We continue to install the mining equipment purchased as a result of the June VOTE#12. Thanks to this, Minto's hashrate reached 315 PH/s (315,000 TH/s) in August!
We had just mentioned our pre-halving absolute net profit record of $112.5k in the previous report, and this month it was already broken.
So, in August, we earned a net profit of $138.4k by mining 2.66 BTC and setting a new all-time high! This represents a growth of over 30% month-over-month and an incredible 680% year-over-year!
Growing almost 8 times in a year is pretty impressive, right?!
The project's growing hashrate not only ensures increased profitability but also contributes to the accelerated replenishment of the Treasury - our Bitcoin reserve.
As a result of August, the Treasury balance reached 3.06 BTC, having more than doubled in a single month! We are recovering from major investments like a top athlete recovering from intense training!
Bitcoin network difficulty also continued to grow, increasing by 1.6% and reaching a new all-time high (ATH) of 129.7 T. However, we are growing significantly faster, and no difficulty can scare us!
If we imagine our miners operating 24/7 (100% uptime mode), then compared to the 65% uptime mode, each mined Bitcoin would have cost 50% more (cost to mine 1 BTC: $94.4k vs $62.6k), and the net profit would have amounted to $92k, with 4.55 BTC mined.
In any other month, such a result might have seemed successful, but not this August. We are staying in the 65% uptime mode and working with maximum efficiency!
So, Bitcoin has paused its rally and is gathering strength for the next leap, while we continue to storm new profitability frontiers!
The infrastructure consistently built by Minto allows us to earn in any market conditions, and during favorable market periods, it works like a perfect profit maximization machine. We have weathered difficult periods in mining and are now reaping the rewards of our successful and proactive work.
Stay with us and rest assured: this is only the beginning!
