We are delighted to announce that The MoonLite Project has launched its first phase of Mining Operations.
It has taken many months longer than originally anticipated, but our team has worked hard to design and implement an operating cost matrix that is among the most efficient options available to mid-sized mining outfits, coupled with best in class and newest generating mining equipment.
Although this current state of our rollout only constitutes approximately 33% of our planned capacity, it is profitable, and is expected to remain profitable after BTC halving. Once future phases of our rollout have been deployed along-side this initial stage, we will see improved profit margins and other operating efficiencies.
Our team look forward to a long and successful journey, and would like to wholeheartedly thank all of our supporters for the encouragement along the way.
Phase 1 Breakdown:
|Q1 of 2020||December'19|
|Installed Miners (SHA256)||1300||1300|
|Hashrate at 100%||65,000 Th/s|
|65,000 Th/s |
|Energy Rating||4,22 MW (+-10%)||4,22 MW (+-10%)|
|% of Planned Deployment Completed||+-33%||+-33%|
|Mined Currencies||BTC - 100% ||BTC - 100% |
|Total Mined Current (Represented in BTC)||29,24|
|Average Conversion Price||$7,410.76|
|Overhead Costs (Non-Operational)||$15,500.00|
|Net Profit %||26.31|
|Attributable to Token Holders||$19,950.46|
1. We run our business in EUR, but for the sake of maintaining a universal reporting standard we report in USD.
2. All figures are rounded down, and for the above mentioned period only.
3. All figures reported have been drawn from our management reports. This report does not contain audited figures.
4. The 25% crypto cold-storage allocation as per the white paper has not been allocated. We do not yet got the staff to manage this trading yet, hence 100% of the profits have been converted to fiat.
5. Some charting will be developed and placed on the web site once a few months of production have been completed, and sufficient data is available.
6. Quarterly results will be published within 1 month of completion.
Debrief & Comments:
Our first month’s production is a solid performance with all things considered.
We had slightly lower efficiency from 28 November 2019 to 31 December 2019 due to maintenance and a number of smaller tasks which were required to get things set up correctly.
We believe that we are exiting a bear market, and have rolled out good quality mining equipment that is running within a highly efficient operating cost matrix.
It is precisely this matrix, amongst other things that our team have spent roughly 2 years trying to develop and refine. We believe that this period of time is now justified, judging by the initial reported numbers and future projections.
Better production is expected due to less planned down time, and due to the rising BTC price we foresee a better average BTC/Fiat conversion.
There was a jump in difficulty levels on 1/2 Jan and this will naturally reduce production if all metrics were at a constant 100%
It is tough to estimate production due to all the variables, but it is believed that we should see production of around 33-36 BTC.
Overhead costs will increase due to a payroll, insurance and some other fixed costs being initiated, but will be relatively fixed going forward from this point.
1. We have not yet developed an order for phase 2 mining equipment. This has been planned in the January workflow.
2. Web dashboard is still being designed. This will only be live towards the end of January, but ranks among our top priorities.
3. We are working on acquiring an additional 4100 miners which are located in Capitevo's Swedish site, but no further progress has been made in this regard. This represents an opportunity because there are no logistics to consider, and takeover would be as simple as changing stratum addresses. However, we need to come to an agreement before switching over the miners to our fleet. There is no fixed timeline for this item.
4. Our web site will undergo an update in the January/February period.
We have managed to source a bulk mail supplier that works with our mailing list integrations, so newsletters and other important emails will resume.
We will be releasing the following updates over the course of time:
1. A video update where we will share ideas, predictions, hopes for the coming year.
2. An Inaugural Business Report containing general info about the company, its financials, operations, token distribution and other information. This will be placed separately on our web site.
4. We will be rebooting our Telegram Channel and Social Media presence, and we will be creating more video content which will be delivered through a youtube channel. We have worked on re-appointing our dedicated community manager from February.
We will begin advertising our project to the world, as we believe that we can get our token price to increase and get better volume through the current exchange on which MoonLite is listed.
Our team will also work on getting the MNL tokens on Coin Market Cap and listed a better exchange with higher trade volumes in the coming months.