All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Another new cloudmining service that we’ve just recently discovered, apparently this is a small scale European mining operation that was just started earlier this year, offering Scrypt and SHA-256 cloud mining hashrate. It is keeping more on the anonymous side of things as far as details about the operators of the service as there aren’t much. So far the service has sold 100 THS worth of Bitcoin mining hashrate and 5 GHS worth of Scrypt mining hashrate and is offering their second batch of 50 THS hashrate for mining Bitcoin. From the GHASH2 contracts currently on sale there are 32298 GHS available for sale at the moment and you can purchase 1 GHS at a price of 0.00150000 BTC or $0.35 USD. The cloud mining contracts are with no specific term, so “lifetime” meaning until they are returning profit after you pay a daily fee of $0.00117 USD per GHS you own.
The payment methods supported include payment with Bitcoin, with multiple altcoins that are converted to BTC or with PayPal, so you have multiple options available. The service does seem to work well, comes with nice simple and useful interface with all the required information and features for the user. There is a graphical display with the daily dividends that you are earning from the hashrate you purchase and currently the last dividend amount from yesterday was 465 satoshi per GHS. We’ve purchased 100 GHS hashrate from the GHASH2 contract to try out the service and that should result in about 0.00046500 BTC earned daily with the current market conditions. We’ll keep you updated on how things progress with our tests of the service, but so far things are looking good, but as usual with new services we advice to proceed with caution and not invest much at start just to be on the safe side.
HashFlare is a new cloud mining service that we’ve just discovered, apparently a part of the European company HashCoins that manufactures ASIC miners. There is a bit of controversy surrounding the ASIC maker, but it has been available for a while and apparently has shipped some miners already with more available for pre-order. We have not tested any of their hardware miners, but their cloud mining service is something that we are going to be testing. If you are interested in their mining hardware we suggest that you read a bit about the company and their products released so far, as their upcoming products do not seem very attractive price wise at the moment. Their cloud mining prices do seem a bit more interesting though, but don’t expect them to be the best out there.
It is interesting to mention that the cloud mining service does offer Scrypt Cloud Mining at $9.95 per 1 MHS, something that is not worth investing at all at the moment in due to the very high price per megahash and very low ROI you can expect (less than 1 USD a month) due to the daily fee of $0.01 USD per megahash. The Bitcoin cloud mining hashrate prices do seem much better than he Scrypt ones, though we’ve seen better than $4.45 USD per 10 GHS with a daily fee of $0.01 USD per 10 GHS. Interestingly enough the service apparently also plans to offer Scrypt-N cloud mining powered by GPUs, even though that has not been profitable to mine for quite a while now and with the mother company having already announced upcoming Scrypt-N capable ASIC miners. So if you want to check the service out the only thing that is worth to go for is the SHA-256 cloud mining hashrate, and as usual we would not recommend to go with a large investment in a new service that has recently been launched.
We have already purchased 100 GHS worth of Bitcoin cloud mining hashrate as an initial test at the service just to test things and we have even found some promotional codes that can give you discount from the regular prices. So if you do want to try HashFlare you might want to use the promo code for 5% off for purchases over 250 GHS – HF15SMMR5P2 or 20% off for purchases over 2500 GHS – HF15SMMR20P2, the codes should be valid for Scrypt hashrate as well. We have paid for the hashrate with Bitcoins and as soon as the first network confirmation was received the hashrate was available in our account, so it started mining for us. There are alternative ways to pay for hashrate such as with wire transfer or a credit card also available aside from the BTC option. You can apparently also purchase additional hashrate with coins you have mined and have available in your balance, so you can easily reinvest some of the miner coins for more hashrate. Another interesting feature is the ability to select up to 3 different pools to spread your hashrate from a list of pools available, you do not need to add workers or to have registration in any of the pools available. Do note that apparently the poos you choose and the percentage of your hashrate available at each pool may apparently affect your mining profitability.
One of the things that miners are most concerned about when talking about cloud mining services is the fear that they may be a Ponzi scheme and that fear is fueled by the fact that many of these services are not very open and prefer to remain highly anonymous. Not all of the cloud mining services are like that however, there are some that want to be more open and not remain anonymous in order to make it clear to their users that they are serious and reliable. One such service is Genesis Mining, a service that was started just a few months ago, but has been developing constantly and is offering some unique and interesting new features in the industry.
A few days ago we have covered one of the latest features, the addition of Unobtanium (UNO) as a SHA-256 coin that you can choose to mine with Bitcoin cloud hashrate that you purchase. We have also covered the fact that the service has been out of stock of Scrypt cloud mining hashrate along with some concerns regarding ZeusMiner, one of the Scrypt hardware suppliers for the service. Genesis Mining however does not rely only on Zeus, who have announced that they are not going to be making new hardware a while ago, they do have other hardware suppliers like Innosilicon. As a proof we got a photo of Genesis Mining Scrypt mining farm of located in Iceland that is populated with a lot of Innoslicon A2 Terminator-based Scrypt ASIC miners and the company’s CTO in front of the mining hardware.