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This is our seventh post in the Infinity Hash Weekly Update series for September 18th, 2023.
This week we experienced some major delays in the development of the new dashboard and successfully completed the integration of our new exchange and payout provider.
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 stable continuation of last week’s trend for most metrics with slightly higher Bitcoin prices than last week, a reduction in average electricity prices and good uptime resulting in more than 8% increase of generated rewards. These are the numbers for week 37, 2023 from 2023-09-11 to 2023-09-17.
| Metric | Current data | Change |
|---|---|---|
| Total Miners | 47 Miners | + 0 Miners |
| Total Hashrate | 5.69 PH/s | – 0.01 PH/s |
| Total Shares | 114,885 Shares | + 1485 Shares |
| Share Price | $ 0.80 | +/- 0 % |
| Rewards generated | 0.0917 BTC | + 8.32 % |
| Reinvested | 412 USDT | + 72 USDT |
| Electricity paid | 1552 USDT | + 50 USDT |
Dashboard and Feature Updates
a) New Exchange and Payout Provider
We completed the switch to a new exchange and payout provider last week. The switch took some development time that took away from time otherwise spent on the new dashboard, but has proven to be beneficial to the entire project and community due to lower fees for a few coins for payouts and better prices and liquidity for coin swaps.
Here is a list of the new features available with the update:
- USDT on Polygon (MATIC) now supported for payouts (previously only TRX, BSC and ETH were supported)
- BTC Lightning supported for withdrawals (still needs some development for integration on our side, but will be available soon)
Due to the new provider, there will be some changes to supported payout and swap coins, minimum payout amounts, minimum swap amounts, and payout fees. These may change from time to time based on current prices, but will be visible in the dashboard (current and new) when submitting a payout or swap. Here is a table showing the new fees and amounts:
| Ticker | Min. Payout Amount | Payout Fee | Min. Swap Amount |
|---|---|---|---|
| BTC | 0.0003 | ~ $10* | 0.00001 |
| DASH | 0.3 | ~ $2-4 | 0.04 |
| DOGE | 100 | ~ $2-4 | 26 |
| ETC | 0.4 | ~ $2-4 | 0.1 |
| ETH | 0.004 | ~ $2-4 | 0.002 |
| LTC | 0.09 | ~ $2-4 | 0.04 |
| USDT | 6 | ~ $2-4 | 2 |
| USDT.BEP20 (Binance) | 6 | ~ $1 | 2 |
| USDT.MATIC (Polygon) | 6 | ~ $1 | 2 |
| USDT.TRC20 (Tron) | 6 | ~ $1 | 2 |
| ZEC | 0.3 | ~ $2-4 | 0.02 |
TLDR: The minimum payout amount is always $5-$7 for each coin. The payout fee is $1 for USDT on all non-Ethereum chains (the cheapest payout option), between $2-$4 for all other coins, and around $10 for BTC.
NOTE: We know that the payout fee for BTC is still a bit high and are working on our own solution in the background.
Maintenance and Downtimes
There was no notable maintenance this week, resulting in an uptime of 100 %.
Announcements
Since there are a lot of updates in the works, here is an overview of the current state of development:
a) Launch of the new dashboard
The development of the new dashboard is going well, but during testing we found some bugs and problems on mobile devices. We are currently fixing these bugs and improving the mobile version until everything is running smoothly. We expect to launch it within the next 3-5 days, barring any unintended delays along the way.
c) Marketplace update
There are no plans to change the marketplace. It will be released as soon as possible after the new dashboard goes live. We may be able to launch it a few days after the new dashboard goes live.
d) Bitcoin Lightning support
Bitcoin Lightning support will be included in the launch of the new dashboard if testing goes well.
Links
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
Since the Reinvest wallet has been filled up nicely over the past few weeks and no major repairs have been needed, we will be able to add a new miner this week and increase profits for the community. The update to the payout and swap provider will also save fees in the long run and should increase overall profits.
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!
