Crypto Mining Blog

If we have to point our favorite cloud mining company in terms of reliability and trust, then it is definitely going to be Genesis Mining. Apart from providing good and stable services, this is the only cloud mining company that provides users with the ability to purchase Bitcoin (SHA256) cloud mining hashrate provided by ASICs as well as DASH (X11) and Ethereum (ETH) hashrate powered by GPUs. Unfortunately the earlier adopters might not be way too happy if they have purchased hashrate with higher maintenance fee as with the recent rapid increase in the total Bitcoin network hashrate and the high exchange rate per BTC the profit might not be that great. Currently the service sells Bitcoin cloud mining hashrate with $0.00069 USD per GHS per day as a maintenance fee, but some months ago it was $0.0012 USD per GHS and prior to that $0.0015 USD and even before that $0.002 USD. It is important to note that the maintenance fee is set at the time you purchase hashrate based on the currently set feed (depending on the generation of mining hardware being used). This means that if you have purchased 1 THS Bitcoin cloud mining hashrate 1 year ago, then now it would be earning you less than if you purchase 1 THS hashrate at the moment. Of course you would have mined for 1 year with that 1 THS, but then again you would have been mining for 1 year already with that previously purchased hashrate at a much lower difficulty.

Unlike with Bitcoin cloud mining contracts that are Unlimited (mining for you until they are profitable) With X11 and Ethereum cloud mining hashrate you are getting 1 year term contracts with no extra maintenance fee, everything is included in the price you pay for the hashrate. The question that arises here is what kind of cloud mining hashrate is more profitable to invest into now from the three different ones available if you consider they will be operational for 1 year if you have a set amount of USD to invest. Let us say we have $1050-1060 USD available to invest and they will get us 2.5 THS worth of Bitcoin hashrate, around 59 MHS Ethereum hashrate or 50 MHS X11 hashrate. So at what profits are we looking at after 1 year in terms of BTC (using current DASH and ETH exchange rates to BTC)?

We know that Bitcoin will have its second reward halving around the middle of the year and with the recent months we have seen a very steep increase in the network difficulty. So if we estimate that the total hashrate will at least double in the next year and the reward will drop in half in six months we can roughly estimate to expect to mine about 2.2 BTC (without taking the fees out of the equation) which is less than what we’d have to invest at the current BTC to USD exchange rate… however with Bitcoin reward halving and a significant increase in the difficulty we should also see an increase in the price of BTC.

Moving to Ethereum, a hashrate of 59 MHS with an expectation that total network difficulty will be double in a year should result in about 3.75 BTC equivalent if the ETH/BTC exchange rate remains the same as it is now. This at the current exchange rate of BTC to USD is more than we would have to pay for the hashrate, but then again we expect that in a year time Ethereum will be worth more than it is now just like BTC should be and the USD value should be higher. There are some concerns that Ethereum might switch from PoW to PoS in less than 1 year, in such case the hashrate you purchase will be switched to X11 hashrate.

What about the X11 cloud mining hashrate, what we should expect from the DASH mining with 50 MHS hashrate? This seems to provide the worst scenario at the moment with an estimate of just about 155 DASH coins mined in a year or about 1.78 BTC if the current exchange rate remains the same. With DASH (previously know as DarkCoin) things are more steady so it might be easier to do a more accurate longer term prediction.

In the end however it might be more profitable to just buy Bitcoin at the current price and sell it in a year than to purchase Bitcoin cloud mining hashrate or X11 cloud mining hashrate, with Ethereum cloud mining however you are most likely going to realize some good profit, but don’t forget that we have done just some rough estimates and in 1 year time things might look completely different. So be careful and think twice before making a decision should you invest in cloud mining hashrate, what type of hashrate to invest into or should you just buy some Bitcoins and wait for them to become even more expensive than they already are.

– You can get more information about the different Cloud Mining Contracts by Genesis Mining here…

It the last few days we have seen a rapid increase in price of the Ethereum’s Ether coins on the exchanges with the price of 1 Ether coin trying to reach the $3 USD mark and getting closer and close to the price of Litecoin. This has sparked a lot of user interest among users that are new to Ethereum and that have not yet mined it with their GPUs, so we’ve seen a lot of new miners joining the Ethereum mining and a lot of interest in cloud mining for Ethereum as well. AMD GPUs are generally doing better than Nvidia-based ones for mining Ethereum, though you can mine with both. For the moment the only service that is offering Ethereum cloud mining is Genesis Mining with 1 year mining contracts starting at $17.99 USD per MHS. The minimum contract you can purchase is 3 MHS and each contract includes all fees in the price of the hashrate, so there is no additional maintenance fee associated with it. The good news is that you can get an extra 5% discount from the regular price by using our coupon code CryptoMiningBlog5 during the checkout.

– You can get more information about the new Ether Cloud Mining Contracts by Genesis Mining here…

The cloud mining service provider Genesis Mining has just announced the immediate availability for Ethereum’s Ether cloud mining contracts. Ethereum is a distributed platform that allows participants to write and enforce their own “smart” contracts. It is sometimes also referred to as “Bitcoin v 2.0”. The alternative cryptocurrency protocol was inter-alia developed by Vitalik Buterin in 2013 and received wide support by community and professionals. The first sale of Ether coins (the currency of Ethereum) raised over $15 million (current market cap nearly $100 million).

The new contracts offered by Genesis Mining will be running for 1 year and will switch from Ether to X11 if Ethereum switches from proof-of-work to proof-of-stake which supposedly will happen end of fall 2016 according to Vitalik. The contracts will enable miners seeking to profit from the Ether value and are structured to maximize profit by all fees occurring upfront instead of throughout the life of the contract. The current price for 1 MHS hashrate for mining Ethereum’s Ether coins is $17.99 USD with all fees included in that price for 1 year duration of the contract.

Here is a quick and simple calculation on what you can expect to get with a 100 MHS Ether Cloud Mining contract for the duration of 1 year that you get will all fees included at $1799 USD when running the number through a mining profitability calculator. 100 MHS hashrate at the current Ethereum network difficulty should supposedly get you about 5 ETH coins per day or for 365 days you should expect to get about 1825 ETH coins if the conditions remain the same. With an exchange rate of about 1 USD per Ether coin at the moment you should in theory get a bit of a profit, however if the price doubles or triples in a year time things will be looking much different. Then again if you buy Ethereum Ether coins at the current price and it doubles in a year things might end up in a similar way for you, but at least you have the alternative available.

As far as we are aware this is the first actual service to offer Ethereum Cloud Mining Contracts, though there were some earlier announcements for new upcoming services that supposedly will be offering Ether cloud mining hashrate, but we haven’t seen any of these actually start operating, though there is a service for renting mining rigs already available for some time. The good news is that if you use our special discount code you will also get 5% discount off the regular price for the new Ether cloud mining contracts, so you can get even better deal for the price per GHS – all you have to do is to enter the promo code CryptoMiningBlog5 during the checkout procedure when you order hashrate. Do note that this promo code should also work for the X11 and SHA256 cloud mining contract that the service offers, so do take the advantage of a better price for hashrate should you decide to purchase some cloud mining hashrate at the service.

– You can get more information about the new Ether Cloud Mining Contracts by Genesis Mining here…