What is mining?

Mining facilitating the transmission and of data by securely and verifiably adding transactions to a public ledger for peer review.
This data can take many forms:

  • Smart Contracts being executed, to power Dapps as the “back end”.
  • Dapps or Decentralized Apps are the “front end” or interface for users to access the smart contract functions.
  • NFTs (Non-fungible Tokens) Unique items that can be bought, traded, or collected.
  • Coins or tokens being sent to settle a payment.
    • Bitcoin (BTC) the largest in Market Cap. (total value of all coins at market price) and general 2nd in 24hr volume of trade.
      • take a look at the Lightning Network built on BTC to allow for near instant payments with near 0 fees.
Why Mining?

Mining computers support the network they are working on in various ways. They make the network more secure because it becomes harder for a malicious actor to out-compete the rest of the network. Each mining computer acts as one more point of redundancy in case something happens to other parts of the network. The work done by these computers is rewarded to incentivize people to participate in processing the blocks onto the ledger. This presents the opportunity to generate an income by becoming a part of this processing network.
Another reason someone would mine a coin specifically is it is one of the only ways to obtain certain coins not sold on exchanges or can be a way to not have to deal with exchange KYC.
Thirdly, its one of the few ways to obtain “clean crypto” that has never touched an unknown wallet.
That is where MyntFarm comes in. We build specialized dedicated computers for mining, also known as mining rigs. We use GPUs (Graphics Processing Unit) or ‘graphics cards’ for the mining process.

Private Mining Charges

For private mining you can choose to pay daily or monthly or yearly based on the GPUs you have opted to use. The rate is calculated based on power used by the GPU.

Crypto Payouts

Managed mining Payouts

We currently offer pay outs in any currency supported by Coinbase.com.
While you do pick a currency at account creation you can change the payouts at any time. The change in payout currency will take effect on your next payout cycle.
Payouts are based on mining pool payout times.

Private mining Payouts

You will have control over your own wallet and will receive payouts from your pool.

Return On Investment

Calculations and Fees for managed mining

Daily Housing Costs [DHC] = $ 0.67 /day/GPU Cost Locked until 9/2023
Farmer Daily Cost [FDC] = DHC x (# of GPUs)
Farmer Daily Revenue [FDR] = (Revenue Generated) – FDC
MyntFarm Fee [MFF] = FDR x 0.2 (20%)
Daily Farmer Payout [DFP] = FDR – MFF
Estimated ROI = (total GPU cost)/ DFP

Also see Getting Started for info on setting up a wallet to accept your payouts.