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Minto Monthly Report May'24

June 5, 2024

In May, we finally entered a new post-halving reality, where every bitcoin is twice as difficult to earn as before. Minto's profitability returned to the levels of last October, despite the fact that the project's revenue has almost halved over these six months - to 1.77 BTC in May vs 3.14 BTC last October, and the break-even level of miners simultaneously collapsed more than 3-fold!

Breakeven mining level and Minto energy efficiency

This means that we have become twice as efficient in a very short period of time, and this is nowhere near the limit, because thanks to the decision made at Vote#9 to purchase new energy-efficient miners, we will very soon bring the energy efficiency of the Active Customer Hashrate to 30-32 W/TH (Customer Energy Efficiency, CEE), and the Average Energy Efficiency (AEE) to 32-34 W/TH, which will have a huge impact on profitability and Treasury contents!

In May, we have already improved AEE from 50.3 W/TH to 49.2 W/TH, and CEE - from 38.9 W/TH to 34.2 W/TH.

New miners are on the way and continue to arrive at data centers. 

We will systematically put them into operation, improving the project’s energy efficiency and, as a result, its profitability!

May key highlights 65% mining harware uptime mode

The 1.77 BTC mined in May turned out to be one of the hardest, but we are standing on a strong foundation: as part of the decision made at Vote#7 to divide the project hashrate into energy-efficient hashrate (ACH) and all other (to fill the Treasury), even in the most difficult month we maintained profitability for $BTCMT holders at APR 11% and APY 21%.

May statistics

⛏ Minto retains a significant margin of safety even in such tough conditions. Thanks to the above actions and the use of a smart algorithm of 65% mining hardware uptime, the cost of bitcoin mining in Minto increased not by 2, but only 1.7 times - to $56,000/BTC, whereas in a hypothetical 100% uptime mode it could grow to $92,300/BTC, which would lead to a loss of profitability.

Minto key highlights 100% uptime

⚙️ Minto continues to work on the new Dashboard’s functionality, created in partnership with Fireblocks. We are glad to receive deeply positive feedback from you and intend to achieve all our goals!

So, the first full month after halving, which threw us back to six months ago, is over. There are 4 whole years of a new reality ahead, in which we will regain our lost positions and reach new heights, especially since the Bitcoin network difficulty has decreased by only 4%, which means that all miners are in full strength and aimed exclusively upwards!

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