In April, bitcoin grew by 15%, moving into the $95k zone, but the bitcoin network difficulty also increased by almost 10%, reaching a record 123.2T. As a result, we repeated our March dollar revenue, earning about $125k, but our net profit dropped slightly to $43.8k, as the cost of mining one bitcoin rose to $56k/BTC due to increasing difficulty.
On April 26, Minto hashrate reached 190,000 TH/s (190 PH/s).
According to the results of Vote#10, Minto community decided to spend Treasury funds on the purchase of miners with a slight decrease in the project’s energy efficiency, but with a minimum payback period. Thus, in April, the first equipment batch that arrived at our data center was finally connected, configured and put into operation..
As a result, Minto's average energy efficiency (AEE) is now 31 W/TH (previously 30 W/TH), and customer energy efficiency (CEE) is 29 W/TH (previously 28.5 W/TH). This will reduce mining profitability by only 1.75%, but we will now be accumulating reserves 1.4 times faster, which means that the community's project development opportunities are significantly expanding!
In the Proposals section, you can offer your project development idea with only 10,000 BTCMT, and if the community finds it interesting, contribute to our common success story, make our project even more efficient and profitable!
In response to the community wishes, at the end of April we held Vote#11, where 90% of the votes agreed to send 1.5 BTC from Treasury to support $BTCMT liquidity.
These funds will be sent to exchanges in order to reduce token volatility in unstable market conditions, used to conduct buybacks with strong fluctuations and eventually allow to achieve a generally higher and predictable project profitability, since stability is always converted into value, and hence into the (token) price.
In early May, we already withdrew these funds from the Treasury in one transaction, and we will now add liquidity within 60 days with minimal impact on the market.
In April, net profit in the hypothetical 100% uptime mode went into negative for the first time in a long time. This is due to the sharp increase in bitcoin network difficulty along with insufficient growth of its exchange rate. We continue to operate in 65% uptime mode, with increased profitability regardless of market negativity.
So, the pessimism of early 2025, which arose as a reaction to the excessive optimism of late 2024, has exhausted itself. We are returning to the usual state of things, where the promise and excitement of bitcoin is a given.
We’ve got more miners, our token is becoming more liquid, our expectations from this mining cycle keep strengthening us in our belief that we are moving in the right direction and the shortest way!
Stay tuned and earn bitcoins easily, as if all our mining farms are right inside your phone!
