All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Aside from CexIO there is another old enough service offering with long enough history in order to be able to consider it as a trusted in terms of Cloud Mining services for Bitcoin mining. That service is called Cloud Hashing and we’ve been keeping an eye on it for a while already, though we were a bit reserved about investing some coins in it due to the quite high process they have. You can rent 85 GHS for $999 USD, 370 GHS for $3999 USD or 1 THS for $8999 USD, the lower the cloud mining hashrate the less attractive it is in terms of break even time. The prices cited here are quite high and they are for 1 year contract, so we took the numbers in a Bitcoin mining calculator that is supposed to give us an idea on when you can expect to break even and the results weren’t promising at all. Do note that the calculator uses some fixed values that we gave it like 15% increase in difficulty each time and a fixed price for Bitcoin at about $560 USD. In a year the price of Bitcoin could be double than what we have at the moment, the difficulty increase may be lower or higher, so there are quite a few unknown variables to take into account.
Running the numbers for the cheapest 85 GHS cloud mining hashrate plan we got a really disappointing results, as you can see in the graph above if the conditions do not change in favor of serious price increase for the Bitcoin there is absolutely no chance to get even in just 1 year (the period of the mining contract) and even if the contract duration was 2 years you will still be in the red. Going for the 370 GHS plan also returns pretty much the same unfavorable results, and even the 1 THS plan at the current price is way too high. In order for these BTC cloud mining hashrate plans to be profitable for sure with the current conditions they need to be half the price to what they currently are. Otherwise you are most likely going to loose money instead of earn investing in the cloud mining hashrate at the current prices that Cloud Hashing has… that is if the price of the BTC stays at the same level for another year. If the price gets twice than what it is for the moment you can actually make some money, however the risk is higher and no guarantees that this will happen. So be careful if you are considering investing in cloud mining hashrate in that service. We are probably still going to get a plan just so that we can properly test the service when we have some spare resources to invest there.