All About BTC, LTC, ETH mining as well as other alternative crypto currencies
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.
It has been a month already since we have purchased a 100 GHS Bitcoin cloud mining contract at Lunamine, the service that probably has the current lowest price per GHS for BTC cloud mining. For our 100 GHS BTC mining contract we’ve had to pay 0.25234804 or a little over 0.0025 BTC per GHS and currently the price is still pretty much the same just some hours before another network difficulty increase. For the past month we have mined with our 100 GHS we have already reached almost 33% return of the initial investment in the hasrate, definitely not bad for just a month of mining. Because of the steady increase in the Bitcoin network hashrate it will not be just 3 months for the full ROI, but more like 4 months, depending on the speed of difficulty increase, but even 4 months is not bad at all. Thought he actual profit after that will not be very big for our 100 GHS as long as the mined coins are more than the fee for electricity at the service the mining contract will continue to run. And we’ve already calculated that it will take at least 8 months if the price remains the same and the difficulty increases with about 10% at each readjustment, so probably the lifetime of 100 GHS contract will be about a year. If you get more hashrate however the lifetime of the contract will be even longer. Do note that this service is still very new, so we still advice caution if investing in it and as usual a word of warning – do not invest more BTC than you can afford to loose.
It is about time for us to do a quick report on the latest Bitcoin cloud mining services that we have started using and reviewing – Bitcoin Cloud Services and Lunamine. These two services are still very new, but they do look promising and are very attractive because of their very low prices per GHS even compared to other similar services with very low prices such as PBMining, let alone to other typically more expensive services such as CEX.io and other even more expensive services. It is normal that users want to get the best price per GHS from a cloud mining service in order to ensure a fast ROI and then get to the part where they actually make profit from their investment. So new services with very attractive prices do generate a lot of interest, however this also raises some concerns, especially if the people behind the specific cloud mining service do not wish to reveal much about their mining hardware and operation. This is precisely why we do always recommend to start small when you are testing a new cloud mining service and never invest more than you can afford to lose in case things turn out bad and the service turns out to be a scam… and we’ve already seen quite a few of these. Let us get back to the new Bitcoin cloud mining services that we have recently started testing…
Today we’ve passed a little over a month using the Bitcoin Cloud Services and the good news is that the service is still here and still pays daily. They do offer 5 years long contracts with no extra fees associated with the hashrate you purchase, currently the price of 1 GHS worth of Bitcoin cloud mining hashrate is 0.0028 BTC with a minimum order of 40 GHS or in order to check it out you need to invest a minimum of 0.112 BTC. The main disadvantage that the service still has is that there is still no history for all of the payments you have received and there is no information available for the total mined coins since you have started the mining contract. This makes it very hard to actually calculate the numbers as you only have the amount of the last daily payout available and these numbers do change with the change in difficulty of the Bitcoin network. Other than that things seem to be running smooth so far, you can check our detailed review of Bitcoin Cloud Services from the last month for some more details about the service.
The second service that we have started testing a little over 20 days ago – Lunamine, though the service itself is pretty much a month old already, is also still here and running just fine. The approach here is slightly different, there is no defined time for the contract, instead it runs for as long as the hashrate you have purchased is actually profitable – the mined coins minus the electricity cost is higher than zero. The minimum contract you can get here is 100 GHS for $150 USD or about 0.2551 BTC (~0.0025 BTC per GHS) or the more attractive price wise 1THS contract available currently for $1300 USD or 2.2108 BTC. Even though we’ve been testing the service for shorter time we’ve seen quite a lot of improvement in terms of the control functionality such as the ability to reinvest the mined coins for additional hashrate. The user control panel here is also more detailed and offers clear information about the total mined coins since the start of the contract as well as history about the withdraws you have made so far. The payment here is not automated, you need to request a payment to be made to you for any amount from your account balance. You can check our detailed review of Lunamine from the earlier this month for some more details about the service.