BTC Mining Farm

After extensive research and due diligence, the DAO has recently been presented with, and have now voted on, the opportunity to mine BTC, both for the project, and also as a service to individuals. Ymir, the firm that has provided the treasury and individuals with the ability to mine $KAS, has joined forces with Droid Capital yet again, this time on a much larger scale, and for $BTC.

As mentioned, the DAO has already approved this investment opportunity, with a majority of 1,772 in favour of the proposal. The crucial aspect of this deal is the electricity rate the DAO have managed to access.

At $0.05/kWh, Droid Capital’s mining operation will be running with significantly cheaper overheads when compared to other farms, which will hopefully ensure longevity and profitability as mining difficulty increases. For e.g. US listed BTC mining companies currently pay prices above $0.065/kWH, 30% higher than a 5c rate.

There are number of important details with respect to time, cost and potential further opportunities with this investment, so let’s take a closer look at the key information thus far.

• The 3-year lease agreement for the property housing the BTC farm totalled $40k, and was covered completely via selling a portion of the DAO’s $JUP allocation.
• The order for the farm itself, a custom built shipping container, will be placed this week. The farm will cost $48k, and will have a capacity of 1MW, allowing for potential operational scaling. The current ETA for this is ~6 weeks, in large part due to the conflicts in the Middle East increasing shipping times.
• The next step is to organise interest in BTC mining units for individuals that will be run within the farm. The Antminer T21 will approximately cost $4.3k-$5k per unit, please note that a range is necessary here due to the volatility in their market price. There is high demand for new mining units, so an ETA of ~6 weeks is responsible.
• There are plans and discussions to distribute mining rewards between staked Droid NFTs, although the magnitude of this depends on the number of machines running. Many mining units = higher rewards + higher cost. There are many technicalities to finalise, and these will be decided through another DAO vote soon.
• In terms of capacity, phase one of the farm will be able to hold approximately 125 mining units, and Ymir will be able to bring in clients if needed to maximise the farm’s use.

To find out more about this opportunity, join the Droid Capital Discord server, and read the relevant announcements or listen to the podcast with Ymir.

The DAO Treasury

January saw yet another increase in treasury value, rising 12% MoM from $611,179 to $686,004. The allocation of 220k $JUP has been an important one for the project in terms of AUM (obviously), but it has also highlighted the extreme upside in participating in community airdrops.

In light of this, the DAO has committed funds to multiple platforms and chains in order to maximise returns from any token allocations that occur. This is reflected on the balance sheet below.

It will be interesting to see the impacts that both $KAS and $BTC mining have on the treasury and the project as a whole. Offering individuals mining access at such competitive rates can only be a positive, and once again separates Droid Capital from many other NFT projects.

https://rows.com/embed/1bYGNG1buJUEmzloomJs7ElKEu0iktJtDRppdtpkmLeV/420d041e-92c0-4ec7-969c-501e3ed9581e?_height=540

Thank-you for reading! I hope this has been informative, and if you’d like to read more about the project, check out my previous threads on it and take a look at the whitepaper too. I’ll include the relevant links below for all things Droid Capital. Do drop a follow on X, Telegram and join my Access Protocol pool to stay in the loop.

As always, stay safe and bullish,