All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The Bitcoin cloud mining service MiningSweden is now almost one year old now, though we have started testing and using the service back in May last year. The interesting thing about the company is that it offers two types of the so called mining shares that get you Bitcoin cloud mining hashrate – standard and VIP shares. The slightly more expensive VIP shares are supposed to provide users with extra profit based on the number of shares owned and the total profit of the company behind the project, besides the standard cloud mining hashrate that brings you mining profits. The extra payment that the VIP shares will bring their owners is supposed to be paid after the end of March when the company will close the business year and its profits will be calculated. So payments will be sent to VIP share owners in April most likely and we are going to finally see how the extra investment for VIP shares will pay out over the standard mined coins we got from the cloud mining hashrate.
Meanwhile there are still more VIP shares available (over forty thousand) from the total of 100K that were supposed to be available and sold to users, so you can buy not only standard mining shares with 20 GHS cloud mining hashrate per share for $9.69 USD at the moment, but also VIP shares in promotional multiple packs. You can currently get 1 VIP share along with 10 GHS cloud mining hashrate for $6.90 USD, pack of 10 VIP shares with 100 GHS for $68.25 USD, pack of 50 VIP shares with 500 GHS for $325 USD or 100 VIP shares with 1000 GHS for $614 USD. So far our experience using the service has been one of the most problem free and pleasant ones among all cloud mining services that we have tried, so we would recommend to check out the service if you have not done so. The only thing that we have found somewhat lacking is the lack of more regular information and updates with news, something that is somewhat of a general problem for many such services.
The cloud mining service provider Genesis Mining has just announced the immediate availability for Ethereum’s Ether cloud mining contracts. Ethereum is a distributed platform that allows participants to write and enforce their own “smart” contracts. It is sometimes also referred to as “Bitcoin v 2.0”. The alternative cryptocurrency protocol was inter-alia developed by Vitalik Buterin in 2013 and received wide support by community and professionals. The first sale of Ether coins (the currency of Ethereum) raised over $15 million (current market cap nearly $100 million).
The new contracts offered by Genesis Mining will be running for 1 year and will switch from Ether to X11 if Ethereum switches from proof-of-work to proof-of-stake which supposedly will happen end of fall 2016 according to Vitalik. The contracts will enable miners seeking to profit from the Ether value and are structured to maximize profit by all fees occurring upfront instead of throughout the life of the contract. The current price for 1 MHS hashrate for mining Ethereum’s Ether coins is $17.99 USD with all fees included in that price for 1 year duration of the contract.
Here is a quick and simple calculation on what you can expect to get with a 100 MHS Ether Cloud Mining contract for the duration of 1 year that you get will all fees included at $1799 USD when running the number through a mining profitability calculator. 100 MHS hashrate at the current Ethereum network difficulty should supposedly get you about 5 ETH coins per day or for 365 days you should expect to get about 1825 ETH coins if the conditions remain the same. With an exchange rate of about 1 USD per Ether coin at the moment you should in theory get a bit of a profit, however if the price doubles or triples in a year time things will be looking much different. Then again if you buy Ethereum Ether coins at the current price and it doubles in a year things might end up in a similar way for you, but at least you have the alternative available.
As far as we are aware this is the first actual service to offer Ethereum Cloud Mining Contracts, though there were some earlier announcements for new upcoming services that supposedly will be offering Ether cloud mining hashrate, but we haven’t seen any of these actually start operating, though there is a service for renting mining rigs already available for some time. The good news is that if you use our special discount code you will also get 5% discount off the regular price for the new Ether cloud 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 during the checkout procedure when you order hashrate. Do note that this promo code should also work for the X11 and SHA256 cloud mining contract that the service offers, so do take the advantage of a better price for hashrate should you decide to purchase some cloud mining hashrate at the service.
The Mining Sweden Bitcoin cloud mining service has announced a lottery where existing customers of their S7 VIP shares as well as new ones that purchase such by the end of the month can win some extra mining shares. Along with the lottery there is a new temporary promotional code available that can be used only for for VIP shares that gives you 15% discount from the original price, you need to enter the coupon code MS-15 during checkout to get the extra discount. Do note that the 15% promo code will be active for a limited period of time, after that only the MS10 coupon for 10% discount will be valid. We have been using the service since May and there have been no problems and we are happy with what we’ve been getting from it.
Existing owners of S7 VIP mining shares are able to win 5 S7 VIP Shares extra if they find their username listed on a product page on the website, but if you see your username listed you will need to send an email to the service operator in order to claim the bonus. For new purchases of VIP shares every order for a pack of 10 VIP S7 Shares gives you 1 lottery ticket, 50 VIP S7 Shares get you 7 tickets and 100 VIP S7 Shares will get you 15 tickets for the lottery that will be drawn on the last day of the month. If you purchase VIP shares with Bitcoin you will also be added in an extra draw for 25 additional VIP S7 Share Pack. So what you can win is 1st prize with 100 VIP S7 Share pack, 2nd prize is 50 VIP S7 Share pack, 3rd prize is 25 VIP S7 Share pack plus 25 VIP S7 Share pack if your order is with Bitcoin.