The Ultimate Mining Guide
Things are heating up
Gm miners,
The BTC-USD exchange rate hovered near the ATH ($73,750) on Tuesday:
It should be an interesting week with the election results coming up.
Global M2, on the other hand, successfully surpassed its ATH:
Bitcoin price has a strong directional alignment with Global M2:
There is almost $1B in open shorts to be liquidated at the ~ $72,000 level:
If the price rips through this on a bullish election result, demand for BTC enters price discovery territory.
With an ATH on the horizon, hashprice is looking to follow suit:
Hashprice directly impacts mining profitability and ASIC prices.
If you read last week’s letter:
You will know understanding hashprice is key to achieving a profitable mining position.
When BTC price takes off, so does hashprice. Miners currently hashing will be in the best position to scoop up sizable profits in such an environment.
Here is a look at current machine profitability:
If you want to learn more about what hardware we currently have available, send us an email: sales@simplemining.io
Simple Mining Onboarding Guide
If you are a new or existing client, be sure to check out the Simple Mining Onboarding Guide:
https://www.insights.simplemining.io/simple-mining-onboarding-guide/
This guide is packed with valuable resources to help you as a Bitcoin miner.
For example, the guide covers pool withdrawal fees.
Luxor has a flat fee of .000075 BTC ( currently ~ $5)
If you are making frequent withdrawals, this can significantly impact your profitability.
It is recommended to withdraw less frequently and when fees are low.
As always, reach out if you have any questions.
Have a great weekend✌️