Archive for the ‘Cloud Mining’ Category

Hashnest Still Has ~2 PHS of Bitcoin Cloud Hashrate to Sell

3, Oct 2014

hashnest-new-hashrate-prices

It seems that Hashnest, Bitmain’s Bitoin cloud mining platform, is having trouble to sell their initial 4 Petahashes worth of Bitcoin hashrate even though they have recently lowered the price per GHS down to 0.001125 BTC from 0.00135 BTC. They still have almost 2 PHS unsold and the reason for that is very simple – with the current BTC price the maintenance fees you need to pay are about 60% of what you are mining with your purchased hashrate. The new lower price was apparently not the only countermeasure they have taken, as we have received 20% increase in our initial purchase of 100 GHS to try out the service when it was announced early last month. We have not seen any official announcement or received anything by email about the increase of the hashrate, but it seems that this is some kind of bonus…

The hashrate we have purchased on 2nd of September was 100 GHS for 0.135 BTC and now, a month later, we are checking how things are progressing with our earned coins for this whole time. What we have earned until 2nd of October in our wallet is 0.0318239 BTC or a bit short of 1/4th of the amount we have paid for 1 month. That however does not mean that we are going to be able to ROI in three more months, because of the constantly increasing network difficulty it will take more time than that, especially if the fees continue to remain as high as they currently are. So at the moment it may not be a wise idea to invest in cloud hashrate at Hashnest and people apparently are aware of that as the service is having trouble to sell the second half of their initial offering of 4 PHS Bitcoin cloud mining hashrate powered by Bitmain AntMiner S2 ASIC miners.

Up to Date Prices of SHA-256 and Scrypt Cloud Mining Services

26, Sep 2014

cloud-mining-services

It is time to do a roundup of how things are moving with the cloud mining services that we are currently using, testing or are planning to check out and especially compare the current prices that they are offering. Buying physical ASIC miners for both Bitcoin (SHA-256) and Litecoin (Scrypt) might not be that good of an idea at the moment with the currently offered hardware and the performance it offers. The current market prices for Bitcoin and Litecoin are also not that appealing at the moment making it not so good for investment in mining hardware or cloud mining as well. With cloud mining services however you should also be careful as some do not offer so good terms and prices, so there is risk involved not only in buying ASIC miner hardware, but also when investing in a cloud mining service. As Litecoin and Bitcoin, as well as other crypto currencies using the same algorithms, get harder to mine cloud mining is becoming more attractive, but only at the right price and with the right terms. We’ve seen offers that have prices and terms making it essentially like throwing your money in the trashcan, but there are sometimes new companies that come with very attractive offers that soon turn out to be scams. So you should be extra careful with these, we’ve seen quite a few of these already and have started testing some of them just to find out that in a few weeks they disappear with the customers cash or coins invested. That is why we like to go for services that have been available for a while, at least a month or so, and we do recommend extreme caution with new services that have just appeared out of nowhere and are not backed up by someone with a decent reputation being around in the crypto community for some time (not that even this will offer 100% guarantee). The same goes for new companies that popup out of nowhere and start offering some new revolutionary ASIC miners. The time for long term pre-orders of mining hardware is pretty much over now as many people do not want to take that risk anymore.

Bitcoin cloud mining services:
– Bitcoin Cloud Services – 0.0020 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic daily payouts
– Genesis Mining – 0.00253 BTC per GHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.001 USD per 1 GHS daily fee, automatic daily payout
– PBMining – 0.0022 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic weekly payout
– GAW Miners – 0.00253 BTC per GHS, unlimited contract, $0.002 USD per 1 GHS daily fee, option to sell hashrate, manual payouts
– Hashnest – 0.00135 BTC per GHS, unlimited contract, $0.00325 USD per GHS per day (~55% fee currently)
– CEX.io – 0.00229 BTC per GHS, indefinite, $0.0035 USD per 1 GHS daily fee, manual payout, has an exchange to trade hashrate

Litecoin cloud mining services:
– ZeusHash – 0.0406 BTC per MHS, 1 year contract, no extra fees, automatic payout every 4 days
– Genesis Mining – 0.0456 BTC per MHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.08 USD per MHS daily fee, can choose to mine altcoins, automatic daily payout
– Scrypt.cc – 0.0894 BTC per MHS, unlimited contract, no extra fees, has an exchange to trade hashrate
– GAW Miners (Zen Hashlet) – 0.0531 BTC per MHS, unlimited contract, $0.08 USD per MHS daily fee, option to sell hashrate, manual payouts

As you can see we have some additions since our last post comparing the cloud mining prices as well as some services removed such as Hashop, Cloud Hashing and CoinTerra as these do not offer prices worth to even consider at the moment. We have not included KNC Cloud as well even though their latest Bitcoin cloud mining offers does seem attractive, however we are still unable to purchase any hashrate from the service due to some unknown location limitations. Genesis Mining, GAW Miners and ZeusHash are new additions with interesting offers based on their latest prices, so is Hashnest, but with that service as well as with CEX the maintenance fees are very high even though the prices of the hashrate may be attractive, so you should be careful. As competition heats up, especially in Scrypt could mining, we are probably going to see some new interesting offers and even better prices pretty soon. Do note that some services list their prices in USD and not in BTC, so we’ve used the current Bitcoin exchange rate of $394 USD to have all of the services listed in Bitcoin prices and a significant change in the price of Bitcoin may affect the prices of some of the services. Also unlimited contract does not mean forever, but instead means for as long as the mined coins are more than the maintenance fee you need to pay or with other words as long as you get some profit from your hashrate.

More Reasonable Bitcoin Cloud Mining Prices from KNCMiner

23, Sep 2014

kncminer-cloud-mining

Earlier this month when KNCMiner has announced their KNC Cloud mining plans the prices they asked were way too high to even consider investing in them as they offered no chance of ROI in the 6 months contract periods. Now, apparently after KNC has seen no user interest in their services they started offering a new and only one more reasonably priced Bitcoin cloud mining plan that may seem more attractive to users. The new Bitcoin cloud mining from KNC Cloud is for 400 GHS available for $249 USD with contract duration of 6 months, much better than the initial plan that offered 1 THS for $1995 USD again for 6 months.

So it seems that the new prices are about $0.6225 per GHS for 6 months and the old one was $1.995 USD or we are essentially seeing a more than three times lower price per GHS at the moment. Do note that these prices are for 6 month contracts, not for a year, so the yearly price would be double these numbers, and at this price you could actually consider to invest in some cloud mining hashrate at KNC. There are also no additional maintenance or electricity fees that you need to pay according to KNC. Running the numbers through a mining profit calculator shows that even at the current lower Bitcoin price you should be able to get a return of your investment in less than 6 months if the BTC price remains the same and the network dificulty does not increase with more than 10% each step in these 6 months.

We actually wanted to to try out the KNC Cloud service by purchasing a cloud mining contract at the new price, however we could not finish the purchase procedure for the cloud mining hashrate probably due to a problem in the KNC system that is apparently not properly configured to work with cloud mining hashrate yet. We could not get past the shipping method page even though shipping is not required for the cloud mining hashrate, no matter what we have tried (USA, UK even Sweden address and others) we ended up with a red message saying: “No shipping method available for this combination of products and shipping country“. So what we can say is do not bother with KNC Cloud as you probably will end up with the same error message trying to purchase cloud mining hashrate from them as apparently they are not willing to sell any to anyone. According to KNC “This offer is only available in select territories”, but which territories are actually supported and how that does even matter when you are selling cloud mining service and not a physical hardware?!


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