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This is our 62nd post in the Infinity Hash Weekly Update series for Oct 7, 2024.
This week we added new miners, finished most of the back-end work for the statistics page, and started paying out Fractal Bitcoin rewards from merged mining. Apart from this, we also introduced IHS burning. Mining profits for Infinity Hash went up with no downtime, and the share price for IHS going up even though Bitcoin went down.
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 40, 2024, from 2024-09-30 to 2024-10-06.
| Metric | Current data | Change |
|---|---|---|
| Total Miners | 778 Miners | + 0 Miners |
| Total Hashrate | 98.96 PH/s | + 0.11 PH/s |
| Total Shares | 895,044 Shares | + 12,270 Shares |
| Share Price | $ 3.40 | + 65.85 % |
| Rewards generated | 0.47971959 BTC | + 2.17 % |
| Reinvested | 4357 USDT | – 44 USDT |
| Electricity paid | 21269 USDT | – 121 USDT |
Miner and Farm Updates
Repair of damaged fuses
We repaired some damaged fuses and cleaned up cable management in one of the older containers with no smart PDUs. Additionally, we added some extra fuses for older PDUs that don’t have them built in by default.
Regular cleaning runs
As almost every week, we did some maintenance cleaning of miners and containers. Regular cleaning ensures smooth operation. Due to the modular design of our containers, using smart PDUs, we are able to clean miners individually with minimal downtime for the project.
Welding more protective roofs
To better protect the mining equipment against rain and snow, we built more protective roofs out of sheet metal. The small canopies are attached to the top edge of the long side of the containers.
High-voltage systems diagnosis
We diagnosed some smaller problems and did routine tests on our high-voltage equipment to prepare for switching most miners back to high-power mode, now that temperatures are dropping. High power mode will allow us to increase hash rate and rewards by about 10% in the winter.
Announcements
Community vote #10 is closed
Our tenth community vote is closed, with the community voting in favor of including Fractal Bitcoin income in total mining rewards. Here are the results:
- Yes: Automatically include Fractal Bitcoin income in total daily BTC rewards: 88.54%
- No: Collect Fractal Bitcoin income as USDT in the reinvest wallet: 11.46%
How Fractal Bitcoin rewards are booked now and in the future
The first FB reward bump has been included in the mining rewards for October 7, 2024 (which led to a slight IHS price increase). We’ll have to keep adding FB rewards manually until ViaBTC supports auto-conversion to BTC, and we will most likely do so on a weekly basis.
#1 share supply burn
We just burned 13,276 IHS from buybacks worth over 45k USD on the current and worth over 50k USD based on the average purchase price on October 7th, 2024. This will increase rewards. We are looking forward to introducing more burns in the future.
New miners coming
As you might have noticed, we focused on finishing infrastructure the last 2–3 weeks and postponed ordering new miners apart from one batch. This allowed us to do some timing to get optimal purchasing prices. Here is a quick overview of miner purchases:
- Already ordered a batch of 15 Whatsminer M50 from share sales. ETA next Monday.
- A New Whatsminer M60 batch from reinvest will be on the way soon.
- The next batch after that will be based on Bitcoin’s price movement in the next 1–2 weeks and on potential big investments to get the best ROI for the project. We’ll keep you updated!
New Facebook page
We have a new Facebook page in case you prefer to get your updates there: facebook.com
Links and Outlook
Transparency Report #13 – September 2024
Our latest transparency report is online on the transparency reports page. In September, there were some minor repairs, which are included in detail as always.
New farm walk-through video
We just published our latest farm walk-through video of location 1 (Central Asia) for October.
Latest articles of last week
Here are our latest articles, including the fifth edition of the Mining Industry Recap series:
Mining Industry Recap, Episode 5
Increasing outreach to meme coin communities
Please help us pump this post a bit by liking and re-tweeting. SPX is currently exploding and we might be able to do a nice long-term collaboration and memes:
Weather conditions
The current weather conditions at the mining farm are: Clear. Chilly. Current temperatures at 1.21°C / 34.17°F provide good cooling conditions, with the weather forecast showing a downward trend in temperatures. This should result in increased profits.
Transparency
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!
