The surge in the price of Bitcoin witnessed over the last month has seen market interest in Bitcoin mining hitting all-time highs. This has also fuelled an explosion in the Bitcoin Minetrix presale as retail investors race to participate in this innovative Bitcoin Cloud Mining project.
A huge influx of investor funds into Bitcoin Minetrix has seen the project presale accelerate towards the $5 milestone, with the $BTCMTX presale currently standing at $4,461,518.77 raised.
This comes as retail investors rush to get their share of the tokens, ahead of a $BTCMTX presale price increase in just over four days (the end of Stage 10).
Bitcoin Minetrix Fights Centralization to Revolutionize BTC Mining
Bitcoin mining has defied expectations since the 2021 bull market by undertaking a renaissance in network growth. Bitcoin’s Hash Rate, which is a measure of the total amount of computational power directed at mining Bitcoin blocks, has surged to an all-time high of 502.4 million Total Hash Rate per second (TH/S).
Bitcoin Total Hash Rates/S
This dramatic growth has been attributed to the substantial increase in the scale of Marathon Digital and Riot Platforms’ mining operations.
Marathon, the largest Bitcoin miner in the world, reported it had an average hash rate of 14.2 EH/s (a 500% growth YoY), around 4% of the overall network hash (mining around 1153 BTC per month, or, $42.2M USD) for the third quarter of 2023.
Meanwhile Riot Platforms reported a new record hash rate of 10.9 EH/s (mining around 368 BTC per month, or, $13.3M USD), with Riot’s operations expected to grow to 20.2 EH/s by summer 2024.
But while the all-time high in Bitcoin network hash rate is healthy for Bitcoin network security, and clearly profitable for growing mining operations, it has also begun to lose sight of the original promise of Satoshi Nakamoto’s decentralization.
Bitcoin mining in 2023 is the most centralized it has ever been in its short 15-year history. By enabling retail investors to partake in Bitcoin mining rewards through an innovative cloud mining approach, it provides a platform where individual participants can engage in mining profitably, despite the high network difficulty levels.
This is achieved through the platform’s stake-to-mine feature, which is set to become operational in the near future.
The Stake-to-Mine concept is a novel idea that promises to bring bitcoin mining back into the realm of possibility for ordinary crypto aficionados, for several reasons.
Users of Bitcoin Minetrix need only an Ethereum-compatible wallet such as MetaMask to purchase and stake BTCMTX tokens, making things very simple. Staking BTCMTX earns non-tradable ERC-20 token credits that must be burned in exchange for BTC cloud mining power.
Investors who stake their $BTCMTX tokens benefit from a current 133% APY, earning additional tokens before the stake-to-mine feature goes live.
These tokens can then be used to obtain mining credits, redeemable for BTC cloud mining slots.
This feature not only supports the decentralization of the Bitcoin network but also offers a potential income stream to retail investors.
Don’t miss out on the potential of BTCMTX to outperform Bitcoin (BTC) as it stems from its innovative mining model – that could reopen the door to retail-sized participation in the behemoth mining industry.
With the presale advancing to stage 11 and the price set to increase, this is the final call for investors to capitalize on the current rate.