In March, Minto showed the best results in the project history, earning $112.5k of net profit, and almost reached parity between 65% and 100% mining hardware uptime, which, according to our estimates, would have occurred at a weighted average rate of $74k/BTC.
At the same time, March became a record month in terms of miner income in the entire cryptocurrency history. However, the halving on the Bitcoin network (~April 19) will no longer allow us to move forward at the same pace, and in April we will have to take a small step back.
As a result of halving, the reward for a mined block will decrease from 6.25 BTC to 3.125 BTC, and about 20% of the world's mining hardware will become unprofitable and will be disabled, which will entail a respective drop in difficulty. Thus, mining profitability will simultaneously decrease by 1.6-1.7 times.
Nevertheless, there is no need to worry, because the negative effects of halving are short-term. Read more about this in the article.
Thanks to our 65% mining hardware uptime algorithm, Minto will continue to work calmly even in the first days after halving, while many companies using expensive electricity will be forced to stop mining due to loss of profitability.
Minto is completely ready for the halving, because it never relies solely on market patterns, but always works hard to develop its own mining infrastructure, as part of which the issue of purchasing new energy-efficient miners, including with Treasury funds, was put to a community vote in March.
As a result of the Vote#9, held on March 26-28, the decision was supported by an absolute majority of votes.
Thus, $250k ($150k from Treasury) will be allocated for the purchase of miners, and according to the results of their commissioning, in parallel with the old unprofitable hardware shutdown, Minto plans to reach a Customer Energy Efficiency (CEE) value of about 30 W/TH, which is 23% better than the current 38.9 W/TH.
Together with the drop in difficulty, this compensates for about 80% of halving-related losses, excluding the further growth of the Bitcoin exchange rate.
Here are the March numbers:
If you still have any doubts that halving is only for the best, read this article as well.
A slight drawdown after such an amazing March means a good opportunity for a new breakthrough, on the eve of which Minto will participate in the TOKEN2049 in Dubai on April 18-19. The Minto team invites you to their booth P48!
So, stay with Minto - we’ll get through the most interesting events together and reach new heights this year!
