All About BTC, LTC, ETH mining as well as other alternative crypto currencies
The cloud mining service Mining Sweden is a relatively new entry in the world of Bitcoin cloud mining services, but it is a service that seemed promising when we started testing it back in May. A small mining operation that wanted to grow along with the users that support it by nit just selling hahsrate, but also a kind of shares that will bring dividends to users aside of the mining profits. The idea was apparently to use the extra cash from the sales of VIP shares for growing the mining farm by purchasing more mining hardware, a good idea if it is not the only option you get. The problem with the service however is that they have stopped offering regular mining hashrate only and are offering only more expensive hashrate that comes along with VIP shares. Now, paying for more expensive hashrate is not something many people are willing to do with just a promise of additional unknown extra profit from the VIP shares in a year. In our opinion this is actually preventing the service from growing faster than actually helping it, especially now after we’ve been using it for some time.
We have purchased 150 GHS worth of hashrate with some VIP shares and so far we are happy with the results, note that the price of the hashrate also includes all maintenance fees for 1 year, so in theory with a good additional dividends coming from VIP shares when the mining contract is over it should result in a good profit. The problem is only that “it should” and nobody knows for sure what to expect as an extra profit from the VIP shares, precisely one of the reasons that is keeping us from investing in more hashrate. That of course does not stop the service operators to try and offer more attractive options for hashrate packs, but as we’ve said normal mining hashrate hasn’t been available for a while. The latest offerings include a package of 10 VIP shares with 100 GHS hashrate for $122.40 USD (you can get a 10% discount of the regular price wiht the promo code ms10), 50 VIP shares with 500 GHS hashrate for $745 USD or 100 VIP shares with 1000 GHS for $1090 USD (you can get a 20% discount of these prices with a promo code ms20). So if you are interested you might want to check out the new deals available and take advantage of the additional discounts via the promotional codes.
Mining Sweden is a relatively new Bitcoin cloud mining company that has apparently been started earlier this year and as the name implies it is based in Sweden, a still smaller mining operation that wants to expand further. The approach that the service has is a bit different as compared to most other cloud mining operations by offering shares and they want to be transparent and open to users regarding their mining operations. The company has published numerous photos and some videos of their mining operation as well as other proofs of the mining hardware they rely on which is supplied from Bitmain and Spondoolies Tech apparently. They have started with a smaller mining farm with the idea to increase the size also looking for help from users and offering to share their profits with people that decide to believe in them and invest. So far the service does look interesting and quite promising based on our first impressions and we have decided to give it a try…
As a customer, instead of buying hashrate directly, you are buying it the form of shares and you have two different options available. One is mining shares where 1 Mining Share is equal to 1 GH SHA-256 hashrate for a price of $0.69 USD and the price includes all fees for 12 months. The second option is in the form of VIP shares that are limited in number (100,000 Shares total) available at a price of $8.79 USD and for that price you get 5 GHS per share and a share of the company’s profits. The idea of the VIP shares that are a bit more expensive than mining only shares is that you actually become a kind of investor in the company – you help them increase the mining power and you get extra profit in return. So miners interested in faster ROI can get Mining Shares and more serious investors interested in longer term investment can go for the VIP Shares.
As usual we are starting with a smaller investment as with other cloud mining companies that we are testing, so we have decided to purchase 100 GHS worth of shares in hashrate and go for the VIP shares, though we will most likely also invest in some Mining Shares only at a later time if things are looking good. Mining Sweden supports payments with PayPal and Bitcoin, Litecoin, Paycoin, Dogecoin, Darkcoin, Feathercoin or Vertcoin in the form of crypto currencies. We have even found a working discount code for the service that will provide you with an extra 10% discount from the regular prices – just enter ms10 during checkout, so you can take advantage from it as long as it lasts. The usual word of warning for cloud mining services also goes here – do not start big and don’t invest more than you can afford to loose.