Monday Mining Metrics: Blockware Labor Day Discount
Bitcoin Mining Update - 9/3/2024
Bitcoin (still) at $58k
Months of sideways price action are starting to feel like years. Until recently 2024 had no shortage of meaningful events and narratives: red-hot price action to start the year, the quadrennial halving in April, and the Bitcoin conference in July. Now it seems as if sentiment is starting to cool off, and the reality of six months of uneventful price action is starting to set in.
Miners Profit During Sideways Markets
This is a good time to reiterate one of the underappreciated benefits of Bitcoin mining: mining nets positive returns during sideways markets. While spot Bitcoin holders have seen no notable changes in their portfolio during this sideways regime, Bitcoin miners continue to produce BTC for less in electricity than the market price, netting consistently positive returns.
Hash Ribbons
This summer we saw a hash ribbon, a metric that indicates that miners are capitulating in the aggregate. We’ve seen hashrate recovery well since the end of the capitulation and we’re now on track for a 2nd consecutive positive difficulty adjustment. Miners that survived the halving are deploying additional capital, upgrading their ASICs, and getting prepared for the bull market.
Blockware Labor Day Special
The 3-day weekend may be over, but the party is just getting started. All ASICs purchased before the end of this week will receive a significant discount on their hosting rate:
- $0.070/kWh for machines at Iowa (IA-ECG)
- $0.072/kWh for machines at Texas (TX-WTD)
- Special Pricing on S21 Pro's Purchased OTC
The table below compares the estimated monthly economics of Bitcoin mining rigs when mining with the discounted hosting rate vs mining with the typical hosting rate:
S21: $63 ➡️ $84
M66s: $57 ➡️ 95
S19 XP: $12 ➡️ $30
It should be noted that the discounted hosting rate is applied for the entire duration of your contract for that machine. Lock in the lower rate now so you can position yourself for the coming bull market.
Blockware Direct ASIC Pricing with Hosting
We have 100s of ASICs available for purchase right now on the Blockware Marketplace! Machines are sold turnkey which means you’ll be hashing as soon as your BTC payment is confirmed on-chain! Click here to start mining today.
For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here. Buying machines in bulk gives you access to better per-unit pricing than buying individual machines!
Contact sales@blockwaresolutions.com or reach out here.
All content is for informational purposes only. This Blockware Intelligence Newsletter is of general nature and does consider or address any individual circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal, business, financial or regulatory advice. You should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.