In June, we almost repeated the record May results showing a net profit of $94k (-4% MoM). Due to a decrease in the Bitcoin network difficulty by almost 8% (from 127T to 117T), the cost of mining 1 BTC dropped to $56k (-5.6% MoM). The weighted average BTC exchange rate for June reached $105.5k (+2.6% MoM), and ATH is targeting $140k ever more closely and is waiting for a corresponding impulse.
In June, we conducted Vote#12 on the purchase of new 2.5 BTC miners allocated from the Treasury. The Minto community made a positive decision with 820k votes without a single vote against, and we immediately launched the process of purchasing mining hardware with an estimated capacity of 120 PH/s and an average energy efficiency (AEE) of 29 W/TH.
Thus, Treasury balance decreased by just over 60% (from 3.1 to 1.15 BTC). From the previous experience, we know how quickly Minto restores its reserves. Two months will be enough for us to fully compensate for these costs, because contributions to the Treasury have increased by almost 1000% year on year!
The drastic reduction in difficulty not only helps us quickly achieve better revenue results, but also indirectly indicates Bitcoin’s upcoming upward surge . According to the harsh market laws, volumetric capitulations occur - as a rule, precisely on the eve of strong movements.
Minto never capitulates, because it responsibly increases its energy-efficient hashrate and strategic BTC reserve. We do not play games, do not place bets, do not expect random winnings, but continue to improve the project’s mining infrastructure. Our statistics are highly stable and predictable.
We continue to operate in the 65% hardware uptime mode, achieving strong results through intelligent control of Bitcoin mining profitability.
Hypothetical results at 100% uptime - in a mode where miners work 24/7 regardless of intraday fluctuations in electricity prices - remain weak. With 1.5 times more revenue compared to 65% uptime ($300k vs $200k), mining costs would be 2.5 times higher ($262k vs $106k) and would eat up more than half of the profit. The net profit with this approach would be only $38.5k (vs $94k at 65%) with the cost of mining 1 BTC of $92k (vs $56k at 65%).
We continue mining bitcoins in the 65% uptime mode!
So, Minto is operating at highs, almost repeating the record May result and producing 0.9 BTC of net profit.
We are also working to expand BTC mining possibilities for our users. The Minto team is experimenting with different models of risk control and profitability. Bitcoin mining is moving further away from a simple user, but Minto does not stop looking for ways to bring the parties closer, remove barriers and artificial restrictions. The results will follow!
Stay with us and earn bitcoins every day without delving into technical details, because Minto makes Bitcoin mining exceptionally accessible to everyone!
