Bitcoin mining farms are starting to prepare for the 2024 scheduled Bitcoin block halving event by pouring massive sums of investments into beefing up their operations.
While top analysts like Peter Brandt believe the Bitcoin block halving is a lot of excitement over nothing, heavyweight mining farms seem to have other thoughts as they look to expand.
Meanwhile, a newly emerging decentralized cloud mining platform is being hailed as the ultimate solution to mining crypto in 2024 ahead of the block halving.
Bitcoin Minetrix ($BTCMTX) has raised an impressive $6.45 million in its presale as investors rush to the stake-to-mine ecosystem for 10x returns.
What you'll learn 👉
Bitcoin Mining Farms Beef Up Operations Ahead of Next Block Halving
The Bitcoin block halving is currently estimated to occur toward the end of April 2024. The mentioned block halving event will reduce the Bitcoin block reward to 3.125 BTC, reducing emissions and rewards for miners.
As a result, it seems that mining operations are looking to get ahead of the Bitcoin block halving by expanding their operations.
For example, Marathon Digital Holdings is preparing for the next block halving by acquiring two new mining sites to launch data centers in Texas and Nebraska.
It’s reported that the deal will add 390 megawatts of additional mining capacity with an aim to reduce the cost per coin mined by 30%.
The total cost for the upgrade is expected to be in the region of $178 million, according to press releases from the company.
The move shows that Bitcoin mining companies are still confident about their profitability following the 50% reduction in $BTC rewards, signaling a bright future for crypto mining ahead.
What Alternatives Are Providing Better Mining Solutions?
While closed, centralized mining companies beef up operations, the cloud-based Bitcoin mining solutions are also starting to see an exciting buzz as they prepare for the block halving.
In particular, Bitcoin Minetrix ($BTCMTX) is emerging as the best mining solution ahead of the next Bitcoin block halving, providing an avenue to decentralized cloud-based mining.
The project has raised a staggering $6.45 million in fundraising, demonstrating that investors are hailing this a disruptive force in the cloud mining sector.
Bitcoin Minetrix Soars With $6.45 Million Raised As Investors Rush to Stake-to-Mine
Bitcoin Minetrix continues to grow in momentum after crossing the $6.45 million milestone, demonstrating the increasing popularity behind the decentralized cloud-based mining platform.
Bitcoin Minetrix is giving birth to a novel stake-to-mine concept that helps everyday users mine Bitcoin without having to buy expensive hardware.
The platform seeks to revolutionize the cloud mining sector by removing centralized entities and third-party risks from the industry.
Cloud mining isn’t a new concept in the crypto space. It allows normal users to gain access to cloud mining centers without having to buy or maintain equipment. Instead, they simply rent the computational capacity from centralized mining centers.
However, as every cloud mining company is centralized, there are prevalent scams in the industry.
For example, miners are locked into long-term contracts and left short on their expected earnings.
Bitcoin Minetrix intends to change this through tokenization.
How Does Bitcoin Minetrix Bring Decentralization Into Cloud Mining?
To get started mining on Bitcoin Minetrix, users must buy and stake $BTCMTX tokens to earn Mining Credits. These Mining Credits can be burnt in exchange for mining time on the Bitcoin Minetrix platform.
The tokenization of the entire process brings transparency to the industry and ensures users control their funds every step of the way.
In addition, as audited smart contracts automatically manage user allocation, miners are sure they’re not being short-changed on their expected mining earnings.
Furthermore, the earnings are doubled on the platform as it combines staking and mining.
Alongside the mining rewards, participants earn from staking. Those currently staking earn an impressive 99% APY on their $BTCMTX.
Overall, Bitcoin Minetrix will be the future of cloud-based mining, allowing everybody to get started without worrying about being scammed.
With the presale approaching the $6.5 million milestone, investors are clearly expecting this to become a leader in the space.
$BTCMTX can currently be purchased for $0.0125 in the presale.
However, those getting positioned earlier benefit the most as the presale uses a rising pricing strategy.
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