Mineral Development Journal
Currently, we are about to swap the royalty of Mineral to stable coins to embark on the next phase of development. A key strategic move involves channeling the majority of such proceeds towards acquiring Bitcoin mining hash power. Here is the purchase plan:
Mining rig series: Bitmain Antminer s19XP. Detailed product information please refer to:
Purchase scale: 550+ brand new units
Mining farm partner: Bit Origin Ltd (Nasdaq: BTOG)
We also need to prepay electricity fees and deposit.
Expected operation initiation date: January 20, 2024. All the mining net yield after such initiation date will be infused into L2 Treasury once the L2 is online.
We will disclose the mining pool observation link in the future to access the real-time mining data.
The exact purchase amount and operation timing are “to be determined” for international freights, custom, and deposit negotiation.
As Mineral continues to push the boundaries of innovation, a portion of the remaining proceeds will be directed towards the initiation of the development phase for the BRC-420 Layer 2 DeFi mechanism, setting the stage for a new era in decentralized finance on Bitcoin L2. Of course, we will conduct an audit of the development results.
