Let's get through the halving and earn the maximum!
At the end of a January article that shared our expectations for the recently arrived 2024, we wrote: “Let's get through the halving and earn the maximum we've been preparing for since 2022!”
We followed this simple formula throughout 2024 and now, looking back, we can say that despite all the difficulties, we achieved success with the support of our community, fulfilled everything we set out to do, and in addition, increased the project's potential, aiming to develop and consolidate our success by the end of 2025.
Q1. Updated mechanics, ACH, Treasury, and VOTE#9
Recall that we entered 2024 with the updated reward distribution mechanics, which, as part of the decision taken by the Minto community on VOTE#7, allowed us to allocate the most energy efficient hashrate for $BTCMT holders (ACH), and direct all other (unbought) capacities to deposit the just created Treasury saving fund.
Thus, in January 2024, the Active Customer Hashrate (ACH) was 27,600 TH/s with the Customer Energy Efficiency (CEE) - 38.9 W/TH, and Total Hashrate - 104,000 TH/s with the Average Energy Efficiency (AEE) - 50.3 W/TH.
By March, the Treasury deployed in the Ethereum blockchain had accumulated about $150,000 and we held VOTE#9, offering to direct them to purchase new energy-efficient miners in order to improve CEE, reaching the target value of 30-32 W/TH, corresponding to our post-halving profitability expectations. The Minto community supported the idea, and we launched the process of purchasing and delivering equipment.
Q2. BTC halving, new Minto Dashboard, and EE improvement
The April halving has caught up with the Minto team at the TOKEN2049 conference in Dubai, after the launch of our new Dashboard with the ability to purchase $BTCMT using a bank card and register a crypto wallet via email or Google account. This is a very convenient solution for users who are used to traditional Internet services (Web2), and are in no hurry to dive into the intricacies of working in a decentralized Web3 environment, whose main distinguishing feature is the use of a cryptocurrency wallet, rather than a familiar account.
We predicted several difficult months after the April halving, and indeed, the results between May and July were quite modest. However, even in such conditions, Minto remained profitable, overcoming perhaps the most serious challenge since its launch.
In May, mining profitability slumped three times, and compared to April - by 80%. Had we been working in the 100% mining hardware uptime mode, we would have seen a net loss of about $70,000 in our April results! However, the smart 65% uptime mode algorithm allowed us to stay in the black with a result of about $14,000. Smart technologies are tested exactly in such critical modes and fully justify themselves!
In May and June, as we received new miners, we began to turn off the old inefficient hardware and replace it with new equipment. Thus, we managed to improve AEE by almost 30% - from 50.3 W/TH to 36 W/TH with a constant hashrate, and CEE - up to 34.2 W/TH.
Q3. Minto in Nashville, 144 PH/s, 28.5 W/TH, and listing on MEXC
In July, we participated in the Bitcoin2024 conference in Nashville, where we showed offline what we have achieved, talked about our immediate plans and goals, and also offered a turnkey solution for those who faced problems with mining profitability after halving. This event is remembered by an unprecedented number of participants, including Michael Taylor, Edward Snowden and the then-US presidential candidate Donald Trump.
In August, we completed an upgrade of the equipment, as a result of which the project hashrate reached 144,000 TH/s, AEE 30 W/TH, CEE 28.5 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%! Thus, we have fully achieved our targets and are ready to face the market growth in the best possible shape.
In September, we launched the trading of the BTCMT-USDT pair on the centralized MEXC exchange. Thus, in addition to the decentralized PancakeSwap exchange, where its current liquidity is $1.4 million, the BTCMT token is now traded on the centralized MEXC exchange. Listing on a CEX is an important stage in the evolution of any token, which contributes to an increase in its liquidity and market price formation. Minto intends to increase liquidity on centralized exchanges, expanding its hashrate management tools for its users, as well as supporting and motivating liquidity providers.
In September, we increased our net profit by 75% compared to August, so the first month of autumn can be called a turning point in terms of the return of the cryptocurrency market in general and Minto in particular to a steady upwards track. The next month added another 30%.
Q4. VOTE#10, purchase of 280 PH/s, and $75k of net profit in November
In October, Minto received an option to purchase 280,000 TH/s with an energy efficiency of 30-36 W/TH at a price of $1-2 per 1 TH/s. As part of VOTE#10, the Minto community supported the decision to direct the funds from the Treasury and from the sale of $BTCMT to purchase equipment, achieving the target AEE of 33 W/TH. The process of buying and delivering miners has been launched, let's wait for the results!
In early November, elections were held in the United States, as a result of which bitcoin began an almost recoilless growth towards $100k. According to the November results, Minto improved its net profit by another 86% compared to October, reaching the early 2024 pre-halving levels of profitability.
Below are the financial results for 2024, in which we have already earned 46% more than in the entire 2023 ($547.3k vs $374.1k). The final touch is still ahead, and we know the details in early 2025, when we receive the results of December.
So, halving is behind us, the market is gaining momentum, the Minto infrastructure is fully ready for effective operation throughout the new halving cycle, and we continue to increase the hashrate and optimize the project parameters.
Minto in 2025
At the beginning of 2025, we will receive the miners purchased in October and significantly improve the project parameters once again.
We will introduce you to our plans in detail a little later, but the main thing is that, as always, we are determined to earn as much as we can, we believe that 2025 can be one of the most successful years for the cryptocurrency market and mining, and most importantly, we are technically ready for it as never before!
Stay with Minto, because it's time to show what we're really capable of!
