May 17, 2022
Blockopedia Investment

Here’s how Nitro Network’s miners are able to earn over $2000

miner network nitro network

What if I tell you that an internet, a small space and a miner is all you need to earn effortlessly? Did the word “miner” intimidate you and bring up all those images of e complex algorithms? Well, I don’t blame you. Earning through mining has been proposed as a difficult activity since inception.

However, the point is, mining is no longer a difficult task. Yes, that’s right. And Nitro Network is  making that happen for everybody! Nitro Network- an emerging decentralised private network company has made mining easier and simple. They are building one of the largest decentralized private telecom networks in a hyperconnected world. The company is creating a  global, distributed network of hotspots that in turn create public, long-range wireless coverage for LoRaWAN-enabled IoT devices. Hotspots creators are compensated in NCash, the native cryptocurrency of the Nitro Network.

Nitro Network is an ecosystem to incentivize the creation of a physical, decentralized wireless network. Instead of building the network themselves, Nitro Network is paying individuals in cryptocurrency to operate LoRaWAN hotspots. This is a very smart move!  Hotspot hosts are paid in Nitro Network Tokens (NCash). By having individuals across the globe build and run their network, Nitro Network has eliminated the growth pain points of LoRaWANas seen  in the above image. This is a very interesting way to use utilise blockchain technology to support a global wireless network and incentivize. It’s a very viable business model and it is working! A

I have pre-ordered  my Nitro ION miner and I’m excited to get on this network already! Lately, I started researching and reading about how mining on these private networks works. My curiosity led me to find out what I will be earning over the years from Nitro Network.

When I look at Nitro Network token distribution, a bigger portion has been allocated to data network which will be used for incentivizing miners on Nitro Network. Let’s do some simple math for calculating the return on investment. I have pre-ordered Nitro Ion Miner in its first batch roll out. Hence, I will get 100% off as NCash after my purchase. Now, my investment is $450- which is the price of the IoN miner. Currently, they are offering 187% APR as staking rewards earned by mining. As per secondary research data, on an average, $70-$80 is the estimated monthly income of a miner on a private network. I will consider $75 for my calculation. Now, let’s look at the table below:

Investment$450
Discount100% (in NCash)
Monthly earning$75
Yearly earning$75*12= $900
Option 1: In case  I stake $450 to earn more$450
Staking rate187%
Return from staking$841.5
Total earning at the end of the year$(450+900+841.5)= $2191.5
Option 2: Suppose I stake  all my mining reward to earn more$450+$900= $1350
Staking rate187%
Return from staking$2524.5
Total earnings at the end of the year$(450+900+2524.5)= $3874.5

As you can see, these numbers are just amazing. So going by  Option 1 , I will be getting a return of  $2191.5/$450)*100 = 487%. with 0 payback period. If Nitro Network offers to stake the entire mining reward at the same staking rate,  I will be getting a return of ($3874.5/$450)*100= 860%. Woah!! I’m already loving this network. 

Wait a minute!  The above calculated returns are in USD. Please don’t miss the fact that these rewards will be given in NCash (Nitro’s native token) whose value will increase over a period of time. And the growth of price can be either linear or exponential. Looking at the comparable companies’ price growth rate, I’m going to take a 20% M-o-M increase in NCash price. I have tried to plot a graph value of my earning with extrapolated NCash price. So basically in a year my earnings can fall between $2191.5 to $ ~$16,000 (as per Option 1 calculation). 

Similarly, one can calculate one’s return by changing the stake reward and discount he/she has got on a pre-order. But one fact is clear  that  early Nitro  miners are winners for life on Nitro Network.

I have considered the expected average earnings by miners in the initial phase. As more miners get deployed, these earnings can vary as per locations, coverage area, devices connected and many more. Location will play a crucial role in this case.. I have done a basic table to check how miner rewards can vary as per location and NCash price. The rewards are in NCash. Tier 1 location is less populated by Nitro Ion Miners, Tier II is moderately populated and Tier III is densely populated. Tier III locations will be considered as a prime location for miners. 

You need to only take a  look at these estimated numbers, and you will get an idea about the awesome kind of return with minimal investment.

I’m excited to start mining and earning NCash. Calculate your rewards and let me know your thoughts or comments on what is your expected earning? Trust me, you will love to be on this network that loves and rewards miners!

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