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Minto Monthly Report Jan'24

February 7, 2024

We started 2024 in a great mood, because we improved the reward distribution mechanics, increased the Total hashrate to 104,000 TH/s, concentrated the most energy-efficient hardware (38.9 W/TH) in the Active Customers Hashrate (ACH) pool, created the Treasury and presented Joint Treasury management mechanics to the Minto community.

In addition, Bitcoin itself is relatively positive, because on January 10, 2024, the SEC approved applications from 11 major investment companies for Bitcoin spot exchange-traded funds (ETFs). This event adds significant positivity in the long term, opening the door for the flow of capital from institutional investors to Bitcoin from other industries.

The Ordinals factor also continued to have a positive impact on mining rewards in January. We even thought about the possibility of switching to the 100% uptime mining hardware mode and prepared the respective Vote#8 in early February.

Anyway, the January results are very optimistic:

The Minto January results with the 65% mining hardware uptime mode

Minto showed $72,403 net profit, 1.5% month-on-month growth and almost 180% year-on-year growth!

Of the net profit, $31,878 was distributed as daily mining rewards and $40,525 was sent to the Treasury. The decision on the distribution of the latter is also not far off and will soon be put to a vote.

Hypothetical results at 100% uptime are as follows:

The Minto January results with the hypothetical 100% mining hardware uptime mode

In February, the Minto community will decide on the need to switch to 100% uptime, vote for the distribution of the Treasury funds and updates to the Whitepaper. We are looking forward to a month as exciting as January.

So, the year has started off great, we are full of energy and intend to keep moving forward!

Stay with Minto! Bitcoin halving and many more interesting things are ahead!

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