In October, as part of VOTE#10, we proposed to the Minto community to significantly increase the project hashrate using the Treasury and the funds received from the sale of $BTCMT. The entire amount collected was to be sent for the purchase of a batch of miners with an average energy efficiency (AEE) of 30-36 W/TH at extremely attractive prices of about $1-2 per 1 TH/s.
We expect this equipment to pay off in under 1 year, and to bring in net profit in another 2-3 years before the end of the current halving cycle. At the same time, the project AEE will slightly increase to 33 W/TH, and the CEE will remain unchanged at 28.5 W/TH.
As a result of the vote, a unanimous decision was made to purchase miners, with more than 830,000 votes in favor. We have already launched the process of purchasing and delivering equipment to our data centers!
Meanwhile, on the eve of the American elections and related expectations of crypto industry's fairer regulation, Bitcoin leaped back up above $70k again, and Minto showed a net profit increase of more than 30% month-on-month from $31k to $40.7k despite a slight decrease in revenue from 1.8 BTC to 1.7 BTC due to the relentless growth of difficulty.
Even the indicators of the hypothetical 100% uptime mode came in positive, however, still remaining 3 times worse than with 65% uptime ($13.4k vs $40.7k in net profit):
In the October statistics, it is worth paying attention to a TVL influx, the Treasury balance after the payment for miners was made, as well as our advanced energy efficiency parameters, thanks to which we can buy mining hardware cheaply from less efficient companies, and earn even more using the smart 65% uptime algorithm!
Today we already know how the vote in the United States ended and see that the crypto market reacted positively to the results. We are glad to realize that thanks to the Minto community, we can make vital decisions in a timely manner, preparing the project for both negative and positive events. It seems that only recently we established a Treasury to offset halving, and today we are already using it to the fullest to multiply the hashrate in a favorable market situation!
So, Minto’s hashrate growth will not be long in coming, so stay tuned! We’ll go through all the stages of institutional adoption of Bitcoin as a strategic reserve asset together and earn the most from future market surges!
