Contents
This is our 56th post in the Infinity Hash Weekly Update series for Aug 26, 2024.
This week we added no new miners. Mining profits for Infinity Hash went up a bit and share price for IHS going up together with Bitcoin.
You can always get a full overview of past charts and numbers on the Weekly Updates page.
Project Updates
Infinity Hash in Numbers
These are the numbers for week 34, 2024, from 2024-08-19 to 2024-08-25. Note: This week marks the first week we generated over 0.5 BTC in rewards!
| Metric | Current data | Change |
|---|---|---|
| Total Miners | 768 Miners | + 0 Miners |
| Total Hashrate | 97.89 PH/s | – 0.88 PH/s |
| Toplam Hisse | 821,501 Shares | + 10,914 Shares |
| Hisse Fiyatı | $ 2.46 | + 20.59 % |
| Rewards generated | 0.50057370 BTC | + 5.18 % |
| Reinvested | 4550 USDT | + 986 USDT |
| Electricity paid | 21254 USDT | – 20 USDT |
Dashboard and Feature Updates
We are pushing and updating a lot about the project in the background right now. Here is an overview of our current development roadmap and important updates.
New Auto-Compounding integration
We moved the auto compounding feature into the reward pools, which is easier for new users and removes the previous auto compounding prediction chart, which lead to more confusion than it provided value to users. Below is a screenshot where you can find the new auto compounding entry.
There will be an update in the next days, which aligns the auto compound percentages with the other reward pools.
New Dashboard main page
Over the last months, we did a few community questionnaires and looked at a lot of feedback to make the dashboard easier to understand and easier to use for new users, as well as providing more relevant data for existing users. Here is a preview of the desktop and mobile version:
Features that will be removed from the main page will mostly be added to the statistics page, so existing users still get all the data they want and need.
Other development efforts and roadmap
Here is a list of development efforts – apart from the main page – that are being finished right now and will go online in the near future:
- A fix for the smaller Reward Pool altcoins (missing balance displays will be fixed too)
- A new version of the affiliate page including more down-line data and tools
- The new statistics page including important CSV-download integration for cointracking
- xIHS deposits to the dashboard
All other development efforts like an xIHS DeFi dashboard, potential liquidity farms and further UI improvements for the dashboard (slowly working towards an app) will be continued right after the 4 points above are finished and online.
Miner and Farm Updates
Equipment cleaning
This week, we continued our cleanup of Antminer S19s series miners. At the moment, half of the equipment in one of the containers is still waiting for its turn. We also performed regular cleaning of one container from the inside. This should be done at least once a month to ensure stable operation of the equipment and to avoid overheating.
Equipment monitoring
Every morning at the Infinity Hash farm starts with equipment monitoring to detect any malfunctions in time. After one such check, it was discovered that one of the miners was not working. It turned out to be a Whatsminer M50. Diagnostics revealed that the problem was with the power supply, which was immediately replaced with a new one. The miner was put back into operation. The power supply will be sent to our service workshop for diagnosis.
Once the equipment has been cleaned, each miner is checked and configured. During one of these checks, it was discovered that one of the fans on the Antminer S19 had failed. The fan was replaced, and the miner went to mine Bitcoin.
Announcements
Community Vote #9 is Online
Our ninth community vote is online in the dashboard with the following proposal:
#9 Should we focus on buying Whatsminer M60 ASICS?
Over the last months we pushed the hash rate per Infinity Hash Share to over 120 GH/s using different miner types but mostly focusing on Whatsminer M50 models. Our current efficiency for the project is at about 28.5 W/TH. To start preparing for future mining difficulty increases and competition, our team’s advice is to focus on buying the more efficient Whatsminer M60 models at about 19-20 W/TH efficiency. This will drive up mining rewards for everyone involved directly and by a lot the more miners are added in the new flare gas location.
- Yes: Focus on buying more M60 miners.
- No: Keep buying a mix as we do now.
The community vote is available in the dashboard under the “Voting” page. More details and discussions about this vote are happening in our Telegram group. Feel free to join and ask any question you might have or participate in the discussion.
Community Vote #8 is closed
Our eighth community vote is closed with the community voting in favor of increasing the mininum IHS price to $2. Here are the results:
- Yes: Increase the minimum IHS price to $2: 90.03%
- No: Keep the minimum IHS price at $1: 9.97%
What will happen next?
We will update the share price calculation formula to include a $2 minimum instead of the current $1 minimum. This will be announced on all socials. Because the share price is over $2 right now, there are no immediate consequences for anyone buying IHS via the dashboard.
Links and Outlook
Infinity Hash Articles and Socials
Antminer S19k Pro – Why did the hash boards burn out?
This week we took a more detailed look at common problems of the Antminer S19k Pro ASIC, leading to burned out hashboards and loose heat sinks:
New Infinity Hash makaleler
We started writing more articles, going into detail about different topics of Bitcoin mining, the role electricity consumption plays and how xIHS and IHS can be compared to bigger, publicly listed mining companies. Here is a list of the articles of the last weeks:
- xIHS Total Supply, Avoiding Dilution
- Infinity Hash: Innovating Passive Income with Bitcoin Mining
- Infinity Hash and the xIHS Token: Tokenizing Bitcoin Mining
- Infinity Hash: A Superior Alternative to Conventional Mining Investments
- Reducing Electricity Costs, the Key to Maximizing Bitcoin Mining Profitability
- Unlocking Bitcoin Mining with DeFi: The Power of xIHS
Weather conditions
The current weather conditions at the mining farm are: Passing clouds. Cool. Current temperatures at 10.03°C / 50.06°F provide good cooling conditions, with the weather forecast showing an upward trend in temperatures. This should result in stable profits.
Şeffaflık
Here are our current transparency links:
- ViaBTC Pool: Get a complete and transparent overview of the Infinity Hash mining pool.
- ViaBTC Workers: A detailed live list of all miners in the Infinity Hash pool, including their current status
- Reinvest Wallet: The reinvest wallet where 50% of all profits are sent to buy new miners for the community. You can see incoming reinvest transactions under “Transfers” in the form of incoming USDT transactions. The wallet address is:
TMaymjtdjGkS7n2uHbGQX2emznyD6pZVx4 - Electricity Wallet: The electricity wallet is used to pay all electricity costs for the Infinity Hash Pool. As with the Reinvest wallet, you will find all incoming USDT transactions under “Transfers”. The wallet address is:
TBy6NqQRUUQetSA8yeNgDBs6mh43hmcSm5
As always, it has been a pleasure to provide you with the latest information on the Infinity Hash project. We wish our community a great week and happy mining together!
