12Ships Monthly Report-October 2020

4 min readNov 4, 2020

[ Press Time: Nov 4th, 2020 ]

Market Overview

On October 21, the Bitcoin price broke out and rose up by about $1,000 that day. Now, it has broken through 13,000 US dollars and hit a new high in 2020. In the past week (October 26–30), Bitcoin fluctuated roughly in the range of $12,700 to $13,900. As the risk aversion becomes intense where the U.S. stocks market continues to fall, BTC and gold have both shown unusual risk resistance capabilities. The mainstream crypto market’s optimism is further fermented by the continuous increase in prices.

*The content above is formed from some opinions of the popular media and analysts in South Korea and China.

Industry News

1)The 6th Blockchain Global Summit 2020 was grandly opened in Shanghai last week. The topics of this summit covered the blockchain industry, digital economy, public chain development(including Ethereum, Polkadot, and Filecoin), distributed finance, industrial Internet, DeFi, and other hot spots.

Shanghai International Blockchain Week

Juan Benet, the founder of Filecoin, delivered a keynote speech at the summit. He said that the demand for data storage will increase three times in the future. Filecoin mining is booming. Compared with traditional distributed storage networks, Filecoin is more widely distributed. Currently, more than 90 organizations participate in the development of Filecoin, and it also benefits from the IPFS ecosystem.

According to filfox.info on Oct 31, the whole Filecoin network's effective computing power is 708.25 PiB. The number of active miners is 631. The output in 24H is 156,945 FIL, and the pledge amount is 14,209,679 FIL.

2) Due to the end of the rainy season in Southwest China in October, and the electricity fees officially entered into the normal season level. The hydropower mine farms have begun to migrate to thermal or wind power areas in the northern region, and the decline in hash rate is a short-term phenomenon. As of Nov 2nd, the latest 7 days average Hashrate of the whole Bitcoin network has dropped to 107.49EH/s. Affected by this, the difficulty of the network is estimated to decrease next time.

Project Update

-Tech & Cooperation

1)12Ships team has finished to buy back and burn 4,994,526.158 TSHP with the mining profit in September of 44.26 ETH. The announcement has been published on 12Ships Medium and disclosed through the Upbit project disclosure channel: https://upbit.com/service_center/disclosure.

2)From Oct.1.2020 to Oct.31.2020, Hansando Pool mined 505,600 XVG, 8,500,000 RVC, and some other cryptos valued at $19,412. The total mining profit of Hansando Pool in October is valued at $23,124.56, from which an electric bill was charged for $15,474.62, and daily operation & development expenses were around $4,000. As a result, the net profit of Hansando in October is $3,649.94 and it was exchanged into 9.53 ETH. All these ETH will be used to buy back and burn TSHP. The details and burn Txid will be disclosed soon.

(Note: Due to the end of the rainy season, the power station cut out the power for maintenance repair; The electric bill is much higher than before; Some of the Altcoin miners are unavailable to mine coins because the algorithms changed; The Altcoins’ prices dropped.)

3)12Ships team participated in the Filecoin Open Day on October 26th and connected with the Filecoin Official team. 12Ships is also discussing cooperation with other Filecoin mining companies to strengthen and upgrade the software solution.

-Marketing & Operation

1)12Ships team held an AMA event in the Telegram community on Oct 16, 2020. It’s the first time that the new core team has shared their vision and responded to the questions from the community in person. There are hundreds of users active in our Telegram group during the AMA event. We received 36 comments and questions from Twitter and dozens of questions during the free Q&A session. The team plans to hold routine Q&A activities in communities every month.

2) Community Members

  • Twitter Followers: 3083
  • Fans in Telegram group: 1776
  • Fans in Kakao Talk: 579

About 12Ships

12Ships makes your journey to the blockchain investment as easy as possible by providing a profitable and reliable mining infrastructure. 12Ships was launched to realize the paradigm of the Fourth Industrial Revolution through blockchain. We have developed both the high-performance hardware needed to keep the data recorded in the blockchain reliable and the software needed for its operations. This is the future that 12Ships will realize to turn this platform and service into a new business that is capable of expanding.

For more information, find us in the communities!




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