After updating its all-time highs, Bitcoin entered the consolidation phase. However, this did not stop us from earning $60k in net profit from a revenue of 2.78 BTC. Years of experience in mining have taught us to operate in any market conditions. Several fundamental principles have remained constant: we never stop, we continue to develop our mining infrastructure, increase our hashrate, improve energy efficiency, and keep mining regardless of the news cycle or expert forecasts.
In November, Minto's total power grew to 332 PH/s, representing a +130% increase compared to last year. As a result, by the end of the month, our BTC Treasury balance reached 5.15 BTC, and thanks to the growing power, it will increase even faster!
Meanwhile, the market began weeding out inefficient equipment. Network difficulty dropped by more than 4%, reaching 149.3 T (previously 156 T). Inefficient hashrate is exiting the mining sector—the industry is cleansing itself of outdated hardware.
During challenging months, the advantages of our intelligent approach to the mining algorithm — the 65% uptime strategy — become more evident than ever. Mining without a strategy would have led to losses comparable to the net profit we actually earned, and the production cost of one bitcoin would have exceeded $112k!
We continue to work selectively, mining bitcoins only during the hours of minimum electricity cost.
So, mining continues despite market negativity, and we are full of pre-New Year optimism.
This year has turned out exceptionally well: we have already mined over 20 BTC, doubled our hashrate, and added to our BTC Treasury. Bitcoin, like any index (e.g., S&P 500) or asset (e.g., gold), cannot keep growing every month. But we don't expect it to. We have a strategy, and we are sticking to it — we develop our mining infrastructure to mine bitcoin in any conditions and always stay in the black.
Stay with Minto to receive daily mining rewards even in the most challenging market conditions!
