Posts Tagged ‘LTC cloud mining


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, 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!

For more information about the Litecoin cloud mining services offered by Chabat Mining…


This is something hat you normally would not expect to happen, to see the prices of cloud mining hashrate to increase instead to get down as time passes, but we are seeing this happening in the last days with more than just one service. Normally the price of cloud mining hashrate should decrease over time as the network difficulty increases and as better hardware becomes available (higher performance and lower power usage). It seems however that lately there is so much interest in cloud mining from users that the already available services are having hard time meeting the demand for hashrate. The normal result in this case is to temporary increase the price, so that the number of new users should be lower, at least until you get enough capacity in terms of mining hardware to cover the demand.

A good example is the GAW Miners Hashlet that has generated quite a lot of buzz when it was launched with a price of just $15.99 USD for 1 MHS worth of Scrypt mining hashrate. At this price per megahash it was really attractive option to invest into and the result was a lot of hashrate being purchased by miners. Apparently the demand from users was so high that the price has been increased first to $19.99 USD and then a second time a bit later on up to $24.99, a price that is over 55% higher and not that attractive anymore. This means 55% more time to ROI now as compared to the initial price that the early adopters got when buying Hashlets and in the world of mining this is really significant increase.

But it is not only GAW, another big cloud mining service, namely PBMining has also done something similar and unlike with LTC the Bitcoin difficulty does not temporary drop, but continues to steadily increase. Previously the service was selling 1 GHS hashrate for 0.0029 BTC, but their latest price has been increased to 0.0033 BTC. Not so significant increase as in the case above, but still going up by about 14% is not little and definitely not something that you would normally expect to see. This is actually the first time we are seeing an increase with that service and we’ve seen them stopping to take orders at times when the available hashrate from the supposed ASIC mining hardware in the backend has depleted.

Another similar example is the service called Bitcoin Cloud Services that has also increased the rate of their rate for 1 GHS worth of Bitcoin mining hahsrate. Their previous price was at 0.0026 per GHS, right after they were temporary out of stock for a bit and were not selling hashrate. Their current price however has been increased up to 0.0029 per GHS which is probably the most attractive Bitcoin cloud mining price that you can get at the moment.

With other cloud mining services such as for example there hasn’t been too much of a change, but there the price per GHS is driven by the users that trade on the website’s exchange. Of course because of that fact the prices there tend to be higher than on other competing services such as some of the ones mentioned already. Other services such as CloudHashing than tend to remain pretty expensive and don’t update their prices often are not having such problems, so that they don’t get the need to increase the prices further. All this however seems to point to the fact that there is an increased demand from users for cloud mining services, especially ones that actually can deliver relatively quick ROI and miners can thing about getting some profit investing in them. As a result we expect to see some more competition in the cloud mining services especially now when many ASIC manufacturers are also working on offering cloud mining services along with their new and upcoming mining hardware.