All About BTC, LTC, ETH mining as well as other alternative crypto currencies
Litecoin (LTC) is one of the oldest altcoins and it is still alive, although soon after the first wave of Scrypt ASIC miners appeared the interest and numbers of users mining the crypto has started diminising. You can say that LTC was in a bit of a slumber pretty much everywhere besides China at least until a few months ago when Innosilicon has finally released their A4 Dominator Scrypt ASIC miners. So the last few months things have started to move a bit once more and the development of Litecoin has also been a bit more active with SegWit support getting ready to be implemented as well.
The early Innosilicon A4 Dominator Scrypt ASIC miners apparently had some issues according to users that got the devices and they are still being offered, though with the upcoming Chinese new year there could be some delays if you purchase now. The A4 Dominator is supposedly offering 280 MHS hashrate with 1000W power usage and is available for a price of $1800 USD. You will need to get a power supply for the device separately as it is not included in the purchase price of the miner.
Interestingly enough with the increase of the interest in Litecoin (LTC) you can now again purchase Scrypt cloud mining hashrate for mining Litecoin from Genesis Mining. The cloud mining company has been offering Scrypt cloud mining contracts before, but stopped doing so quite some time ago and it now brings back the contracts again. One can easily assume that their new offers are most likely based on A4 Dominators and the pricing is pretty good as an alternative to purchasing the hardware yourself.
You can get 2 MHS Scrypt cloud mining hashrate for $28 USD, 50 MHS for $650 USD of 200 MHS for $2400 USD as a preset packages or any custom hashrate in between. The Scrypt cloud mining contracts are with a duration of 2 years and there is no maintenance fee, everything is included in the price you pay for the hashrate. You can also use our special discount code CryptoMiningBlog5 to get some extra discount and get even better price should you decide to purchase a Scrypt cloud mining contract.
Today we did some calculations to see what is the actual profit that we are getting from various Bitcoin and Litecoin cloud mining services based on the earnings from yesterday. We’ve used 1000 GHS or 1 THS as a base for Bitcoin cloud mining and 1 MHS as a base for Litecoin cloud mining so that we can compare the different services listed below. The list does not contain all of the cloud mining services we are using as some of them are not even worth mentioning as there is no much point in investing in them with their current prices for hashrate. Also some other services are not listed as we are having trouble to accurately figure out how much we have earned exactly for the last 24 hours. Do note that the numbers listed below at the actual coins mined for 24 hours with maintenance fees already deducted, so this is what you are actually be getting per day (based on yesterday’s payments). Do note that the list below is based only on the actually profit that the services provide, it does not take into account the price of the hashrate that each of the services currently has.
BTC Earnings for 25.11.2014 per 1000 GHS:
– Bitcoin Cloud Services BTC – 0.01248 BTC per THS Daily (1 THS price – 1.5 BTC)
– Genesis Mining BTC – 0.00964 BTC per THS Daily (2.114 BTC – $779 USD)
– PBMining BTC – 0.01117 BTC per THS Daily (1 THS price – 1.4 BTC)
– Hashie BTC – 0.00739 BTC per THS Daily (1 THS price – 1.2 BTC AMHash / 1.30403 BTC Gen1)
– ZeusHash BTC – 0.00642 BTC per THS Daily (1 THS price – 1.5315 BTC)
– Hashnest BTC – 0.00548 BTC per THS Daily (1 THS price – 1.125 BTC)
– CEX BTC – 0.00317 BTC per THS Daily (1 THS price – 1.6914 BTC)
LTC Earnings for 25.11.2014 per 1 MHS:
– Genesis Mining LTC – 0.01143 LTC per MHS Daily (1 MHS price – 5.02 LTC / $17.99 USD)
– ZeusHash LTC – 0.00423 LTC per MHS Daily (1 MHS price – 4.47 LTC / 15.99 USD)
We are not including GAW’s Hashlets as we have actually sold ours a few days ago and are currently waiting to see what new things we are going to be getting announced in the next days – PayBase, HashStaker and PayCoin. It is also interesting to note that Hashnest has apparently introduced a market for users to trad the UMISOO Bitcoin cloud hashrate that they have purchased, so you get an interesting opportunity to sell some of your hashrate at a good price or maybe buy more cheaper to possibly reach ROI faster, though the service does not currently perform so great based on actual earnings and only CEX is performing worse in our list. ZeusHash is currently not doing very well for both BTC and LTC, even though they try to attract users with various incentives and promotions all of the time, their main problem is the higher maintenance fees. Genesis Mining remains as one of the best and choices in terms of profitability, especially for people that might have some concerns about services such as PBMining or BTCCS. Also note that the numbers for some of the services might be slightly higher that what we are actually getting, for example Hashie with AMHash contracts only would get slightly better results as we have mixed hashrate with their Gen1 and AMHash hashrate, CEX also supports merged mining and the number we have above is only for the BTC earnings and does not include the merged coins.
Recently we’ve been contacted by a new cloud mining service called Chabat Mining, and we’ve already seen it before that, but wanted to give it some more time before actually checking it out. In our experience so far with some new cloud mining services that have later on turned out to be scams, most of them are usually gone in a month, so when we see a new one appear we are approaching it more careful. This is especially true when the service operators want to remain pretty much anonymous and do not provide a lot of information on their website about their mining operation, so doing a bit of research is a good idea. The website has been registered on August 20th and the first news on the website appear to be published on 26th, Archive.org has a snapshot of the website from September 22nd. We’ve actually found out about this website about a month ago, so we’ve decided to give it a go and try out the service since it is apparently still here.
Being contacted by the operators of the service gave us the opportunity to ask a bit more information about the service and their mining operation. It seems the people behind Chabat Mining are from France, however their mining operation is based in Bangalore, India in order to take advantage of cheaper workforce and electricity there, or so we were told. We were sent the photo above as a proof of their mining operation, a not very clear image of a data center and the Litecoin mining equipment the service says they use is custom built based on 28nm ASIC chips. According to the statistics available on the main page of the service they operate a 14 GHS Litecoin mining farm out of which a little over 1000 MHS (1 GHS) are currently available for customers.
What makes this service seem very attractive is the price they currently offer for their mining contracts, currently 10 MHS Litecoin Scrypt mining power will cost you $88 USD (were $85 earleir today when we have purchased a contract). The mining contract duration is 1 year with no maintenance fees, though apparently after that the contract continues with some fees – $0.08 USD per MHS for another year or three (not made very clear on the website). There is also a future contract available for pre-order where 10 MHS will cost you $69 USD, but the mining for that one will start at the end of the year, so not that much attractive. The service uses CoinPayments as a payment processor for paying with either BTC or LTC for the hashrate, but there is also an option to pay with PayPal, not something we often see with cloud mining services nowadays. The payments are automated and ran every 6 hours if you have mined an amount larger than 0.1 LTC (Payments are only in LTC), otherwise the mined Litecoins will be sent once you have accumulated more than 0.1 on the next payment schedule. Our purchase of 10 MHS hashrate (order number a little over 100) that we use for testing the service went smooth and fast and pretty much within 30-40 minutes we got the hashrate available in our account and mining coins, though it could take some more time.
The user account control panel and the mining information available is not the best we’ve seen, but it provides you with the most important information to help you keep track of your mining and calculate profitability and expected ROI time. If the current conditions for Litecoin remain the same you might be able to ROI in about 4 months with the current low prices and difficulty that has been showing pretty moderate increase for quite some time already. This is just a rough estimate however as it is really hard to predict what can and will happen in the next 4 months with Litecoin, but considering that some alternative services offer significantly higher prices for hashrate this deal might not be bad at all. Of course there is always some risk and the better the deal, the higher the risk usually is, so as usual we advice caution, start small and do not spend more than you can afford to loose. We’ve purchased 10 MHS hashrate and will continue to test the service and report our experience over time, so you can keep an eye out on how things develop further. Meanwhile, if you are interested in trying out the service you can use the link below to register, as following it you will get a 3% promo code for your first order, so even better price per MHS. Do note that once you register and add a contract in your Cart you will see the 3% discount code shown in the Cart, but you need to copy and paste it in the Coupon Code field and click on the Apply Coupon button in order for the code to be activated for your purchase… it will not be activated by default, just displayed for you to use it!