Crypto Mining Blog

It seems that Genesis Mining has lowered their prices for Bitcoin cloud mining hashrate, though the prices for Scrypt cloud hashrate remain the same as the last time we have discussed the prices of the cloud mining service. The Gold starter pack is now 20 GHS available for $15.99 USD, previously it was 10 GHS for $9.99 USD or $19.98 USD for 20 GHS, the 1 THS Platinum best buy package is now available for $779 USD and it was previously available for $989 USD and the 10 THS Diamond max profit package will now cost you $7699 USD as opposed to $9790 USD previously. This essentially means that now you need to pay about $0.79 USD per GHS instead of $0.999 USD per GHS as the price of last month. Furthermore it seems that the increase in network difficulty may not be so steep for some time after a few bigger jumps we’ve seen lately, unless of course the BTC price increases rapidly, though it has been quite stable near the $400 USD mark lately as well.

You can also get even lower prices than the ones cited above if you are interested in getting cloud mining hashrate at Genesis Mining. By usig the promo code CryptoMiningBlog5 you will get an extra 5% discount on every purchase, the code is valid for both Scrypt and SHA-256 cloud mining hashrate at Genesis Mining. So if you still haven’t checked the service out, then you might want to do so with the new lower prices that are more attractive for getting into cloud mining. Do note that the contracts being currently offered by Genesis Mining are with lifetime validity (until the purchased hashrate mines more than the maintenance fee) and these is a maintenance fee associated with the hashrate you purchase.

– You can get more information about the cloud mining services offered by Genesis Mining here…

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).

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…