Bitcoin to $66,000 (Uptober)
After MicroStrategy stole the show last week, spot BTC is back in the limelight as it is up 5% on the day, and over 10% since last Thursday. This has pushed hashprice back into manageable territory ($0.048/Th/day), despite a 4% difficulty increase last week.
A new hash ribbon has formed due to an overall slowdown in network hashrate/difficulty growth over the past couple months. If you’re unfamiliar with hash ribbons, these occur when the 30-day moving average of hashrate crosses below the 60-day moving average. This signals a capitulation of the least-efficient Bitcoin miners on the network.
Hash Ribbons frequently mark local bottoms due to the increase in sell-pressure from struggling miners attempting to stay in business.
The pattern forming here is similar to that of 2020 — two miner capitulations within six months post-halving. In 2020 this was followed by an exponential rise in the BTC price – note the hash ribbon of November 2020 circled below.
Blockware Deal of the Week:
For a limited time, Blockware is offering a bundled package of 15-ASICs:
5x Antminer S21 (200T)
5x Antminer S21 (188T)
5x Antminer S19K Pro (120T0
The table below shows the economics at various BTC prices. This diversified bundle of machines (geographically distributed across two different hosting facilities) produces a monthly profit of ~$1,222 worth of BTC. If BTC hits $200,000 this cycle – all of a sudden — this bundle will provide a monthly return of almost $4,000.
For more information on this limited-time offer, contact sales@blockwaresolutions.com
We are now taking pre-orders for the S21 XP & S21 XP Immersion
The table below provides a full pricing list for all the ASICs available through Blockware at this time. For those seeking to purchase ASICs in bulk (with or without hosting), contact sales@blockwaresolutions.com or reach out here.
If you’re looking to purchase individual machines, you can use our self-service marketplace to pay with BTC and start mining immediately!
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.