Where do we allocate June Rewards?

🗳️ Ballot: June Community Rewards Wallet Allocation 🗳️ Will go live on Snapshot 07/06/2022 @ 12pm PST https://snapshot.org/#/blockchainminers.eth

Mining + Secondary Sales for the month of June totaled: 3.89 ETH + .38 BTC --> Total earned was 1.74 and 1.36 was for hosting fees)

[COMMUNITY GROSS YIELD]

• Secondary sales = 3.89 ETH
• BTC Yield (BTC) = 1.74 BTC (Less hosting at 1.36 BTC) = .38 BTC

[USD CONVERSION]

• Eth @ current (6/6/22) USD amount $1,134 = $4,415
• Btc @ current (6/6/22) USD amount $20,200 = $7,801
• Total Net USD = $12,216

With the market taking a huge hit over the last 30 days and the overall energy and liquidity being sucked out of the market, it is pretty obvious that the rewards for this month look pretty lackluster. We don't consider this to be a loss in any way, but more of an opportunity to start doing some new and innovative things with the community rewards. Over the next few days, we plan to rollout some ideas and concepts to make the community rewards more dynamic and involved with our OG and Ultra Holders (more to come on that).

We did also have a $350 Miner replacement fee we had to pay this month and the cost per miner for our BTC Miners in GA moved up from $169 to $185. We had a better hosting deal negotiated because 100 miners plus energy prices went up there so we are still at $185 (better than the industry average).

Though we are not here to sway your decisions, it is worth noting that there we will be placing an ALL RESERVE option for this months vote. We believe that holding our coins may be beneficial to the CW as we can:

1. Hope for some better price action in the coming weeks and liquidate at a more opportune time.
2. At worse case, use reserves to help pay for or completely pay for next months hosting costs (depending on price of the assets) Our hosting costs currently are just under $28k
3. BMC has plans to create a lot more excitement in what we propose for the community rewards wallet (Tune into tonight's AMA or listen to the recording, trust me). Having reserves to start things off could start us out of the gates HOT.

If we do elect to go the reserves route, we will store the total ($12,216) in BTC (.61 BTC) in the Community Rewards Wallet.