Posts Tagged ‘Genesis Mining Bitcoin

It seems that due to the peak of price and interest in Bitcoin (BTC) even the largest cloud mining companies like Genesis Mining are having trouble securing enough mining equipment in larger quantities fast in order to satisfy the growing demand. The company has started a limited pre-sale of Bitcoin cloud mining contracts with mining expected to start on 28.02.2018 or roughly more than 3 and a half months from now when you can purchase hashrate. As a regular customer if you want to purchase a Bitcoin mining ASIC from Bitmain you would still need to pre-order with current batches scheduled for early 2018 shipping as well, though you can manage to find some overpriced Antminer S9 units in stock currently for sale as well. Unfortunately alternatives to Bitmain such as Canaan’s AvalonMiner 741 are also out of stock at the moment and that goes even for the less know and popular Ebit E9 miners as well.

Securing Bitcoin mining hardware or even cloud mining contract for such seems to be not so easy at the moment, and even the GPU mining craze from earlier this year has calmed down and profits through altcoin mining and selling for BTC are not as high and attractive for many users. Aside from Bitcoin cloud mining hashrate the company is also selling Ethereum cloud mining contracts with immediate start and the same goes for Monero and Zcash mining contracts. Currently DASH and Litecoin mining contracts are not available, though we would be extra careful with DASH specially due to the inflow of many new X11 ASIC miners on the market and difficulty skyrocketing on a daily basis. Litecoin has been more active lately and things are moving there as well and the user interest is higher in mining capacity for Scrypt ASIC miners as well as even for cloud mining options.

If you are interested in checking out the current cloud mining offers of Genesis Mining…

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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!


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