2023 was the year of the slow farewell to the crypto winter. The bitcoin exchange rate has almost tripled, and the difficulty has doubled. This means that the miner profitability has increased 1.5-fold, all other things being equal. Halving is ahead, but it's still 3 months away. Let’s take a look at the outgoing year 2023.
In 2023, Minto worked in the 65% mining hardware uptime mode, which made it possible to earn even in the most difficult months. During the year, 44.6 BTC in net profit were mined, which, according to the average exchange rate, amounted to $ 374,182.
Minto entered 2023 with a hashrate of 65,000 TH/s with an average energy efficiency (AEE) of 57.2 W/TH, and finished with a hashrate of 104,000 TH/s with an AEE of 50.3 W/TH.
2023 was eventful!
January immediately made it clear that the year would be interesting. Minto showed that in January, with the 30% overall market growth, the income from each staked BTCMT increased by 300%.
Getting ready to increase the hashrate, Minto presented a detailed analysis of how addition of new miners affects profitability, and unveiled plans for early 2023. To warm up, Minto held a Twitter contest with a $1,500 prize fund and 340 contestants.
In February, Minto added 5,000 TH/s and simultaneously tested the mining infrastructure in Paraguay, assessing the potential of work in Latin America. Well, geographic diversification is an issue that will never lose its relevance!
In March, Bitcoin grew by 50% (from 20 to 30k) in 20 days, and Minto launched a referral program and appeared on Instagram and Tiktok, earning more than even in the very successful January!
In April, Minto launched an updated version of the site with better navigation and a convenient dashboard for work! April turned out to be very successful in terms of profits, meanwhile Minto was preparing for a trip to Miami.
May was eventful. The Ordinals hype alone was something! Our May report turned out to be the best in 2023. Minto offered to vote for listing on CEX or adding a hashrate. The community chose +3,000 TH/s and we did it.
Also, Minto transferred a portion of our liquidity from the PancakeSwap v2 pool to the v3 pool, which is a significant improvement. This means that the commission rate became lower, at just 0.01% (compared to 0.25% before).
In June, we proposed a vote to move almost all the remaining tokens from the HECO network to BNB to minimize the risks of liquidity loss associated with the possible HECO chain shutdown. As a result of the community vote, where 100% voted in favor, we transferred liquidity from HECO and burned 2,259,258 tokens. After that, we minted the withdrawn tokens on the BNB and transferred them to the PancakeSwap liquidity pool. Our Head of US Sales, Bryan Johnson, took part in an AMA session with WhaleCoinTalk.
We have been working on the new Autofarm 2.0 smart contract all of July, and also started working on the app for iOS and Android. This month we had to turn off the referral program - but only to make it better!
In August, Minto celebrated the 2nd anniversary of BTCMT presale. In honor of this event we added 5,000 TH/s of hashrate, and held a contest on Twitter, where 30 lucky people received their awards. The project’s hashrate reached 78,000 TH/s, while its average energy efficiency (AAE) is 54.4 W/TH!
The main September's event for both Minto and the entire crypto industry was the annual WDMS Global summit, organized by Bitmain, the world's largest manufacturer of mining hardware.
A lot of prizes were raffled off among the huge number of visitors to the Minto booth. The Minto team presented its own advanced line of services and offered exclusive conditions on all of the company's products at the booth, while many speakers addressed the audience in the conference hall. Our colleague, Bryan, Head of US sales, reported on how Bitcoin mining capex and opex can be optimized even in a bearish market using the latest technologies and algorithms.
At the same time, throughout September, Minto continued to work on a new version of the Autofarm smart contract in order to put the question of its initialization to a vote in October.
Supercharged by our participation in the WDMS Global summit in Hong Kong, in early October the Minto team finished its work on a new Autofarm (aka Auto-Staking) smart contract version. It offers users a better way to work with any cryptocurrency/BTCMT pair on any platforms (and not just BTCMT/USDT on PancakeSwap) with commissions reduced by 85-95%.
Also, as an additional bonus, Minto offered a 20% higher APY due to the additional BTCMT distribution in the first 15 days after switching to Autofarm v2.
According to the results of the vote held on October 8-10, the Minto community made an almost unanimous decision to switch the project to the new advanced Autofarm v2 smart contract. Thus, starting on November 1, BTC mining rewards are no longer being accrued in the previous version of the Autofarm smart contract (v1).
In November, interest in Ordinals helps miners earn more again! As a result, Minto’s Autofarm profitability soared to 50% (APR=34%, APY=49%). Coupled with the bitcoin exchange rate growth, Minto's net profit in November was more than 2-3 times higher than in the previous months.
In addition, in November we announced a hashrate increase of 5,000 TH/s starting on December 1. We decided to dive into the winter with a total hashrate of 83,000 TH/s and an average energy efficiency (AEE) of 53.5 W/TH.
And finally, in December, Minto held vote#7 in order to fully prepare for possibly the main event of 2024 - the halving on the bitcoin network. According to voting results, there is a lot of work to be done, and there is nothing better than doing it!
Below we present to your attention a table with the results for the entire 2023:
Minto is full of energy, as always, and the cryptocurrency market growth is gaining momentum!
The Minto team wishes everyone a Merry Christmas and a happy New Year, in which we all have to earn even more!
Stay with Minto in 100% mining hardware uptime mode!
Update: according to the VOTE#7, on December 28, Minto added 21,000 TH/s.
Thus, the total project hashrate is 104,000 TH/s (104 PH/s) with an average energy efficiency (AEE) of 50.3 W/TH and a customer energy efficiency (CEE) of 38.9 W/TH.