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OXBTC: Notice on Electricity Price Adjustment & Mining Extension Policy

OXBTC: Notice on Electricity Price Adjustment & Mining Extension Policy

Dear users,

In the face of the special period of bitcoin halving, the income of miners may be significantly reduced, and the situation that payback period cannot be guaranteed, in this case, in order to reduce the loss of users and get over a hard time together, OXBTC team decided after discussion:

1. From tomorrow, OXBTC will lower the electric fee of the BTC series contracts, including S17 spot and futures contracts, S17pro contracts, M21 contracts, S15 contracts, S9 contracts, and principal refundable contracts. Both the historic purchase contract and the current selling contract will be subject to a reduction in electricity fees. The price of electricity was adjusted from $0.0614/KWH to $0.0572/KWH.

2. In order to avoid as much as possible the difficult cycle of production reduction may result in a situation where net profit is zero, part of the contract extension function will be launched on the platform, users can actively choose whether to defer the contract in response to the market situation. After applying for an extension, the payment of income will be suspended and uniformly deferred to May 25, the validity of the contract will be extended according to the length of the extension.

Generally, the difficulty of mining bitcoin will have a period of adjustment in 14 days. When the difficulty is reduced, normal income can be restored. Therefore, people don't need to worry too much about it.

OXBTC official team

May 9