Posts Tagged ‘cloud mining services’

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.

Cloud Mining Services Increase Prices Instead of Lowering Them

28, Aug 2014

cloud-mining-services

This is something hat you normally would not expect to happen, to see the prices of cloud mining hashrate to increase instead to get down as time passes, but we are seeing this happening in the last days with more than just one service. Normally the price of cloud mining hashrate should decrease over time as the network difficulty increases and as better hardware becomes available (higher performance and lower power usage). It seems however that lately there is so much interest in cloud mining from users that the already available services are having hard time meeting the demand for hashrate. The normal result in this case is to temporary increase the price, so that the number of new users should be lower, at least until you get enough capacity in terms of mining hardware to cover the demand.

A good example is the GAW Miners Hashlet that has generated quite a lot of buzz when it was launched with a price of just $15.99 USD for 1 MHS worth of Scrypt mining hashrate. At this price per megahash it was really attractive option to invest into and the result was a lot of hashrate being purchased by miners. Apparently the demand from users was so high that the price has been increased first to $19.99 USD and then a second time a bit later on up to $24.99, a price that is over 55% higher and not that attractive anymore. This means 55% more time to ROI now as compared to the initial price that the early adopters got when buying Hashlets and in the world of mining this is really significant increase.

But it is not only GAW, another big cloud mining service, namely PBMining has also done something similar and unlike with LTC the Bitcoin difficulty does not temporary drop, but continues to steadily increase. Previously the service was selling 1 GHS hashrate for 0.0029 BTC, but their latest price has been increased to 0.0033 BTC. Not so significant increase as in the case above, but still going up by about 14% is not little and definitely not something that you would normally expect to see. This is actually the first time we are seeing an increase with that service and we’ve seen them stopping to take orders at times when the available hashrate from the supposed ASIC mining hardware in the backend has depleted.

Another similar example is the service called Bitcoin Cloud Services that has also increased the rate of their rate for 1 GHS worth of Bitcoin mining hahsrate. Their previous price was at 0.0026 per GHS, right after they were temporary out of stock for a bit and were not selling hashrate. Their current price however has been increased up to 0.0029 per GHS which is probably the most attractive Bitcoin cloud mining price that you can get at the moment.

With other cloud mining services such as Cex.io for example there hasn’t been too much of a change, but there the price per GHS is driven by the users that trade on the website’s exchange. Of course because of that fact the prices there tend to be higher than on other competing services such as some of the ones mentioned already. Other services such as CloudHashing than tend to remain pretty expensive and don’t update their prices often are not having such problems, so that they don’t get the need to increase the prices further. All this however seems to point to the fact that there is an increased demand from users for cloud mining services, especially ones that actually can deliver relatively quick ROI and miners can thing about getting some profit investing in them. As a result we expect to see some more competition in the cloud mining services especially now when many ASIC manufacturers are also working on offering cloud mining services along with their new and upcoming mining hardware.

BTC and LTC Cloud Mining Services Current Price Comparison

12, Aug 2014

cloud-mining-services

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.


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