All About BTC, LTC, ETH mining as well as other alternative crypto currencies
As Bitcoin popularity and usage continues to grow and along with that it is becoming harder and harder to be mined at home due to large scale mining farms all across the world. Furthermore the things get harder for home miners due to many ASIC manufacturers stopping to sell hardware to end users and focusing either on their own mining farms or supplying large mining operations such as KnCMiner and Spondoolies-Tech. Other companies getting bankrupt due to various reasons leaving just BitMain as pretty much the only Bitcoin ASIC miner supplier offering up to date hardware and shipping to home miners as well as mining farms. This turns users’ attention to cloud mining services, but these can be risky as we’ve seen from our own experience testing many such services over time. The two most significant risks with cloud mining services are them turning out to be a scam and running away with your money or the services turning unprofitable and stopping to mine as they are not able to cover the hardware maintenance costs. We’ve already seen many examples of both, but we’ve also seen some that are still here and continue to operate as we have been using them long term for about a year or so. We have listed the services we’ve been using long term below along with some that we’ve started testing more recently and we are seeing some good potential in them.
Using for a long time already:
– Genesis Mining is one of the most serious entrants into the cloud mining world that we’ve been using for about 12 months already. The company is trying to be open and transparent regarding its mining operations including their hardware suppliers to counter the mistrust issues. Daily payouts, transparency, multiple ways to purchasing cloud mining hashrate. Here is a special promotional code that is giving you 5% discount for every purchase you make – CryptoMiningBlog5.
– Bitcoin Cloud Services is a more anonymous cloud mining operation that we started using about the same time as Genesis Mining, though it is apparently over a year old now. Have changed their initial offer from 5 years to 1 (currently promotional 2 year contracts), but are still here and pay out mined earnings on a daily basis, offer attractive pricing and anonymity is a plus for some people.
– ScryptCC is the oldest cloud mining services we are still using – over a year and a few months already. It looked promising and worked fine unless you had an issue and needed to deal with support from the start, so we’ve had some mixed feelings about it initially. They are still here and still paying out, recently had some data center electricity issues that resulted in a few days downtime and lower profitability for a bit, but it seems that things are apparently resolved now.
Started testing these more recently:
– Mining Sweden is a relatively new entry in the cloud mining scene, starting as a smaller mining operation and with big plans to grow with the help of its users promising to share a part of their own profits. The service offers Mining Shares that are only for cloud mining and VIP Shares that give you not only cloud mining hashrate, but percentage of the profits of the 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
– GigaHash is another new and interesting entrant in the Bitcoin cloud mining scene. It is another small mining operation that is scaling well, started as a private mining investment and after that offering cloud mining services to broader audience. Currently sold out all of the available existing hashrate, but offering pre-orders for the new hardware that is coming to them in a couple of days.
– HashFlare is another new service that has recently launched apparently operated by a Bitcoin ASIC manufacturer, but a bit controversial one – HashCoins. So far it seems that the service is working just fine and is paying out, but be careful with larger investments in cloud mining hashrate here 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.