Summer continues, July was eventful, and here’s our next monthly report to prove it:
Summary
The Minto project mined 3.4948 BTC in July, which amounted to $103,999, spending $76,489 on electricity.
Thus, in July, Minto earned and distributed $27,510 worth of Bitcoins among users.
July results surpassed those of June in dollar terms, since the Bitcoin exchange rate rose in July. At the same time, in July, Bitcoin difficulty* increased, so the result in BTC was lower than in June. May results remain unsurpassed, as we are faced with the Ordinals phenomenon, due to which miner commissions exceeded the block reward on certain days and brought surplus profits. We have analyzed this situation in detail in the article.
* 1. What Is The Energy Efficiency, Difficulty and Profitability Of Bitcoin Mining?
2. Detailed Analysis of How Addition of New Miners Affects Minto Profitability
Estimated results of 100% mining hardware uptime
The algorithm of 65% mining hardware uptime** continues to ensure the project’s high profitability. Estimated at 100% uptime, the electricity cost in July would have amounted to $161,440, which, with a hypothetically mined 5,4241 BTC, would have led to a negative financial result - a loss of $8,706. Thus, the transition to 100% uptime is still premature.
** How Does the 65% Mining Hardware Uptime Technology Work?
The average Multiplier value in July was about 2.7, the Annual Percentage Rate (APR) fluctuated around the 15% level, and 16-17% for Autofarming (APY) . The data is published in real time in the Stats section of the Dashboard.
July’s events
Updates:
— Minto hit the 100 mined Bitcoins mark!
— Minto continues to work on the Autofarming 2.0 smart contract on the BSC network and will soon invite you to vote for it
— The development of Minto.finance mobile applications for Android and iOS operating systems continues
— The Referral program is closing down for renovations; the test stage is completed. We took all the comments into account and realized that we still have some things to work on. You’ll get it back soon enough - better than ever!
Plans:
— Autofarming 2.0 is coming soon
— The Minto project will be celebrating its 2nd anniversary soon. We are preparing a little surprise for you…