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Bitcoin Cloud Mining with Mining Sweden
15, May 2015
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.
– For more information about the service and to start cloud mining Bitcoins with Mining Sweden…
- Published in: Cloud Mining
- Related tags: bitcoin cloud mining, BTC cloud mining, cloud mining service, Mining Sweden, Mining Sweden Bitcoin cloud mining, Mining Sweden cloud mining, Mining Sweden coupon code, Mining Sweden discount code, Mining Sweden first impressions, Mining Sweden promo code, Mining Sweden review, Mining Sweden test
27.04.15 – 0.00104485 BTC
28.04.15 – 0.00102340 BTC
29.04.15 – 0.00103423 BTC
30.04.15 – 0.00103791 BTC
01.05.15 – 0.00102066 BTC
02.05.15 – 0.00105168 BTC
03.05.15 – 0.00104769 BTC
04.05.15 – 0.00103686 BTC
05.05.15 – 0.00099838 BTC
06.05.15 – 0.00057474 BTC
07.05.15 – 0.00060874 BTC
08.05.15 – 0.00059624 BTC
09.05.15 – 0.00063311 BTC
10.05.15 – 0.00060962 BTC
11.05.15 – 0.0058921 BTC
Notice that starting from 6th the daily profits here drop significantly, there is no mistake in the numbers, as we’ve already explained in our previous publication, the maintenance fee prior to that was apparently mistaken and only about 10% of what the actual fee should’ve been has been deducted from the mined coins.
30.04.15 – 0.00046600 BTC
01.05.15 – 0.00063100 BTC
02.05.15 – 0.00060000 BTC
03.05.15 – 0.00058000 BTC
04.05.15 – 0.00049000 BTC
05.05.15 – 0.00048500 BTC
06.05.15 – 0.00060000 BTC
07.05.15 – 0.00049000 BTC
08.05.15 – 0.00050000 BTC
09.05.15 – 0.00051500 BTC
10.05.15 – 0.00053000 BTC
11.05.15 – 0.00054000 BTC
12.05.15 – 0.00048000 BTC
Both services seem to be running smooth and problem free and provide pretty consistent results, though at the second one we see some peaks. These stable results in terms of actual profit are thanks to the quite stable network difficulty and price of Bitcoin lately and that makes it easier to do some estimates when things are more stable, though there are no guarantees if they will continue to be like that and for how long.
– For more details about the new cloud mining service HashFlare we are testing…
– For more details about the new cloud mining service GigaHash we are testing…
- Published in: Cloud Mining
- Related tags: bitcoin cloud mining, BTC cloud mining, cloud mining profitability, cloud mining service, cloud mining services, GigaHash, HashFlare
Time to report the actual profit we are getting after a few days of using the two new additions to the list of cloud mining services that we are using. The first one, HashFlare powered by HashCoins mining hardware is giving higher profit, but from the logs we are seeing it could be due to some mistake with the maintenance fee calculation (could be a bug in the service) as the fees do seem to be much lower than expected. Below you can see the daily actual profit (the mined coins minus the maintenance fee) we got for 100 GHS cloud mining hashrate purchased at the service:
27.04.15 – 0.00104485 BTC
28.04.15 – 0.00102340 BTC
29.04.15 – 0.00103423 BTC
30.04.15 – 0.00103791 BTC
01.05.15 – 0.00102066 BTC
02.05.15 – 0.00105168 BTC
03.05.15 – 0.00104769 BTC
The second cloud mining service, GigaHash apparently using Technobit miners, a smaller mining operation, has lower actual profit, but here the results seems more realistic. Do note that the actual profit you get from cloud mining services can vary depending on the BTC exchange rate as the maintenance fees usually covering electricity and such are fixed in USD, so with higher exchange rate the costs are getting smaller and the profit per GHS higher. Below you can see the daily actual profit (the mined coins minus the maintenance fee) we got for 100 GHS cloud mining hashrate purchased at the service:
30.04.15 – 0.00046600 BTC
01.05.15 – 0.00063100 BTC
02.05.15 – 0.00060000 BTC
03.05.15 – 0.00058000 BTC
– For more details about the new cloud mining service HashFlare we are testing…
– For more details about the new cloud mining service GigaHash we are testing…
- Published in: Cloud Mining
- Related tags: bitcoin cloud mining, BTC cloud mining, cloud mining profitability, cloud mining service, cloud mining services, GigaHash, HashFlare