Posts Tagged ‘Genesis Mining

genesis-mining-bitcoin-10-ths

We have already mentioned the recently lowered prices and lifetime contracts of Genesis Mining a few days ago. Now we can also take a look at what you can expect to earn if you purchase a cloud mining contract based on actual hashrate at the service and what it is earning on a daily basis. Starting with Bitcoin cloud mining and 10 THS hashrate that can currently earn you $80-$90 USD per day, that is if you are ready to pay $9790 USD price for the contract.

BTC earnings per day for 10 THS SHA256:

19.09.2014 – 0.17785190 BTC
18.09.2014 – 0.18023490 BTC
17.09.2014 – 0.18167440 BTC
16.09.2014 – 0.17355410 BTC
15.09.2014 – 0.18752240 BTC
14.09.2014 – 0.18290000 BTC
13.09.2014 – 0.20100000 BTC
12.09.2014 – 0.21401850 BTC
11.09.2014 – 0.16451335 BTC

genesis-mining-litecoin-100-mhs

Here is how the situation looks like if you decide to purchase 100 MHS worth of Scrypt mining hashrate and want to be paid in Bitcoins. What you will get is about $20-$25 USD per day in terms of earnings based on the current exchange rate for BTC. At the moment the price of 100 MHS Scrypt cloud mining hashrate is $1499 USD. It is interesting to note that the ROI of Scrypt cloud mining is currently faster in the current market situation, however Scrypt mining is also a bit harder to predict and riskier. If you invest the same amount of cash in Scrypt mining hashrate at the moment as you would need for the 10 THS SHA-256 cloud mining contract in short term you can expect to get about $130-$160 USD per day, or close to double that of the same investment in Bitcoin cloud mining. The only problem is that in just a few weeks time the profitability of Scrypt might not be as good as it is at the moment as compared to Bitcoin.

BTC earnings per day for 100 MHS Scrypt:

19.09.2014 – 0.04232800 BTC
18.09.2014 – 0.04822550 BTC
17.09.2014 – 0.04522190 BTC
16.09.2014 – 0.04800210 BTC
15.09.2014 – 0.04580810 BTC
14.09.2014 – 0.04798480 BTC
13.09.2014 – 0.05282940 BTC
12.09.2014 – 0.04697350 BTC
11.09.2014 – 0.04349110 BTC

So if you decide to invest in Genesis Mining in either Scrypt or SHA-256 cloud mining contracts make sure that you do the math using also the above numbers of actual earnings that you can currently expect to get. Do note that the numbers cited above are with the fees already deducted, so they reflect the actual amount of coins that you will receive on a daily basis as earnings. If you have already decided to get some cloud mining hashrate we have a bonus for you, 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.

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

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…

genesis-mining-scrypt-new-prices

The cloud mining service Genesis Mining has lowered the prices of their Scrypt mining hashrate down from $79 USD per MHS to $49 USD per MHS for 1 year contracts. For 20 MHS contract you will no longer have to pay $1380 USD, but $880 USD instead and for 100 MHS cloud mining Scrypt contract the price is down from $5900 USD to $3900 USD. These prices are for 1 year mining contract and they include all of the fees associated such as for hosting, electricity and maintenance, so there is nothing extra that you need to pay. You can also get an extra 5% discount from the regular price by using the promo code CryptoMiningBlog5

With the current market conditions the only way for you to manage to break even on a small hashrate investment during the duration of the mining contract is if the price and network difficulty for Litecoin remains the same as it is at the moment for 1 year and we know that this is not going to happen. Putting a more reasonable number like 3-5% increase at the current price there is no chance to even ROI in a year with the 100 MHS contract where you get a lower per MHS price. If you are going to bet on an increase of the price of LTC as usual it is better to just buy Litecoins instead of investing in cloud mining service that does not give you promising result when you run the numbers over a mining calculator. As usual when you are considering to invest in either cloud or real mining hardware do your math carefully and then decide if it is worth to go for it or not…

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


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