In the spring of 2024, the Minto community decided to use Treasury funds to purchase modern miners. As a result, by autumn, the project hashrate increased by 40% from 104 to 144 PH/s, and the Average Energy Efficiency (AEE) improved by 40% from 50.3 to 30 W/TH.
As part of the mining hardware upgrade, about 95 PH/s of new capacities were put into operation. Due to the shutdown of 55 PH/s of inefficient miners installed back in 2021, the actual increase in the effective hashrate was +200%. Refer to our August report for a more detailed account.
Thus, Minto used exclusively internal resources to meet the market requirements that became tougher due to halving and significantly maximized its competitiveness among mining companies. Today, at the very beginning of a new 4-year cycle, we are superbly equipped and ready to realize the full potential of a growing market with maximum efficiency.
However, the market offers new opportunities, and Minto cannot stop there. Halving made many mining companies unprofitable (even those with quite modern equipment) since they were unable to maintain an appropriate level of operating costs (electricity prices). In this situation, they have only one way out - to disable and sell their miners to a stronger player.
We conducted a study on which miners in today's market would have the shortest payback period in our case, and at the same time would be able to work profitably for as long as possible.
If we focus on the most modern models, e.g., the Antminer S21 with an energy efficiency of about 16 W/TH, 100 PH/s (100,000 TH/s) will cost about $2.5 million excluding shipping.
Based on the fact that last year the project earned $375,000 net, and this year this amount may reach $0.5 million, such equipment will pay off no earlier than in 2-2.5 years, even in light of the double gain in energy efficiency. This is a significant investment horizon with such major investments.
We also assessed the potential of less energy-efficient equipment. For the Minto project, the acceptable energy efficiency range is 30-36 W/TH. As a result of painstaking work, an offer corresponding to our requirements was found on the market, where 100 PH/s cost about $120-150k. With this incoming cost, this equipment will pay off already in the Q2 or Q3 of 2025, and will most likely maintain profitability until the halving of 2028.
Given such an impressive price difference, it is obvious to us that our project’s development should follow the second path. Thus, we will not only improve Minto’s financial performance, but also enjoy complete freedom of decision-making in 2025 and beyond, while significant investments critically narrow the space for development until they are fully repaid.
Thus, the following issue is on the agenda:
Is the Minto community ready to allocate Treasury funds for the purchase of mining hardware with an Average Energy Efficiency (AEE) of 30-36 W/TH in order to at least double (and potentially triple) project hashrate due to minimal investments, and thereby bring the project to a new level in revenue and net profit?
To buy the maximum possible amount of hashrate, we plan to use not only the Treasury funds, but also to raise funds from $BTCMT SALE on the project's website on the following conditions:
* The discount is set from the $BTCMT market price at the time of the start of voting and is provided in the form of WEEKLY payments of the respective $BTCMT amount in equal shares over the next 3 MONTHS directly to the buyers' wallets.
FOR EXAMPLE: when buying 120,000 BTCMT at the current market rate of $0.5 for 1 BTCMT ($60,000), the buyer receives a 15% discount equal to $9,000, which corresponds to 18,000 BTCMT. These tokens will be transferred to the buyer's wallet within 3 months in equal shares weekly (12 times) in the amount of 1,500 BTCMT (1,500 x 12 = 18,000). Thus, the buyer who paid $60,000 will eventually receive 120,000 + 18,000 = 138,000 BTCMT.
All Treasury funds, as well as all funds raised from the token sale, will be used to purchase miners.
The $BTCMT sale will take place within 5 working days from the moment of a positive decision on this vote.
Given that we have already received an equipment purchase option, we propose to hold a vote in the very near future and, in case of a positive decision, realize our advantage as a stronger player, and become even stronger!
The Minto team especially appreciates such windows of opportunity that provide a chance for multiple growth. Let's take advantage of the situation together and enter 2025 with radically updated project parameters compared to a year ago!
