First of all, thanks to everyone who stopped by our booth at the annual Bitcoin2024 conference held on July 25-27 in Nashville! Just like last year in Miami, this event attracted a huge audience, and even exceeded our expectations in terms of the number of our visitors!
We were extremely glad to see your faces, answer your questions, and breathe in the unique atmosphere of the holiday of crypto enthusiasts and industry's titans together. Thanks again to everyone who came, as well as to those who could not come, but were with us in spirit! Together we can do a lot!
The current conference was somewhat symbolic. We were unexpectedly set up right next to Luxor, the company that coined the term Hashprice used by all miners. It is truly amazing that when their visitors asked how to work with such a low hashrate, it was enough for them to step over to the neighboring Minto booth, where we offered a turnkey solution that ensures mining profitability even in these tough conditions!
Also, we listened carefully to all the speakers, and especially US presidential candidate Donald Trump, who promised to create a state reserve in bitcoins when he came to power and use it to solve the problem of the country’ huge $35-trillion debt, which also looked symbolic. The fact is that at the end of 2017, this idea was already in the air, since the US national debt at that time was $21 trillion, and we all remember how many bitcoins can be issued in total, and why then wouldn't one bitcoin cost $1 million?.. And so, the idea, which seemed conspiratorial in the past, was finally voiced and gained a second wind on a much stronger foundation.
However, all in good time. Our task is to ensure sufficient profitability before this Brave New World’s arrival. So, here’s the data for July:
The drop in difficulty as a result of the widespread shutdown of unprofitable miners allowed us to reduce the cost of electricity and mine slightly more than 0.7 BTC of revenue with a net profit of about $12.5k.
It is curious that as a result of all market collisions, we would have been able to earn even in 100% uptime mode, which was still impossible after halving. However, this profit is still incomparable with that provided by our inviolable smart 65% mining hardware uptime algorithm:
⚙️The overall July statistics are shown below. We consistently ensure the growth of TVL and fill the Treasury, and the BTCMT token remains a reliable haven from the risks caused by market unpredictability, since it is backed with the most valuable asset in the world of digital gold - its mining facilities:
⛏ We continue the planned replacement of outdated miners with new energy-efficient ones and are still on the way to significantly improve mining parameters as equipment is received and cleared by the customs. The results will follow!
We also keep improving our website and dashboard. Have you noticed that you can now switch from a dark theme to a light one?
To sum up, despite the fact that August opened with a total market failure, we would like to remind everyone whose mood it soured of early March 2020, when bitcoin unexpectedly fell below $3,800 (did this really happen?) after a seemingly good recovery. We all remember what happened next.
Therefore, there is no reason to panic, and the Minto team just continues to work to keep getting inspiring financial results every month. Stay with us, and tomorrow will definitely be better than yesterday!