Genesis Mining With New Lower Prices and Lifetime Contracts

11 Sep
2014

genesis-mining-new-bitcoin-prices

The cloud mining service Genesis Mining has just announced new lower prices for its Scrypt and SHA-256 cloud mining options as well as an upgrade from 1 year contracts to lifetime ones. The service has just recently added Bitcoin cloud mining option to the already available Scrypt cloud mining, but the initial prices were not very attractive it has also recently lowered the prices for Scrypt hashrate, but the new prices are even more attractive. In fact they are among the best offered at the moment among cloud mining services and you should be aware of the fact that the prices listed are for lifetime contracts. Starting with Bitcoin cloud mining prices, you can now get 10 GHS hashrate for $9.99 USD (down from 29 USD) or less than a dollar per gigahash, 1 THS for $989 USD (down from 2499 USD) and 10 THS for $9790 USD (down from 21499.5 USD).

genesis-mining-new-scrypt-prices

This bring us to the new prices fot he Scrypt cloud mining that are also final with no extra fees required to be paid and with lifetime contracts, just like the Bitcoin contracts are. With the new lower prices you can get 1 MHS of $17.99 USD (down from 49 USD), 20 MHS for $339 USD (down from 880 USD) or 100 MHS for $1499 USD (down from 3900 USD). While these prices are really looking quite good for the moment and may offer faster ROI, you should still carefully do the math when investing in cloud mining hashrate and then decide if you should go for it or not. With Bitcoin the predictability is easier and you know what you might expect in the future in terms of increase of the network hashrate, however it is already quite hard to mine BTC and the time required for a return of investment before starting to make a profit is longer as compared to Scrypt cloud mining. However investing in Scrypt cloud mining is riskier as it is harder to predict what will happen with the total network hashrate in the next few months, as an example the last month or so the network difficulty has remained pretty stable at one level.

There is also a special bonus, a promo code “CryptoMiningBlog5” that will give you an extra 5% discount on every purchase, valid for both Scrypt and SHA-256 cloud mining hashrate at Genesis Mining, making the prices even more attractive. So if you still haven’t checked the service out, then you might want to do so with the new lower prices that actually make more sense and the mining contracts upgraded from 1 year to lifetime validity.

Update: It seems that the part with “No hidden fees” and everything being included in the price is no longer true for Genesis Mining, that was something written on the price and key features page, but now it is missing after the new price and contract validity updates and apparently there is a reason for that. Taking a look at the service agreement when purchasing hashrate you will see a point where apart from the price you pay for the hashrate upfront, there is now a part about an additional daily fee for the hashrate you have available, below is a quote:

BTC
As a consideration for the Services the Customer agrees to pay to the Service Provider an amount of (the “Fee”):
a. 0.996 USD per GH/s upfront
b. 0.01 USD per 5 GH/s and day, deducted on a daily basis* from the generated Coins

LTC
As a consideration for the Services the Customer agrees to pay to the Service Provider an amount of (the “Fee”):
a. 0.01804 USD per kH/s upfront
b. 0.08 USD per MH/s and day, deducted on a daily basis* from the generated Coins

* if, on any day, Coins generated on one day do not suffice to pay item 2 of the Fee above, the Service Provider may use Coins generated on any day thereafter for such payment.

The additional point about the extra fee deducted from coins mined in the future if the hashrate you have purchased no longer mines enough to even cover the fee is what gives us a bit of confusion. With such condition and lifetime contract duration there should be a clear clarification what a lifetime duration is considered and in the case of the purchased hashrate not being able to mine enough coins to even cover the fees, then the contract should be terminated as apparently there is no point in continuing it any further. The way the service is supposed to handle things in such situation is to stop after the payout is 0 for 20 days (fees are higher than mined outputs).

– You can check the Scrypt and SHA256 cloud mining services offered by Genesis Mining here…

How to Revive Your ZeusMiner Scrypt ASIC at the End of This Year

9 Sep
2014

zeusminer-gen3-upgrade-boards

Zeus has come up with an interesting new upgrade program for the owners of their ZeusMiner Scrypt ASIC miners that is supposed to allow users to make their current miners more up to date and profitable again at the end of the year. If you have purchased a previous generation ZeusMiner you are able to pre-order ZEUS GEN III chip Blades that you can use to replace your existing boards and make the miner much more powerful in terms of hashrate while fitting in the same power usage limit as your current hardware. You are going to essentially use the cases and cooling radiators and fans of your existing hardware and only replace the chip boards with the same modules that the recently announced ZeusMiner Volcano will be using.

The prices for the upgrade boards are quite attractive at the moment and they should not be very expensive to ship, because you will not be getting a whole miner with the big size and weight due to the case and cooling. ZeusMiner distributors such as MinerEU are also accepting pre-orders for the Generation 3 upgrade boards as well as the Volcano Scrypt ASIC. What you should know however is that these upgrade boards should be available and start shipping sometime by the end of December. If Zeus manages to keep their promise on the specifications they have announced the upgrade boards will most likely be a great way to revive your Scrypt ASIC as it may be a bit outdated in terms of performance by the end of the year. So while pre-orders could be risky, at this point of time the upgrade offer from Zeus does seem quite attractive to owners of ZeusMiner Scrypt ASIC devices.

New ccMiner Fork with Blake-256 Algorithm Support Now Available

8 Sep
2014

ccminer-blake-256-support

There is a new ccMiner fork for Nvidia GPUs that brings support for the Blakecoin (Blake-256) as well as other new algorithms and crypto coins supported in ccMiner. The new fork by user tpruvot on Github (source) supports not only the standard crypto currencies available in the official ccMiner but also BlakeCoin (256 8-rounds), NEOS blake (256 14-rounds), X14, X15, X17, WHIRL etc. The miner also adds some color options to make the output easily readable, instead of outputting everything as white text on black background. The precompiled Windows binary seems to work pretty well, though we’ve had some trouble using it on a system with two GPUs, but specifying a device option for each and running separately on GTX 780 Ti and GTX 750 Ti had no problems.

Do note that the source of this ccMiner fork is made to be compiled with CUDA 6.5 and Visual Studio 2013, though it can also be compiled on Linux, the binary releases available for Windows will also require you to have the most recent version of the Nvidia GPU driver in order to use them. You will need to download and install the latest GeForce 340.72 driver that brings support for CUDA 6.5 (if you are using older driver version), otherwise the miner may not function. The official binary release of the miner does come precompiled for Compute 3.0 and Compute 5.0, so it will not work on older video cards.

– To download the latest ccMiner binary release 1.4.1-tpruvot for Windows OS (CUDA 6.5)…

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