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cloud-mining-services

It is time to do a roundup of how things are moving with the cloud mining services that we are currently using, testing or are planning to check out and especially compare the current prices that they are offering. Buying physical ASIC miners for both Bitcoin (SHA-256) and Litecoin (Scrypt) might not be that good of an idea at the moment with the currently offered hardware and the performance it offers. The current market prices for Bitcoin and Litecoin are also not that appealing at the moment making it not so good for investment in mining hardware or cloud mining as well. With cloud mining services however you should also be careful as some do not offer so good terms and prices, so there is risk involved not only in buying ASIC miner hardware, but also when investing in a cloud mining service. As Litecoin and Bitcoin, as well as other crypto currencies using the same algorithms, get harder to mine cloud mining is becoming more attractive, but only at the right price and with the right terms. We’ve seen offers that have prices and terms making it essentially like throwing your money in the trashcan, but there are sometimes new companies that come with very attractive offers that soon turn out to be scams. So you should be extra careful with these, we’ve seen quite a few of these already and have started testing some of them just to find out that in a few weeks they disappear with the customers cash or coins invested. That is why we like to go for services that have been available for a while, at least a month or so, and we do recommend extreme caution with new services that have just appeared out of nowhere and are not backed up by someone with a decent reputation being around in the crypto community for some time (not that even this will offer 100% guarantee). The same goes for new companies that popup out of nowhere and start offering some new revolutionary ASIC miners. The time for long term pre-orders of mining hardware is pretty much over now as many people do not want to take that risk anymore.

Bitcoin cloud mining services:
Bitcoin Cloud Services – 0.0020 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic daily payouts
Genesis Mining – 0.00253 BTC per GHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.001 USD per 1 GHS daily fee, automatic daily payout
PBMining – 0.0022 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic weekly payout
GAW Miners – 0.00253 BTC per GHS, unlimited contract, $0.002 USD per 1 GHS daily fee, option to sell hashrate, manual payouts
Hashnest – 0.00135 BTC per GHS, unlimited contract, $0.00325 USD per GHS per day (~55% fee currently)
CEX.io – 0.00229 BTC per GHS, indefinite, $0.0035 USD per 1 GHS daily fee, manual payout, has an exchange to trade hashrate

Litecoin cloud mining services:
ZeusHash – 0.0406 BTC per MHS, 1 year contract, no extra fees, automatic payout every 4 days
Genesis Mining – 0.0456 BTC per MHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.08 USD per MHS daily fee, can choose to mine altcoins, automatic daily payout
Scrypt.cc – 0.0894 BTC per MHS, unlimited contract, no extra fees, has an exchange to trade hashrate
GAW Miners (Zen Hashlet) – 0.0531 BTC per MHS, unlimited contract, $0.08 USD per MHS daily fee, option to sell hashrate, manual payouts

As you can see we have some additions since our last post comparing the cloud mining prices as well as some services removed such as Hashop, Cloud Hashing and CoinTerra as these do not offer prices worth to even consider at the moment. We have not included KNC Cloud as well even though their latest Bitcoin cloud mining offers does seem attractive, however we are still unable to purchase any hashrate from the service due to some unknown location limitations. Genesis Mining, GAW Miners and ZeusHash are new additions with interesting offers based on their latest prices, so is Hashnest, but with that service as well as with CEX the maintenance fees are very high even though the prices of the hashrate may be attractive, so you should be careful. As competition heats up, especially in Scrypt could mining, we are probably going to see some new interesting offers and even better prices pretty soon. Do note that some services list their prices in USD and not in BTC, so we’ve used the current Bitcoin exchange rate of $394 USD to have all of the services listed in Bitcoin prices and a significant change in the price of Bitcoin may affect the prices of some of the services. Also unlimited contract does not mean forever, but instead means for as long as the mined coins are more than the maintenance fee you need to pay or with other words as long as you get some profit from your hashrate.

cloud-mining-services

It has been over a month since we’ve published a price comparison of the Bitcoin and Litecoin cloud mining services that we are using, testing or seem like a good option, as well as some that are probably not going to ever ROI for the term of their contract with the current difficulty and price, so that you can compare the different options better. Also it seems that there are still not that many easy to use Scrypt cloud mining services available and with the exchange rate of LTC going down it is getting interesting as it seems that most Scrypt ASIC hardware manufacturers are already moving to start providing cloud mining services as well.

Bitcoin cloud mining services:
Bitcoin Cloud Services – 0.0028 BTC per GHS, 5 years, no pool fee, no maintenance fee
PBMining – 0.0029 BTC per GHS, 5 years, no pool fee, no maintenance fee
CEX.io – 0.0036 BTC per GHS, indefinite, no pool fee, has maintenance fee
Hashop.io – 0.0069 BTC per GHS, 2 years, no pool fee, maintenance electricity fee
Cloud Hashing – 0.00875 BTC per GHS, 1 year contract, pool and maintenance fees
Cointerra Mining – 0.00876 BTC per GHS, 1 year contract, pool and maintenance fees

Litecoin cloud mining services:
Scrypt.cc – 0.11199 BTC per MHS, indefinite, no pool fee, no maintenance fee
Genesis Mining – 0.138 BTC per MHS (5% off with promo code CryptoMiningBlog5), 1 year, no pool fee, no maintenance fee

And a word of advice about Lunamine, it seems that the service has the lowest price per GHS, however in the last few days withdraw requests have not yet been processed and since this is still a very new service you should be careful should you decide to invest there! Also note that lately CEX has reached a lower and more attractive price with lowered maintenance fees and the other advantage is the exchange where you can trade your hashrate, ScryptCC also has an exchange where you cans ell your purchased hashrate, unlike with the other services. Cointerra and Cloud Hashing are still keeping higher prices that do not get updated with the increase of the BTC network difficulty, so they still do not seem that attractive with their expensive 1 year contracts compared to other services, even though with them you should not worry about possible scams.

bitcoin-current-network-difficulty

We have decided to do a quick roundup of the current Bitcoin cloud mining prices you can find with various service providers that we have tested or covered so far. We are not covering Scrypt cloud mining services this time as currently the Litecoin difficulty is high and price, along with the price of most other Scrypt crypto currencies is currently quite low, so it might not be the best moment to invest in Scrypt at the moment. While at the same time the Bitcoin price is quite nice at the current level, though the network difficulty has been steadily increasing as well. We have decided to have two categories, one for the typical cloud mining services an the other for the hashrate renting services as an alternative for short term investment in more hashrate. Do note however that renting hashrate or mining rigs to mine Bitcoins for you with Bitcoins might not be the wisest idea.

Typical BTC cloud mining services:
Bitcoin Cloud Services – 0.00290000 BTC per GHS, 5 years, no pool fee, no maintenance fee
PBMining – 0.00300143 BTC per GHS, 5 years, no pool fee, no maintenance fee
CEX.io – 0.00682705 BTC per GHS, indefinite, no pool fee, has maintenance fee
Cointerra Mining – 0.00775 BTC per GHS, 1 year contract, pool and maintenance fees
Hashop.io – 0.00844000 BTC per GHS, 2 years, no pool fee, maintenance electricity fee
Cloud Hashing – 0.0116375 BTC per GHS, 1 year contract, pool and maintenance fees

Hashrate renting mining services:
Nice Hash – 0.00002620 BTC per GHS per Day (current)
Mining Rig Rentals – 0.00003490 BTC per GHS per Day (current), cheapest 0.00003 BTC


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