We have been receiving queries from our clients regarding Bitcoin mining returns. In the past few weeks the mining returns have plummeted due to several reasons, below we have explained them for you.
Factors for fluctuation of Bitcoin mining returns:
1. Bitcoin Price – Returns are directly proportional to Bitcoin price. A higher price means better returns and vice versa.
2. Competition (Difficulty) – Returns are inversely proportion to the number of bitcoin miners. Less number of bitcoin miners means better returns and vice versa.
1.a. Maintenance and electricity fees are charged in USD, but ultimately we have to pay equivalent Bitcoin. This means when the Bitcoin price is high, we pay less Bitcoin and when the Bitcoin price is low, we pay more Bitcoin.
1. Bitcoin price slumped from nearly 20,000 USD to around 6000 USD. It is now recovering, which is good for mining.
2. Competition (Difficulty) is increasing – every day many new Bitcoin miners are joining, which means the mined Bitcoin has to be shared equally; hence, our share is decreasing. If bitcoin price increases, this shouldn’t be a problem.
Addition Info (Precautionary Measures):
We are moving our miners (machines) from China to other Countries due to governmental pressures and increase in the electricity prices. Therefore, we have to ship the miners. We are doing it in two phases:
1. First, we will move 50% of our miners.
2. When the first 50% miners are ready to start mining in the new country, we will then move the remaining 50% of our miners.
This means your returns are slumped by 50% as there are only 50% of miners working and all our investors will share the profit. This is being done to avoid 100% interruption in our Bitcoin mining operations. We will keep you informed on the progress.
If you have any questions, contact our customer support.
Thanking for your continued patronage and assuring you of our best services at all times.