159e je\u0161t\u011b d\u016fle\u017eit\u011bj\u0161\u00ed cena elekt\u0159iny, efektivita stroj\u016f a\u00a0p\u0159\u00edstup ke kapit\u00e1lu. D\u016fvod\u016f je n\u011bkolik. Nejv\u011bt\u0161\u00ed roli hraje pr\u00e1v\u011b lo\u0148sk\u00fd halving, tedy ud\u00e1lost, p\u0159i n\u00ed\u017e se pravideln\u011b sni\u017euje odm\u011bna za vyt\u011b\u017een\u00fd blok v\u00a0bitcoinov\u00e9 s\u00edti na polovinu.<\/p>\n
T\u011b\u017ea\u0159i tak od jara 2024\u00a0dost\u00e1vaj\u00ed za stejnou pr\u00e1ci m\u00e9n\u011b nov\u00fdch minc\u00ed ne\u017e d\u0159\u00edv. Pokud sou\u010dasn\u011b neroste cena bitcoinu dost rychle a\u00a0s\u00ed\u0165 z\u016fst\u00e1v\u00e1 velmi konkuren\u010dn\u00ed, jejich mar\u017ee se zten\u010duj\u00ed. CoinShares ve sv\u00e9 anal\u00fdze uv\u00e1d\u00ed, \u017ee pro mnoho provozovatel\u016f je p\u0159i dne\u0161n\u00edch cen\u00e1ch a\u00a0n\u00e1kladech rozhoduj\u00edc\u00ed, zda maj\u00ed opravdu levnou energii.<\/p>\n
T\u011b\u017eba pod tlakem cen energie<\/p>\n
Tak\u00e9 podle Braiins se t\u011b\u017eba dlouhodob\u011b p\u0159esouv\u00e1 tam, kde je energie nejlevn\u011bj\u0161\u00ed. \u201eT\u011b\u017eba se v\u017edy p\u0159esouvala za nejlevn\u011bj\u0161\u00ed energi\u00ed a\u00a0tento trend se zrychluje,\u201c \u0159\u00edk\u00e1 Csepcsar. V\u00a0Evrop\u011b je podle n\u011bj v\u00fdznamn\u00e1 \u010d\u00e1st t\u011b\u017eby nav\u00e1zan\u00e1 na vodn\u00ed energii v\u00a0seversk\u00fdch zem\u00edch nebo na projekty, kde t\u011b\u017eba pln\u00ed i\u00a0druhotnou funkci, nap\u0159\u00edklad vyt\u00e1p\u011bn\u00ed.<\/p>\n
Ve Spojen\u00fdch st\u00e1tech, zejm\u00e9na v\u00a0Texasu, je pak podle Braiins velk\u00e1 \u010d\u00e1st t\u011b\u017eby nap\u00e1jena p\u0159ebytky obnoviteln\u00e9 energie. I\u00a0proto nemus\u00ed m\u00edt r\u016fst maloobchodn\u00edch cen energi\u00ed na pr\u016fmyslovou t\u011b\u017ebu v\u017edy stejn\u00fd dopad jako na dom\u00e1cnosti nebo b\u011b\u017en\u00e9 firmy.<\/p>\n
Kdo nem\u00e1 levnou energii, mus\u00ed \u0161et\u0159it, vyp\u00ednat m\u00e9n\u011b efektivn\u00ed za\u0159\u00edzen\u00ed nebo prod\u00e1vat \u010d\u00e1st bitcoinov\u00fdch rezerv. Vedle toho je ale na trhu patrn\u00fd je\u0161t\u011b jeden trend. \u201eVelc\u00ed ve\u0159ejn\u011b obchodovan\u00ed t\u011b\u017ea\u0159i se st\u00e1le v\u00edce orientuj\u00ed na datov\u00e1 centra pro um\u011blou inteligenci a\u00a0n\u00e1ro\u010dn\u00e9 v\u00fdpo\u010detn\u00ed slu\u017eby. N\u011bkte\u0159\u00ed jako diverzifikaci, jin\u00ed jako kompletn\u00ed strategickou oto\u010dku,\u201c popisuje Csepcsar.<\/p>\n
Z\u00e1rove\u0148 dod\u00e1v\u00e1, \u017ee t\u011b\u017ea\u0159i, kte\u0159\u00ed u\u00a0samotn\u00e9 t\u011b\u017eby z\u016fst\u00e1vaj\u00ed, rychle p\u0159ech\u00e1zej\u00ed na nejnov\u011bj\u0161\u00ed generaci hardwaru, kter\u00e1 je v\u00fdrazn\u011b \u00fasporn\u011bj\u0161\u00ed ne\u017e star\u0161\u00ed stroje. Sou\u010dasn\u00e9 podm\u00ednky se podle firmy prom\u00edtaj\u00ed i\u00a0do popt\u00e1vky po n\u00e1stroj\u00edch, kter\u00e9 t\u011b\u017ea\u0159\u016fm pom\u00e1haj\u00ed provoz optimalizovat.<\/p>\n
\u201eU\u017e\u0161\u00ed mar\u017ee sp\u00ed\u0161e zvy\u0161uj\u00ed d\u016fle\u017eitost optimaliza\u010dn\u00edho softwaru, kter\u00fd pom\u00e1h\u00e1 vyt\u011b\u017eit maximum z\u00a0existuj\u00edc\u00edho hardwaru,\u201c uvedl Csepcsar. Tlak na efektivitu tak podle firem z\u00a0oboru st\u00e1le siln\u011bji ovliv\u0148uje chov\u00e1n\u00ed \u010d\u00e1sti trhu vedle samotn\u00e9ho pohybu ceny bitcoinu.<\/p>\n
Krok Riotu tak zapad\u00e1 do \u0161ir\u0161\u00edho v\u00fdvoje v\u00a0odv\u011btv\u00ed. Zat\u00edmco d\u0159\u00edve t\u011b\u017ea\u0159i \u010dasto zd\u016fraz\u0148ovali, \u017ee vyt\u011b\u017een\u00e9 bitcoiny neprod\u00e1vaj\u00ed a\u00a0rad\u011bji je dr\u017e\u00ed v\u00a0rozvaze jako dlouhodobou rezervu, dnes \u010d\u00e1st firem sah\u00e1 k\u00a0prodeji \u010d\u00e1sti z\u00e1sob, aby z\u00edskala hotovost na provoz, investice nebo sn\u00ed\u017een\u00ed dluhu.<\/p>\n
Rezervy tak pro n\u011b p\u0159est\u00e1vaj\u00ed b\u00fdt pouze nedotknutelnou z\u00e1sobou a\u00a0st\u00e1le \u010dast\u011bji slou\u017e\u00ed i\u00a0jako finan\u010dn\u00ed n\u00e1stroj. T\u011b\u017ea\u0159i sice bitcoinu d\u00e1l v\u011b\u0159\u00ed, z\u00e1rove\u0148 si ale v\u00a0\u0159ad\u011b p\u0159\u00edpad\u016f nemohou dovolit ka\u017edou vyt\u011b\u017eenou minci pouze odkl\u00e1dat stranou.<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoinov\u00e1 t\u011b\u017eba se na prvn\u00ed pohled m\u016f\u017ee zd\u00e1t jako jednoduch\u00fd byznys. Firmy provozuj\u00ed specializovan\u00e9 po\u010d\u00edta\u010de, kter\u00e9 sout\u011b\u017e\u00ed o\u00a0vytv\u00e1\u0159en\u00ed…\n","protected":false},"author":2,"featured_media":54143,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[3244,67,68,19455,1413,778],"class_list":{"0":"post-54142","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-byznys","8":"tag-bitcoin","9":"tag-business","10":"tag-byznys","11":"tag-digitalni-meny","12":"tag-financni-trhy","13":"tag-kryptomeny"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@cz\/116401086362247069","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/54142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/comments?post=54142"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/posts\/54142\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media\/54143"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/media?parent=54142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/categories?post=54142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/cz\/wp-json\/wp\/v2\/tags?post=54142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![](\"https:\/\/www.europesays.com\/cz\/wp-content\/uploads\/2026\/04\/jqqBY.jpeg\")
<\/a><\/p>\n