On Friday, July 2nd at 4:30 am EST, there was a 27% decrease in the difficulty of Bitcoin mining, meaning miners will now yield approximately 27% more Bitcoin with no change to their equipment or hashrate. An additional 10% decrease in mining difficulty is estimated in the coming week. There is no better time to be a Bitcoin miner and to increase your mining stack to most effectively capitalize on this opportunity. Purchasing quality miners quickly and finding cheap hosting opportunities will help you strategically maximize your margins during this profit-bumping opportunity. So, when Bitcoin skyrockets to $100,000, will you be confident that you earned as much Bitcoin as possible when you could?
Global Hashrate Decline
The stringent crackdown on Bitcoin mining in China has dropped international computing power by almost half, alongside an intraday drop of almost 35%. Chinese miners have either left to other regions such as the U.S. or Kazakhstan to continue their mining operations, or have sold their equipment on the second-hand market. With this drop in mining activities, there are fewer miners competing to solve the same blocks on the blockchain. This reduced competition is leading to lower mining difficulty, meaning that the computational problems to solve on the blockchain will be simplified, taking less time to solve. This provides Bitcoin miners like you the benefit of yielding more Bitcoin.
Finding New Hosting Opportunities
While Chinese miners are working to set up operations in other countries, these regions simply don't have the immediate hosting capacity to handle this massive influx of equipment. Finding cheap hosting opportunities is paramount in order to maximize your yield from this budding opportunity.
Many miners have sought out hosting in Kazakhstan, with large international Bitcoin companies such as Canaan and Bit Mining frantically setting up shop within the country’s borders. However, it takes time to set up facilities and fully deploy displaced mining equipment, so the difficulty is expected to sustainably stay at this lower rate. With China easing out of the picture, finding suitable hosting is becoming increasingly difficult, but Wattum has you covered.
Kazakhstan as a Mining Hot Spot
Recognizing the blazing Bitcoin mining host spot in Kazakhstan early, Wattum was able to proactively strike a deal with Enegix to provide hosting for its customers. The facility offers on-site ASIC repair, video surveillance and armed security protecting the high-voltage infrastructure, as well as low air-cooling costs due to the region's ideal climate. However, the real value of mining in Kazakhstan comes from the region itself. Boasting internationally competitive energy prices which can make a huge difference in your bottom line in an energy-intensive industry like mining, these savings are also seen in labour, management, and repairs. The Kazakhstani government embraces domestic cryptocurrency mining, highlighting this through their development of a roadmap to stimulate the local crypto and blockchain economy. This added layer of security is invaluable as it protects miners from an exodus similar to that of China due to government regulations.
Start Increasing your Profits
This decrease in difficulty is a once in a lifetime opportunity to mine the greatest amount of Bitcoin since the last halving, whether you’re a seasoned miner or someone who is excited to get started. Increasing your equipment stack will let you maximize your yields while the difficulty stays low from 6 months to 2 years.
A stock to flow ratio is a reliable resource for staying up to date on Bitcoin’s market value, as well as for gaining insight into the direction the value is projected to go in. Looking at the current status of such a chart, it is evident that Bitcoin can be expected to trade at a momentous $100,000, and soon. Such developments provide a solid foundation for your next mining equipment purchase, as getting a head start will play a significant role in the amount of profits you gain from mining.
Choosing the right hosting is just as important as choosing the right equipment. Mining with Wattum in Kazakhstan allows you to benefit from low energy prices in a state-of-the-art facility. So, let's ask again: when Bitcoin skyrockets to $100,000, will you be confident that you earned as much Bitcoin as possible when you had the chance?