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:

  • 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.
    • Dogecoin (DOGE) first notable for its use as a tipping currency on Reddit and Twitter between users. Now becoming accepted by larger institutions like Newegg and Twitch for their products and services.
    • Ethereum (ETH) being used to power Dapps, buy NFTs, or settle payments.
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.
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.

Crypto 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.
A MyntFarm earns a payout approximately every 10 days.
The more computer power we build the smaller the interval will become.

Return On Investment Calculations and Fees

Daily Housing Costs [DHC] = $ 1.05 /day/GPU Cost Locked until 9/2022
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.