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Posts Tagged ‘cloud mining

hashlet-genesis-gaw-miners

GAW Miners have just introduced a new Hashlet cloud miner – the Hashlet Genesis. The new virtual cloud miner is for mining Bitcoins directly with SHA-256 instead of Scrypt. The Hashlet Genesis comes in a minimum of 10 GHS package that costs $9.99 USD and can be scaled all the way up to 3 THS for $2984.95 USD. The maintenance fee per 10 GHS Hashlet is $0.02 USD per day and currently 10 GHS can get you about 0.08819 USD per day with the Bitcoin network difficulty if you mine directly for BTC. Unfortunately this price is not as attractive as the initial price that the Hashlet for Scrypt had and it does not promise very fast ROI, with the current market conditions you will need to have less than 9% increase per adjustment period of the Bitcoin network difficulty to be able to just get a return of your investment in 1 year time. So making profit with Hashlet Genesis may not be as easy as it may seem and with the other Scrypt-based Hashlets that are already available.

You can find more information about the new Hashlet Genesis cloud mining here…

genesis-mining-scrypt-new-prices

The cloud mining service Genesis Mining has lowered the prices of their Scrypt mining hashrate down from $79 USD per MHS to $49 USD per MHS for 1 year contracts. For 20 MHS contract you will no longer have to pay $1380 USD, but $880 USD instead and for 100 MHS cloud mining Scrypt contract the price is down from $5900 USD to $3900 USD. These prices are for 1 year mining contract and they include all of the fees associated such as for hosting, electricity and maintenance, so there is nothing extra that you need to pay. You can also get an extra 5% discount from the regular price by using the promo code CryptoMiningBlog5

With the current market conditions the only way for you to manage to break even on a small hashrate investment during the duration of the mining contract is if the price and network difficulty for Litecoin remains the same as it is at the moment for 1 year and we know that this is not going to happen. Putting a more reasonable number like 3-5% increase at the current price there is no chance to even ROI in a year with the 100 MHS contract where you get a lower per MHS price. If you are going to bet on an increase of the price of LTC as usual it is better to just buy Litecoins instead of investing in cloud mining service that does not give you promising result when you run the numbers over a mining calculator. As usual when you are considering to invest in either cloud or real mining hardware do your math carefully and then decide if it is worth to go for it or not…

You can check the Scrypt and SHA256 cloud mining services offered by Genesis Mining here…

hashnest-current-price-hashrate

Yesterday we’ve told you about the new announcement coming from Bitmain about their acquisition of the Snowbal.io service that is now called Hashnest and about their plan to start selling cloud mining hashrate via the new platform. They have already started selling the initial offering of 4 Petahashes worth of hashrate powered by AntMiner Bitcoin ASIC miners today and we have already purchased 100 GHS to try out the service. Initially the price per GHS was supposed to be 0.0016 BTC, but it has apparently been lowered to 0.00135 BTC making the offer more attractive even though the maintenance fee is still at about 37 percent which is a bit higher than we would want to see it. But since the maintenance fee is quoted in USD per GHS with increase of the Bitcoin price the fee percentage should get down to a more acceptable level. With the new price per GHS and the current maintenance fee with a more moderate 10% average increase of the Bitcoin network hashrate you can expect to see a ROI in less than 8 months, not that great, but not too bad either, especially compared to some other recently launched alternatives that we’ve covered. So while not great profitability wise, that offer does not seem that bad either compared to many of the available alternatives and even compared to the initially announced higher price per GHS. The hashrate you purchase will be valid and mining for as long as the mined coins are more than the fees collected by the service, so the downside could be if the hashrate you purchase becomes unprofitable in less than 8 months.

hashnest-100-ghs-status-table

We have purchased 100 GHS for 0.135 BTC just to test out the service and to give out some firsthand experience. It seems that Hashnest does need to do some more translation in English and improve the translation of some of the already translated in English texts. Also the statistics you get is not very detailed and the graphs for the hashrate are not for your own hashrate, but for the overall hashrate of the cloud mining contracts offered through the platform from the provider UMISOO. So currently the Miner Status page is not very informative apart from the data in the table you get about your purchased hashrate and the “Unassigned Earnings” which apparently is the amount you have mined so far. Other than that you should know that in order to purchase Bitcoin mining hashrate from Hashnest you should first deposit Bitcoins in your account and then you can pay with them for hashrate. The confirmation of the transaction and the availability of the Bitcoins in your account is pretty fast and after you have them in your balance the purchase and allocation of the paid hashrate apparently happens instantly. We’ll see how the service will continue to evolve, but it seems that it needs some work on the user stats for the new cloud mining functionality and the rest is apparently already working quite well.


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