All About BTC, LTC, ETH mining as well as other alternative crypto currencies
CEX.IO is the leading Bitcoin Cloud Mining and Commodity Exchange at the moment where you can purchase hashrate and start mining for BTC immediately. All of the mining hardware and software is cloud hosted and managed for you, so you don’t have to do anything besides purchase some KH/s, MH/s or even GH/s.
Benefits you get with CEX cloud mining for Bitcoins:
– The hashrate you purchase is yours for life.
– You can sell your hashrate the moment you decide.
– No technical knowledge required to mine for Bitcoin.
– No hardware to maintain yourself, so it is very easy to start.
– No software to configure, support or monitor.
– Collective mining, where the chance of getting a reward gets bigger proportionally to the overall pool capacity.
– All mining hardware is kept safe and maintained properly in a full featured data-center.
– No cooling or space-related problems or big electricity bills as with dedicated hardware.
– No power or network connection losses, your hashrate is stable and guaranteed.
– 0% pool fee, yes No FEE for the mining pool, so this means higher profit for you.
– Real-time Stats (see how much you’ve mined, how the system is doing, etc).
– Automatically mining some other coins (NMC, IXC, DVC) as an extra bonus.
But how does all of this work in the real world? We decided to try it out and already a week has passed out, so it is time to report what we have earned mining BTC in the cloud with a hash rate of about 187 GH/s that we have purchased. The total earnings we have accumulated in the course of 7 days equal to 0.39040324 BTC or more than $300 USD at the current exchange rate BTC/USD. And the best thing is that if we sell the GHS we have purchased in order to turn them back to Bitcoin at this moment we are going to get an extra 5% due to the higher exchange rate per GHS since the time we have purchased the hashrate. So just for one week you can say that our invested coins in BTC Cloud Mining have managed to give us about 10% profit… not bad at all.
We already talked a bit about the Primecoin (XPM) alternative cryptocurrency and have mentioned that it has good potential for growth, so it might be a good idea to mine some XPM now and keep them with the idea that the exchange rate will increase along with the interest in this crypto currency over time. At the moment Primecoins can only be mined with the CPU of a computer, so you can combine Primecoin mining on the CPU with Litecoin mining on the GPU on the same system and make some extra profit from that if you are already mining LTCs on one or more computers. You can of course mine XPM on pretty much any computer, but the more powerful the processor is the better and the same goes for the number of cores, the more – the better.
We’ve decided to give it a go with two systems using different processor for 24 hour time period in order to see what profit we are going to make. Both of the systems are mining Litecoin on the GPU, but that does not interfere as long as you set the cgminer processor affinity to just a single core if using Windows. We have decided to use one of the biggest Primecoin pools for the test – ypool, though the pool also offers other alternative cryptocurrency mining options.
The two CPUs we’ve used for mining are:
– Intel Core i5 2500K Quad Core 3.3 GHz
– AMD Phenom II X6 1100T Six Core 3.3 GHz
The pool we used for XPM mining is ypool:
– 3% fee
– 1000 confirmations per block
The total earnings for 24 hour period (confirmed + unconfirmed):
– 0.3565483 XPM
The value of the Primecoin mined for 24 hours is as follows:
– 0.04838065 LTC
– 0.00139265 BTC
– ~1.15 USD
A little over $1 USD per day does not seem that much of a profit for the moment, but that is only if you sell the Primecoins now, the wise idea however would be to mine now and save the coins for later, expecting to the exchange rate to go sky high. Anyway, it is up to you to to decide if you want to mine and sell now or mine and save the coins for later.