February is a short month, and it also saw a two-week period of highest Bitcoin network difficulty - 114.1673T. In such extreme conditions, we mined 1.47 BTC, earning $63k in net profit.
By the way, exactly one year ago, in pre-halving February 2024, we earned about the same amount ($66k), but it's hard to imagine that since then the cost of mining per bitcoin has increased by over 80% (from $29k to $52k), network difficulty - by 35%, and the BTC exchange rate almost doubled!
However, the rate is the weakest link on this list. Of course, we would like bitcoin to reach $1 mln, but our main strength is not expectations, it’s energy efficiency. That is why we are getting strong results regardless of the exchange rate fluctuations .
In February, we grew our Treasury by almost 20%, accumulating more than 3 BTC. We are expecting the arrival of new miners and a multiple increase in the project hashrate. As new capacities are put into operation, the rate of filling the Treasury and the project’s overall potential will increase.
In February, Bitcoin moved away from the January highs, so the difference between 65% and 100% uptime returns increased to 40% ($63k net profit versus the estimated $37k). We continue to operate in the 65% uptime mode, but we are always ready for a change in market conditions in favor of switching ACH to 100%.
So, February is over, and with it - the winter in the Northern Hemisphere, in 3 months of which we have mined 4.9 BTC. Let's see what spring 2025 will bring!
While the creation of the US crypto reserve is a debatable issue, the SEC's turn towards the crypto industry is already a fact, so whatever it is, the mining industry remains reasonably optimistic, and Minto continues to work as always!
Stay tuned and, while the financiers are in discussions, create your own personal SBR using Minto!
