X11 Cloud Mining Now Available from Genesis Mining

30 Sep
2015

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The cloud mining company Genesis Mining has just added X11 algorithm cloud mining plans, something that we’ve been waiting for eagerly to happen. No, there are still no ASICs available for X11 mining, what they are using are GPUs for the mining and you can purchase X11 cloud mining hashrate for $24 USD per MHS for 1 year contract with no maintenance fee! Yes, you heard it right, there are no maintenance fees for the X11 cloud mining hashrate – all you have to do is pay the price per MHS and you get all of the mined coins as profit for the next year. Going for 20 MHS worth of X11 cloud mining hashrate you will have to pay $420 USD ($21 USD per MHS) and if you go for 100 MHS X11 hashrate the price is $1900 USD or as low as $19 USD per MHS. Of course you can purchase any hashrate in between these preset options for contracts with the bigger ones offering a nice discount, but there are more good news available to current and new customers of the service.

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Purchasing X11 cloud mining hashrate from Genesis Mining will allow you to mine Dash (the former DarkCoin), Startcoin or to mine the most profitable of these two and automatically convert to Bitcoin (BTC) with more X11 coins to be available soon as well. Furthermore there is a loyalty program giving 5% discount off the regular prices mentioned above on X11 cloud hashrate for everybody that purchased hashpower from the company in the past. If you are a new user and use our special discount code you will get 3% discount off the regular price for the new X11 cloud mining contracts, so you can get a better deal for the price per MHS as well – all you have to do is to enter the promo code CryptoMiningBlog5 during checkout for the extra discount. So you can really get a great deal on the prices of the X11 cloud mining hashrate, we are off to purchasing some X11 hashrate and trying things out.

You can get more information about the new X11 cloud mining services by Genesis Mining here…



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25 Responses to X11 Cloud Mining Now Available from Genesis Mining

tex

September 30th, 2015 at 15:25

No, thanx

dav1234

September 30th, 2015 at 16:49

The coupon code is not valid for x11 purchases, the plan seem more or less similar to their fast roi bitcoin mining they had not long ago as far as roi and benefit goes.

admin

September 30th, 2015 at 17:21

We have checked and the promo code works just fine for X11 with a brand new account, it is 3% for X11 and 5% discount for SHA256 hashrate.

Carlson

September 30th, 2015 at 21:26

Finally x11 in the cloud! Looks like a good opportunity because of no asics and very good prices.

I am actually wondering how can they be so cheap with graphic cards? If I would buy new gear I would pay much more
Also electricity costs are already included since maintenance =0.
Is it because you have the farm running since long time already?

PlusBitcoin

October 1st, 2015 at 14:49

The coupon code is for new accounts only, unfortunately is not valid for x11 purchases on established accounts. However, it seems that established accounts already get some discount applied automatically.

psimaster

October 1st, 2015 at 14:55

Is this profitable at all? Admin, how much did you start with for your test run?
Thanks!

admin

October 1st, 2015 at 15:03

We’ve started with 20 MHS to try out how things will work out with the new X11 hashrate. Running the numbers through a Dash mining calculator should produce about 6-7 months to get back your initial investment and the rest is profit, the good thing is that the difficulty and price of Dash is pretty stable, so long term predictions can be more accurate compared to Bitcoin for example. Also having the option to switch to some other altcoins if/when they become more profitable can help getting back your initial investment faster than that.

psimaster

October 1st, 2015 at 15:08

I checked out what you said. I noticed it appears to be true that the difficulty has been fairly stable for the past year. My calculations show the same results, I just wanted to check it with you. Thanks!

psimaster

October 1st, 2015 at 19:58

I had one more quick question if you don’t mind. How does mining allocation work? Do they pay you in Bitcoin or Dash?

psimaster

October 1st, 2015 at 21:01

The reply I received was “We mine the most profitable X11 coins at the time and then at payout time we trade those payouts to Bitcoin and pay out to Bitcoin.”

admin

October 1st, 2015 at 21:45

It depends how you have allocated your hashrate, the default is BTC (Auto) and then the most profitable coin is mined and the earnings are converted in BTC and you get paid in Bitcoin, but you can chose Dash and mine it and have the payment in Dash or Start and have it in Start coin.

Swat

October 1st, 2015 at 22:11

How do you calculate 7 months roi?

I guess it vary very much, i just used Dash Mining Calculator and it gives me a 403 days roi.

admin

October 1st, 2015 at 23:37

Make sure that you have the correct block reward and an average difficulty set (it may jump up significantly for a block and then get back down) in the calculator as well as zero cost for power. In a few days we’ll have actual numbers based on the payments from Genesis that should give a better idea on ROI than using a calculator.

Psimaster

October 1st, 2015 at 23:42

This is what I was told:

For reference 1MH/s X11 using BTC (AUTO) paid out 0.00028788 BTC today.

This is compared to 50GH/s SHA 256 where the payout was 0.00016647 BTC

So as you can see, you pay almost the same amount for 50GH/s as 1MH/s X11 but the payouts are higher.

Swat

October 3rd, 2015 at 13:28

I also stared mining.
I wonder is it better to exchange the coins yourself?
My guess is that GM will just trade them for the current prise and not the highest, did someone tried this?

psimaster

October 4th, 2015 at 14:19

I wondered that too. I’m pretty sure if you’re savvy enough to trade them yourself at the best possible price you might make a little more BTC than the autotrade. Then again you might not, and for me it’s not worth the extra hassle.

psimaster

October 4th, 2015 at 14:57

I read their FAQ again, and it says, “Furthermore, our platform uses an advanced trading engines that allows to trade the mined coins efficiently to any target currency (like Bitcoin). There is a lot of work and brain capacity going into the algorithmic trading engine to make it the best of its class..”

If you think you can out-do their trading engine, I’d like to know the secret.

Willians

November 15th, 2015 at 21:49

Hi, i bought x11 mining, and now have a doubt about the mining allocation. I need do select the coin, or if i selected the BTC ( Auto ) it will choose the best coin ( dash, litecoin etc ) and pay me in BTC ?

Cedres

June 30th, 2016 at 21:46

Willians: the default is BTC (Auto) and then the most profitable coin is mined and the earnings are converted in BTC and you get paid in Bitcoin, but you can chose Dash and mine it and have the payment in Dash or Start and have it in Start coin.

Jonathan Cole

July 3rd, 2016 at 20:58

okay, just to give everyone an accurate FYI. Here are my numbers:

200 MHs purchased on 6/29/2016

Daily payouts:
6/29 – 0.00439820 BTC
6/30 – 0.00483220 BTC
7/01 – 0.00441100 BTC
7/02 – 0.00425600 BTC

This is around $3 per day from a $1600 investiment for a 1 year contract. Let do some simple math… The ROI period in days is the investment amount which is $1600 divided by the per day payout of $3 which equals: 533 days!! This is NOT PROFITABLE AT ALL. DO NOT WASTE YOUR MONEY ON X11 CONTRACTS!! Hopefully publishing these results will help to save some of you from making a similar blunder and throwing your money away. Now, if these x11 contracts were lifetime? No problem, just be patient, and you’ll eventually get your money back and then profit, but being that this contract expires after 365 days and the ROI period is 533 days, well the math is pretty easy to understand. STAY AWAY FROM X11. Stick with the lifetime SHA256 and be patient, or just purchase the bitcoin directly from coinbase… I HOPE this helps some of you who are considering buying some X11 hashrate.

Jonathan Cole

July 3rd, 2016 at 21:00

Sorry I didn’t specify in the above post, this contract was for 200 MHs of X11 Hashrate…

Aleks

July 5th, 2016 at 21:23

Totally agree with Jonathan Cole.

I have also made a very big mistake, investing in X11 contract.
Is there any way to refund the order ? Seems like Geneseis-Mining support ignores me.

Desislav Yosifov

July 9th, 2016 at 12:01

@Jonathan Cole: The contract is for 2 years (730 days) …

admin

July 9th, 2016 at 12:15

It was one year until a recently, they have upgraded it to two years. The rapid release of too many X11 ASIC miners, more than the network could handle essentially destroyed the profitability of X11 mining at least for the moment…

sule

September 18th, 2016 at 01:43

admin what is the current ROI for x11 monero (XMR) mining for 100MH/S for one year.?

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