Bitcoin mining
Hashpower, network difficulty, running costs and why mining rewards change over time.
Read the mining storyBitcoin • Mining • Digital assets
Building in crypto.
Learning in public.
A first-hand look at Bitcoin mining, reinvestment and the digital projects around it. Real decisions, practical explanations and lessons from the journey.
THE MINING JOURNAL● ACTIVE SINCE AUG 2025
701.70 THrecorded on 2 October 2026
AUG ’25OCT ’26
Dated snapshot, not a live balance. Hashpower is mining capacity, not a measure of profit.
15 Aug 2025Mining journey began
701.70 THRecorded on 2 Oct 2026 · 700 TH passed
10%Target allocation to a BTC treasury
Explore Navryo Crypto
Follow the work behind the numbers.
A home for the projects Stephen is building and the ideas he is testing, with clear explanations alongside the journal.
Reinvest & retain
A look at growing hashpower while gradually setting aside a portion of rewards in a BTC treasury.
See the approachThe crypto lab
Notes on wallets, USDC, Hivemapper and other projects tried in the real world.
Explore the labThe GoMining journey
From a first miner to a growing operation.
Stephen started in August 2025 and has tracked the growth of his hashpower, the changing economics and the choices he makes with rewards. The figures below are dated records of capacity on GoMining. They do not show net returns or the value of the operation.
How the approach works29.31 THAn early hashpower milestone, shortly after the journey began.
366.06 THGrowth through regular reinvestment.
533.30 THMining operation passed the 500 TH mark.
650 THA year of learning, reinvesting and adjusting to changing rewards.
701.70 THPassed 700 TH — around 24 times the early 29.31 TH milestone.
The approach
Grow the engine. Build a reserve.
Growing capacity and holding Bitcoin are different goals. This approach balances reinvestment with gradually building a reserve.
Reinvestment
Some mining rewards are put back into hashpower. The amount added and the rewards it produces can change with pricing, difficulty, fees and Bitcoin’s value.
Keeping a share
The working target is to retain around 10% of mining proceeds in a BTC treasury. This is a target, not a claim that every monthly transfer has been completed. Electricity and service costs come into the calculation before decisions about rewards.
The crypto lab
Beyond Bitcoin mining.
A place for short, honest notes on tools and networks that Stephen has actually used.
Hivemapper & USDC
Stephen began using a Hivemapper BeeCam in February 2026 and reported his first USDC payment in September. The journal follows the practical experience of mapping on the road and receiving rewards.
Wallets and transfers
A wallet manages access to digital assets. Before a transfer, check the receiving address, the supported network and the fee. Never publish a recovery phrase or private key; a small test transfer can help check a route.
Start here
Crypto, without the fog.
Simple explanations for readers who want to understand the language before following the journal.
Bitcoin
A digital asset whose transactions are recorded on a shared ledger.
Hashpower
A measure of computing work used to secure Bitcoin’s network.
Satoshi
One hundred millionth of a Bitcoin, often shortened to “sat”.
USDC
A dollar-linked crypto token; it still carries issuer, platform and network risks.
News & insights
Notes from the journey.
Dated project updates and reflections from Stephen’s own experience.
Beyond 700 TH
The operation reached 701.70 TH, following an early milestone of 29.31 TH in August 2025. That is roughly 24 times the capacity. It reflects a sustained approach to building hashpower, with costs and changing rewards still central to the decisions.
Capacity growth alone does not establish profitability. A useful record also needs the amount spent, operating charges and Bitcoin retained.
Reinvestment or a reserve?
Reinvesting rewards grows capacity; retaining Bitcoin builds a separate holding. The working 10% treasury target gives that second goal a place alongside growth.
The next focus is keeping clear records of rewards, costs, reinvestment and treasury transfers so each decision can be assessed against its actual outcome.
Tools & resources
Go to the source.
Further reading for the concepts in this journal. External links are provided for reference.
How Bitcoin works
Bitcoin.org explains transactions, the shared ledger and how mining confirms transactions.
Read Bitcoin.orgUnder the surface
The Bitcoin developer guide explains proof of work and pooled mining in greater detail.
Read the mining guideUnderstand USDC
Circle’s own explanation of its dollar-linked stablecoin and its reserves. A dollar link is not a fixed value in pounds.
Read Circle’s overviewAbout the author
A record of what I’m doing and learning.
First-hand experience. Clear records. Lessons from doing.
Stephen Cresdee began his mining journey in 2025. Navryo Crypto brings his notes, milestones and practical experiments together in one place, as part of the wider Navryo family.