June 14: Bitcoin mining difficulty is expected to drop ~11%, from 138.96T to 123.70T.
It won't flip our machines to profit on its own. But it moves the math in the right direction.
What other signals do you watch before re-entering BTC mining?
Quick fleet update:
Machines: offline (cost > revenue)
Hardware: maintained, ready to restart
Tokens: ltMNER + rtMNER fully liquid
Team: exploring yield options from amortization reserves for rtMNER holders
The pause was built into the model. https://t.co/ZfVd5yefij
Our S19s run at 95 TH/s and draw ~3,250W.
At current hash prices (~$30/PH/day): ~$2.85 revenue per machine per day.
Power at $0.10/kWh: $7.80/day.
Net: -$4.95/machine/day. So they're off.
Not a crisis. When the numbers flip, they come back on. ltMNER and rtMNER stay fully liquid in the meantime.
Bitcoin mining brought Mner Club to life. But it was never the whole vision.
Mining Facility RWA. Bond RWA. Venture Capital RWA. AI GPU RWA.
While our S19 fleet sits on standby, we're building toward all of it.
Which RWA class would you want tokenized next? https://t.co/nRQOLFZl1U
Two things are true right now: the S19 fleet is off, and Mner Club is more active than ever.
ltMNER and rtMNER trade freely. We're working on ways to deploy amortization reserves for rtMNER holders.
The hardware isn't going anywhere. Neither are we. https://t.co/RP5U4u2dNl
At $0.07/kWh, an S19 loses ~$1.32/day at current difficulty (136.61T).
That's the math behind our fleet shutdown. BTC production cost for older hardware: ~$87K. Simple arithmetic, not panic.
Hardware maintained. Back online when conditions shift. https://t.co/ZfVd5yefij
rtMNER is the rebase token that accrues BTC yield when our fleet runs. ltMNER is the liquid ERC20 you swap into it 1:1 on Merlin Chain.
Which RWA class on the roadmap interests you most: mining facility, bond, VC, or AI GPU?
Next difficulty adjustment is tracking toward a ~5% drop on May 30, the sixth cut this year. Lower difficulty means surviving miners earn more per terahash. For paused fleets like ours, it shifts the threshold for switching back on.
Watching closely.
S19s sit around 30 J/TH. Network hashprice is near $37.50 per PH/s daily. At those numbers our fleet earns less than it costs to power. So the hardware is offline and maintained, waiting for the math to work again.
ltMNER and rtMNER stay fully liquid through the pause.
Rebase question we got this week: when mining is paused, what happens to rtMNER? rtMNER stops accruing BTC yield until hashrate is back online, but the token stays liquid and 1:1 swappable with ltMNER. Reserves work is what we're focused on next.
Two questions we hear most when the fleet is off: are the machines maintained, can I still move my position? Yes to both. S19s sit racked and powered down, ready for reactivation. ltMNER and rtMNER stay 1:1 convertible and fully liquid on Merlin Chain.
With network difficulty at 132T and the block reward at 3.125 BTC, an Antminer S19 at $0.07/kWh loses about $1.75 a day. That's the math behind keeping our fleet off. Margins come back when difficulty eases or power costs drop. lt/rtMNER stays liquid throughout.
Question for rtMNER holders.
When mining restarts, BTC yield rebases into rtMNER daily. But what about the months in between?
We're studying how to put amortization reserves to work without compromising the 1:1 mint and redeem with ltMNER.
What yield sources would you actually trust here? Reply below.
Quick status check on the paused fleet:
1. S19s are powered down, maintained, ready to flip back on
2. ltMNER and rtMNER remain fully liquid
3. Team is watching difficulty and BTC price daily
4. Studying amortization reserve yield options for rtMNER holders
No rush. The hardware comes back on when the unit economics work.
Difficulty just dropped 3% on May 2 (135.59T to 131.43T). Not enough to flip an S19 back into the green.
At $0.07/kWh, a 95TH/s S19 still runs about -$1.84/day per machine. Roughly -$55 a month, per box.
This is exactly why our fleet stays off until the math changes.
With mining paused, we've been heads-down on the next RWA categories.
Four are on the table: Mining Facility, Bond, VC, AI GPU.
If we ship one this year, which one would you want first?
Hashrate is above 1 ZH/s and blocks are landing faster than the 10-minute target. That pulls the next difficulty adjustment forward.
A drop puts older S19s back in the black. An increase delays restart. Our rigs flip on when the spread flips, not before.
Hardware sits maintained and ready. ltMNER and rtMNER remain liquid throughout.
S19 at $0.07/kWh electricity: roughly -$1.84 per day right now.
That number is the entire reason our fleet sits idle. We don't pay to mine at a loss. The rigs come back on when the math says yes.
ltMNER and rtMNER remain fully liquid in the meantime.
Mner Club's roadmap goes beyond mining: Mining Facility RWA, Bond RWA, Venture Capital RWA, AI GPU RWA.
Which asset class would you want to see tokenized next?