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New Cryptocurrency ‘Bitcoin Minetrix’ Raises Nearly $13 Million in Token Presale

New Cryptocurrency and Cloud Mining Platforms Bitcoin Minetrix Its token pre-sale is approaching the $13 million mark, exceeding 85% of the $15 million fundraising goal stated in its white paper.

This milestone occurs just two weeks before the highly anticipated Bitcoin halving event, adding to the project’s timeliness and relevance within the cryptocurrency mining ecosystem.

What is Bitcoin Minetrix?

Bitcoin Minetrix is ​​a project that aims to make Bitcoin mining easier by introducing the concept of staking mining. Bitcoin Minetrix does not require the expensive hardware and substantial electricity costs associated with traditional Bitcoin mining, instead allowing users to mine Bitcoin by staking native $BTCMTX tokens on the platform’s website.

In return, users receive non-transferable ERC20 token points that can be redeemed for Bitcoin cloud mining time or a portion of Bitcoin mining earnings, granting users fully decentralized control.

Once these mining credits are converted into Bitcoin, users can transfer them to a personal wallet or sell them on an exchange. Essentially, Bitcoin Minetrix provides a tokenized cloud mining system where users can deposit BTCMTX tokens to receive cloud mining credits, creating a pay-as-you-go mining model.

Bitcoin Minetrix is ​​also a user-friendly and efficient tokenized cloud mining platform. While traditional Bitcoin mining presents challenges for casual users and cloud mining is rife with scams, BTCMTX aims to level the playing field so that anyone can safely participate in mining the world’s largest cryptocurrency , and receive staking rewards of $BTCMTX tokens.

Bitcoin Minetrix Presale and Token Economics

The Bitcoin Minetrix project aims to raise $15 million through a token pre-sale. The pre-sale involves 39 stages, with token prices gradually increasing from $0.0110 to $0.0148 per token.

total supply $BTCMTX token It’s 4 billion. Of the tokens sold in the presale, 42.5% will be used to fund Bitcoin mining operations, 35% will be used for marketing, 15% will be used for community activities, and 7.5% will be used for staking rewards.

Bitcoin Minetrix Pre-saleBitcoin Minetrix Pre-sale

Source – bitcoinminetrix.com

To purchase $BTCMTX tokens, users will need an Ethereum-compatible wallet like MetaMask. Tokens can be purchased using ETH, BNB, MATIC, USDT or card.

Limitations of traditional Bitcoin mining

The need for solutions like Bitcoin Minetrix stems from the limitations of individual hardware mining. Consider the substantial annual expenses required for suitable mining equipment (often over $10,000 or more) as well as the huge power costs, especially as mining difficulty increases. Profitability relies on avoiding interruptions to this physically demanding process.

While cloud mining services try to solve hardware issues, they often under-deliver due to opaque practices, and erroneously withheld funds are common on much-hyped platforms that offer unrealistic Bitcoin contracts.

Additionally, even profitable services must contend with the massive energy consumption associated with Bitcoin mining. According to the “Digital Economist”Every year, energy consumption used to secure the Bitcoin blockchain network reaches a staggering 160 TWh, which is comparable to the energy consumption of small countries. This highlights the extreme pressure the mining industry places on physical resources.

As the premier proof-of-work cryptocurrency, Bitcoin requires immense computing power to confirm transactions. However, environmental impacts and barriers to widespread participation reveal why a better system like Bitcoin Minetrix should emerge.

JPMorgan report shows higher Bitcoin profitability ahead of halving

According to a report by J.P. Morgan, Bitcoin mining is expected to achieve higher profitability ahead of the upcoming halving event. The network’s average daily hash rate, a measure of computing power for mining and transaction processing, hit a new peak of 600 EH/s (exahashes per second) in March.

This figure is up 4% from February and 80% year-on-year. As noted in the report, the increase in hashrate not only points to increasing competition among miners, but also the resilience and optimism of the industry.

The upcoming Bitcoin halving event will reduce the block reward from 6.25 Bitcoin to 3.125 Bitcoin, and despite the positive trend, there is still uncertainty about future mining profitability. JP Morgan said April’s halving could lead to lower profitability unless offset by a strong rise in Bitcoin prices or a significant drop in network computing power.

in conclusion

Bitcoin Minetrix may provide an interesting solution to the challenges posed by traditional Bitcoin mining. By offering a tokenized cloud mining model, the platform aims to make mining more accessible to a wider audience while solving issues such as high hardware costs, electricity bills, and environmental concerns.

As the project’s presale raises nearly $13 million, it signals growing interest in this method of cryptocurrency mining ahead of the much-anticipated Bitcoin halving later this month.

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