Contents
This is our third post in the Infinity Hash Weekly Update series for August 21, 2023.
This week we have big news and improvements for payment options and our dashboard, as well as a few announcements for next week and opportunities to meet with the community in October.
You can always get a full overview of past charts and numbers on the Weekly Updates page.
Project Updates
Infinity Hash in Numbers
This week, we saw a slight decrease in most metrics due to a sharp drop in the price of Bitcoin. Despite the dip, we were able to add a new miner and are happy to see that the generated rewards and reinvest amounts only decreased slightly. These are the numbers for week 33, 2023 from 2023-08-14 to 2023-08-20.
| Metric | Current data | Change |
|---|---|---|
| Total Miners | 42 Miners | + 1 Miners |
| Total Hashrate | 5.16 PH/s | + 0.16 PH/s |
| Total Shares | 103,222 Shares | + 709 Shares |
| Share Price | $ 0.80 | – 8.04 % |
| Rewards generated | 0.0797 BTC | – 0.49 % |
| Reinvested | 484 USDT | – 28 USDT |
| Electricity paid | 1291 USDT | – 32 USDT |
Dashboard and Feature Updates
This week brought some long-awaited upgrades to the dashboard and a lot of background work.
a) Full BTCPay Server integration
We are happy to announce that we are now running our own BTCPay Server instance. This will provide the following benefits to the Infinity Hash community:
- Less dependence on third party payment providers
- Much cheaper (no fees except transaction fees)
- No KYC required (and no future KYC from payment providers)
- No geo-blocking – we can now accept deposits from US-based customers again. Before this update, they had to use a VPN because CoinPayments blocks US residents from using their service
- Much better privacy – no additional third party services that could collect information like IP addresses, browser fingerprints, wallet addresses, etc. just because a user wants to make a deposit.
For now, we have started accepting Bitcoin deposits and will be expanding to additional options soon. Most likely, our next added payment option through BTCPay server will be Bitcoin Lightning, followed by Litecoin and DOGE.
Miner and Farm Updates
We added 1 new miner this week which increased the community pool hash rate by 116 TH (as a side note: We started naming new Worker IDs by their miner number in the project and with “ih” for Infinity Hash. This way we can make it easier for users to verify which miner was added at which point in time and how long it has been online etc.).
| Model | Hashrate | Source | Workder ID |
|---|---|---|---|
| Whatsminer M50 | 116 TH | Share sale | ih42 |
There are several miners on the way that have been installed by the time this weekly update is published, but did not fit into the August 20th timeframe. We will provide detailed information about them in the next post.
As always with Infinity Hash, you can view the full worker list online for transparency: Infinity Hash worker list. The worker IDs in the table correspond to the worker IDs on ViaBTC.
New container
On August 18th a new mining container for Infinity Hash went online. Here are some pictures from the construction, from the outside and during operation with Whatsminer M50 from the inside:
The new container has a brand-new transformer and is optimized for air cooling. It will increase the long-term profitability of the project and was urgently needed to keep up with demand. Barring any delays, we will be able to install several new containers at the new site over the next few weeks.
Maintenance and Downtimes
This week we only had one incident where 6 Infinity Hash Miners went offline for about 6 hours due to ongoing construction work on August 14th. The results in a total weekly uptime of 98.52 % .
Announcements
a) 100 days of successful operation
On August 18th we have reached our 100th daily Bitcoin Infinity Hash reward distribution to the community.
This is a milestone for the project. We would like to thank our community for 100 days of trust and support!
b) Micro swaps
We are finally almost done with the integration of micro swaps from BTC to USDT for all users. This will allow small swaps with a minimum amount of a few sats. The technical solution is to pool many small swaps and then execute them together. This way, we can offer micro swaps with an average execution time of 5 minutes and a maximum execution time of 10 minutes. We are currently in the final testing phase and will be able to activate the swaps for all users later this week.
c) Bitcoin Amsterdam 2023
We will be at Bitcoin Amsterdam this year. The conference takes place from October 12th to 13th. You will recognize us by our MEATEC and Infinity Hash shirts. We are looking forward to meeting some of you and will be available for questions and discussions :).
News, Links and Outlook
Infinity Hash Articles and Socials
We have published a short compilation of clips showing how the regular cleaning of miners from the Infinity Hash Pool works. We use every possible downtime to maintain as many miners as possible in order to maximize overall uptime.
If you want to get daily insights and updates about the project, feel free to follow us on Twitter / X.
Transparency:
- 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
Outlook and Mining Forecast
With several new miners being added in the week starting August 21st, we expect to see a nice increase in hash rate and total pool rewards. As soon as the currently announced updates are online, we will be able to announce our next steps, which will be related to usability and functional improvements for the dashboard. There will be live updates and sneak previews on social media.
Weather conditions
We expect a dry and cloudy week with no rain in the forecast and an average temperature of 12.7 °C / 54.9 °F at the mine. These are much better conditions than last week and should result in a noticeable increase in performance and profitability.
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!
