Braiins Insights: Bitcoin Mining, June 2022
Braiins | bitcoin mining tools
Everyone feels the squeeze of the bear market now. Bitcoin’s price continues dropping, mining profit margins are tightening, mining FUD is spreading, and everything is just a little less fun than when the market was at all-time highs last year. But we still find new blocks every 10 minutes and continue building for the next, inevitable bull market.
Thanks for reading our newest monthly mining recap! In this email, you’ll find the latest updates and mining insights from Braiins in addition to highlights from the month’s industry news, a few mining memes, and more.
Bitcoin Mining Data
Keep up with the latest mining data on the Braiins Insights dashboard.
In these market conditions, there are very few fun data to look at. But at least the next halving is closer on the horizon. Earlier in June marked the less-than-100,000 blocks milestone. (Halvings are bullish, right?)
The most brutal data point is hashprice, which has had a horrific start to the summer. Bitcoin’s price has dropped roughly 70% from its latest record high, but difficulty has continued inching higher. Hashprice is now sitting below $0.10 for the first time since October 2020.
Plummeting hashprice pushes old hardware offline. S9s have a breakeven power price of $0.04 / kWh. Our friends at Coin Metrics noted the significant drop in hashrate contributed by S9 machines corresponding with their plummeting profitability. No market for old hardware.
Braiins Mining Insights
Automated Control Of Home Temperature With Mining Heat Exhaust
A guide to using an open-source software tool for easy control of bitcoin mining hardware running Braiins OS+
Bear Market Mining (Part 2): Setting Expectations | Braiins
Understanding a home miner’s local energy market and explaining options for switching rates to optimize power expenses.
Why Custom Mining Firmware Matters
Why should miners consider installing custom firmware? This article explores the risks and benefits of not sticking with the ASIC manufacturer’s stock firmware.
Bitcoin Mining News
In political and regulatory news, miners are still making headlines. New York City Mayor Eric Adams wants governor Hochul to veto the mining moratorium bill. And Republicans are fighting against hasty anti-mining regulations from the US Environmental Protection Agency. A recent decision from the US Supreme Court narrowing the scope of a key environmental law will likely help these efforts.
The Dakotas made multiple headlines for new mining activity in June. South Dakota-based utility company signed a five-year deal for 75MW with a mining unit in Cheyenne. Kevin O’Leary-backed Bitzero has also planned200 MW mining builds in North Dakota in the next 2-3 years.
Mining activity in oil fields continues to grow. Russia’s Gazprom is partnering with BitRiver to energize bitcoin mining farms at oil fields. And Swiss-based mining firm White Rock deployed its first flare gas-powered machines in the US.
Solar-powered miners also made the news several times. Mawson took stake in Tasmania Data Infrastructure with plans for a 100% renewable 35 MW mining farm. Aspen Creek Digital started mining at its 6 MW co-located solar-powered site in western Colorado. Also – outside the US – Uzbekistan legalized solar-powered cryptocurrency mining operations within its borders.
Bitcoin Mining Memes
Bear market got you feeling down? Here are a few elite mining memesfrom the Braiins team and our community you’ll enjoy.
Braiins Mining Community
Braiins has the best community in the bitcoin mining industry. Here are a few highlights from conversations and interaction with our friends and fellow miners.
- A new Braiins miner joins the family with his two S9s. Welcome and happy hashing, @satoshiops.
- And we love to see @ShaneTrammel also using Braiins OS+ for noise reduction. Quieter is key!
- Shoutout to this Braiins miner using her S9 as an emergency dryer for her attire before a wedding.
- We love to see mining teams like Great American Mining reading and enjoying the education content published on our blog. And miners like @ColonelE4 verifying our temperature efficiency data with his own mining farm’s data.
- Here’s some cool footage from Aipro Energy of a customer running 5 kw of immersed machines with Braiins OS+.
- Cripto Noticias talks to the Braiins team in Latin America about the current market conditions. Their response: HODL.
- Our insights team loves seeing other analysts use data from the Braiins mining dashboards. Cheers, @smidnico! More features and datasets coming soon.
- Thanks to @j_ustHODL for using and sharing our profitability calculation tools.
- Here are some great photos from @nanogrialba as he prepares to test his own immersion setup with Braiins OS+.
More From Braiins
Want to work in mining? We’re hiring for over a dozen exciting roles in firmware development, hardware engineering, design, support, and more! Click to see roles and apply.
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By miners, for miners.
— Braiins