GameFlip

Posts Tagged ‘bitcoin cloud mining

cloud-mining-services

This is something hat you normally would not expect to happen, to see the prices of cloud mining hashrate to increase instead to get down as time passes, but we are seeing this happening in the last days with more than just one service. Normally the price of cloud mining hashrate should decrease over time as the network difficulty increases and as better hardware becomes available (higher performance and lower power usage). It seems however that lately there is so much interest in cloud mining from users that the already available services are having hard time meeting the demand for hashrate. The normal result in this case is to temporary increase the price, so that the number of new users should be lower, at least until you get enough capacity in terms of mining hardware to cover the demand.

A good example is the GAW Miners Hashlet that has generated quite a lot of buzz when it was launched with a price of just $15.99 USD for 1 MHS worth of Scrypt mining hashrate. At this price per megahash it was really attractive option to invest into and the result was a lot of hashrate being purchased by miners. Apparently the demand from users was so high that the price has been increased first to $19.99 USD and then a second time a bit later on up to $24.99, a price that is over 55% higher and not that attractive anymore. This means 55% more time to ROI now as compared to the initial price that the early adopters got when buying Hashlets and in the world of mining this is really significant increase.

But it is not only GAW, another big cloud mining service, namely PBMining has also done something similar and unlike with LTC the Bitcoin difficulty does not temporary drop, but continues to steadily increase. Previously the service was selling 1 GHS hashrate for 0.0029 BTC, but their latest price has been increased to 0.0033 BTC. Not so significant increase as in the case above, but still going up by about 14% is not little and definitely not something that you would normally expect to see. This is actually the first time we are seeing an increase with that service and we’ve seen them stopping to take orders at times when the available hashrate from the supposed ASIC mining hardware in the backend has depleted.

Another similar example is the service called Bitcoin Cloud Services that has also increased the rate of their rate for 1 GHS worth of Bitcoin mining hahsrate. Their previous price was at 0.0026 per GHS, right after they were temporary out of stock for a bit and were not selling hashrate. Their current price however has been increased up to 0.0029 per GHS which is probably the most attractive Bitcoin cloud mining price that you can get at the moment.

With other cloud mining services such as Cex.io for example there hasn’t been too much of a change, but there the price per GHS is driven by the users that trade on the website’s exchange. Of course because of that fact the prices there tend to be higher than on other competing services such as some of the ones mentioned already. Other services such as CloudHashing than tend to remain pretty expensive and don’t update their prices often are not having such problems, so that they don’t get the need to increase the prices further. All this however seems to point to the fact that there is an increased demand from users for cloud mining services, especially ones that actually can deliver relatively quick ROI and miners can thing about getting some profit investing in them. As a result we expect to see some more competition in the cloud mining services especially now when many ASIC manufacturers are also working on offering cloud mining services along with their new and upcoming mining hardware.

genesis-mining-logo

Genesis Mining has announced that will start to offer Bitcoin mining contracts starting Thursday, August 28th 2014 or with other words tomorrow. The new Bitcoin mining contracts will be introduced at very competitive prices starting at as little as $2.15 per GH/s according to the company. And the pricing is transparent: there are no additional fees or hidden costs. Up to now Genesis Mining has been offering only Scrypt cloud mining and we’ve been using the service for quite a while already and testing it, our initial impressions can be found here.

Genesis Mining has been open on what hardware they are using to back up the cloud mining hashrate they sell to users and also is one of the few companies into the cloud mining business that allows the user some control on what currency to be mined/payed in such as LTC, DOGE or BTC for example. Similar functionality should also be available to the Bitcoin cloud mining users who will be able to choose to mine other SHA-256 coins such as Peercoin or Namecoin for example. If you are wondering about the supplier of the Genesis Mining of Scrypt ASIC miners, it is ZeusMiner and the company that they have partnered for the SHA-256 mining hardware is apparently Spondoolies-Tech.

We do plan to purchase some Bitcoin cloud mining hashrate as soon as it becomes available and to do a short review of the new BTC mining functionality that should be introduced tomorrow, so stay tuned for our first impressions.

Update: 28th has passed and the Bitcoin cloud mining functionality is not yet available, it is not wise to announce a date and then not to deliver the promised things on it. Furthermore there is not a single word on either Twitter or Facebook about why and when we are actually going to see the functionality available. This is the easiest way to loose the users trust – promising and not keeping your promises, and not giving an excuse on you were not able to!

cloud-mining-services

It has been over a month since we’ve published a price comparison of the Bitcoin and Litecoin cloud mining services that we are using, testing or seem like a good option, as well as some that are probably not going to ever ROI for the term of their contract with the current difficulty and price, so that you can compare the different options better. Also it seems that there are still not that many easy to use Scrypt cloud mining services available and with the exchange rate of LTC going down it is getting interesting as it seems that most Scrypt ASIC hardware manufacturers are already moving to start providing cloud mining services as well.

Bitcoin cloud mining services:
Bitcoin Cloud Services – 0.0028 BTC per GHS, 5 years, no pool fee, no maintenance fee
PBMining – 0.0029 BTC per GHS, 5 years, no pool fee, no maintenance fee
CEX.io – 0.0036 BTC per GHS, indefinite, no pool fee, has maintenance fee
Hashop.io – 0.0069 BTC per GHS, 2 years, no pool fee, maintenance electricity fee
Cloud Hashing – 0.00875 BTC per GHS, 1 year contract, pool and maintenance fees
Cointerra Mining – 0.00876 BTC per GHS, 1 year contract, pool and maintenance fees

Litecoin cloud mining services:
Scrypt.cc – 0.11199 BTC per MHS, indefinite, no pool fee, no maintenance fee
Genesis Mining – 0.138 BTC per MHS (5% off with promo code CryptoMiningBlog5), 1 year, no pool fee, no maintenance fee

And a word of advice about Lunamine, it seems that the service has the lowest price per GHS, however in the last few days withdraw requests have not yet been processed and since this is still a very new service you should be careful should you decide to invest there! Also note that lately CEX has reached a lower and more attractive price with lowered maintenance fees and the other advantage is the exchange where you can trade your hashrate, ScryptCC also has an exchange where you cans ell your purchased hashrate, unlike with the other services. Cointerra and Cloud Hashing are still keeping higher prices that do not get updated with the increase of the BTC network difficulty, so they still do not seem that attractive with their expensive 1 year contracts compared to other services, even though with them you should not worry about possible scams.


top