All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The cloud mining service Mining Sweden is a relatively new entry in the world of Bitcoin cloud mining services, but it is a service that seemed promising when we started testing it back in May. A small mining operation that wanted to grow along with the users that support it by nit just selling hahsrate, but also a kind of shares that will bring dividends to users aside of the mining profits. The idea was apparently to use the extra cash from the sales of VIP shares for growing the mining farm by purchasing more mining hardware, a good idea if it is not the only option you get. The problem with the service however is that they have stopped offering regular mining hashrate only and are offering only more expensive hashrate that comes along with VIP shares. Now, paying for more expensive hashrate is not something many people are willing to do with just a promise of additional unknown extra profit from the VIP shares in a year. In our opinion this is actually preventing the service from growing faster than actually helping it, especially now after we’ve been using it for some time.
We have purchased 150 GHS worth of hashrate with some VIP shares and so far we are happy with the results, note that the price of the hashrate also includes all maintenance fees for 1 year, so in theory with a good additional dividends coming from VIP shares when the mining contract is over it should result in a good profit. The problem is only that “it should” and nobody knows for sure what to expect as an extra profit from the VIP shares, precisely one of the reasons that is keeping us from investing in more hashrate. That of course does not stop the service operators to try and offer more attractive options for hashrate packs, but as we’ve said normal mining hashrate hasn’t been available for a while. The latest offerings include a package of 10 VIP shares with 100 GHS hashrate for $122.40 USD (you can get a 10% discount of the regular price wiht the promo code ms10), 50 VIP shares with 500 GHS hashrate for $745 USD or 100 VIP shares with 1000 GHS for $1090 USD (you can get a 20% discount of these prices with a promo code ms20). So if you are interested you might want to check out the new deals available and take advantage of the additional discounts via the promotional codes.
The Bitcoin cloud mining provider Genesis Mining has announced a new type of cloud mining contract with a fixed term of 1 year and a lower price per GHS resulting in faster ROI time than their standard Lifetime mining contracts. The new 1 year Master contract is available with a price of $0.29 USD per GHS as opposed to the price of $0.39-0.45 USD per GHS for the Lifetime contracts. The daily maintenance fee for the new contracts remains the same as before at $0.0015 USD per Gigahash. The standard listed 1 year fixed term contract is for 1 THS, but you can actually purchase a contract as low as 250 GHS fo the fixed term, the minimum for Lifetime contracts is 50 GHS.
The idea with the new 1 year term contracts for Bitcoin cloud mining is to provide alternative for users that want a shorter term ROI and are not interested in longer term investments that could end up bringing more profit over the long run. Do note however that there are no guarantees in the mining world, since the daily maintenance fee is fixed in USD the daily profit can vary depending on the current exchange rate of Bitcoin. The increasing difficulty of the Bitcoin network can also be a factor in reducing your profit over time. So always invest carefully in cloud mining contracts and do your math.
And here is a 2.5% discount code for the new 1 Year Master Contract and 5% off for the Lifetime mining contracts, so you can get even better deal for the price per GHS. All you have to do is to enter the promo code CryptoMiningBlog5 when checking out.
Time for an updated look on what cloud mining services are currently using, both older ones that have been available for quite some time as well as new ones that we’ve started checking out more recently. This quick overview will also cover some recent developments around the various services listed below that we are following. Also it seems that lately there is also a new alternative to traditional cloud mining that is gaining some interest from services such as HaoBTC or Bter that pay users interest based on deposited coins, interest that is generated by mining. These services offer lower profit over a longer term, but also the risk is lower than that of investing in a cloud mining operation. Also these services pay you interest on an hourly or daily basis and your deposited coins are not locked, so you can use them at any time you need them. Hashnest also tried something like an alternative to traditional cloud mining with their PACMiC offers, but their new v2 is not as attractive as their initial offer. But back to the traditional cloud mining services…
– Genesis Mining is the preferred Bitcoin cloud mining service in terms of transparency and reliability and we’ve been using it for about a year already. The company is open, their teams frequently take part in crypto currency events and they have published information on their mining operations including their hardware suppliers. Daily payouts, transparency, multiple ways to purchasing cloud mining hashrate, probably not the fastest ROI out there, but less riskier. Here is a special promotional code that you can use to get a 5% discount for hashrate purchases – CryptoMiningBlog5.
– ZeusHash is a bit controversial with their cloud mining offers over time that have been unprofitable, but with their more recent offers they seem to be doing much better. Their partnership with the large Halley China mining farm has allowed them to offer a good price for their cloud mining hashrate and their most recent offer for 30 day cloud mining contracts with the users getting back what they have paid initially plus what they have mined at the end of the contract was also an interesting opportunity.
– GigaHash is still one of the smaller Bitcoin cloud mining farms that we see a good opportunity for growth in. Started as a private mining investment and after that offering cloud mining services to broader audience with their mining farm expanding all the time, lately based on AntMiner S5 ASICs. Daily payouts, useful and clean custom interface, good and timely support when there are some kind of issues, so worth checking out even though we’ve started using the service more recently.
– Mining Sweden is another relatively new entry in the cloud mining scene, starting as a smaller mining operation with plans to grow with the help of its users. The service offers Mining Shares (currently sold out) that are only for cloud mining and VIP Shares that give you not only cloud mining hashrate, but percentage of the profits of the mining operation. The service also offers users to buy BitMain AntMiner S5 ASIC miners and have them hosted in their data center. Could be a good long term investment as things seem to be working pretty well so far. Here is an extra 10% discount code from the regular prices that you can use, just enter ms10 during checkout.
– HashFlare is another more recent service apparently operated by a bit controversial Bitcoin ASIC manufacturer. So far it seems that the service is working just fine and is paying out without any problems, but still you might want to be careful with larger investments just in case. If you want to try it out, here is a promo code for 5% off for purchases over 250 GHS – HF15SMMR5P2 or 20% off for purchases over 2500 GHS – HF15SMMR20P2.
– Eobot is a service that has been available for quite some time already, according to their website since 2013, but we’ve just recently decided to check it out and so far it seems everything seems to be running fine and as promised. Initially it did not consider their offers of much interest, but their GHS 2.0 Bitcoin cloud mining contracts do not seem so bad at the moment with the current market situation. They also do have some other interesting services such as Cloud Folding and their own mining pool, so you might want to take a look, just stay away from their mining app.
A bit of warning in the end, stay away from the Bitcoin Cloud Services as they have suddenly stopped paying about a month ago, but their website is still online and they are still “accepting” payments form new users that never get hashrate or any payment in return, so do not throw your coins there! Another service that has been available for quite a while called Scryptcc has also had trouble recently claiming to have been hacked and a few hundred Bitcoins stolen from them and although they have returned and seem to be back online we would advice to stay away from the service for the moment, as they have lowered the mining income users are getting in order to get back what was apparently stolen from them. Until they resume normal operation with normal mining rewards for their users we would advice to stay away from them.