Posts Tagged ‘Genesis Mining’

Ethereum Ether Cloud Mining Contracts from Genesis Mining

16, Dec 2015

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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…

Bitcoin Cloud Mining Provider Genesis Mining Reaches 100,000 Customers, Announces Black Friday Discount

26, Nov 2015

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Genesis Mining, the world’s leading bitcoin cloud mining provider, announced their most significant milestone yet today: the acquisition of their 100,000th customer.

Since launching in early 2014, Genesis Mining has separated themselves from the competition with their dedication to transparency, community activism, and constant innovation, which has allowed the company to scale faster and more effectively than many other companies in the industry.

In July of this year, the company announced Genesis Hive, a tool that provides enterprise-level cloud mining management to mining companies and providers.

In August of this year the company announced Life Inside a Bitcoin Mine, which gives users the ability to watch a live stream directly from one of the Bitcoin mines the company operates in Iceland.

In September of this year, the company announced the launch of X11 cloud mining, a service that allows customers to mine via an alternative algorithm.

And in October of this year the company announced their U.S.-based Bitcoin advocacy campaign aimed at raising awareness about Bitcoin for mainstream audiences. The campaign launched in San Francisco, Los Angeles, Miami, Boston, and Chicago and featured a variety of creative taxi ads, billboards, and street signs.

To celebrate this important milestone, lucky customer number 100,000 will receive $1,000 in free hashpower. Additionally, Genesis Mining will be giving all customers a discount of 11% for all orders purchased on Black Friday.

Marco Streng, CEO and Co-founder of Genesis Mining, stated, “We are truly thrilled and honored to reach this milestone. We focus a tremendous amount of our efforts on customer service and reaching this goal is directly related to our dedication to ensuring their satisfaction. 100,000 customers is amazing but we already have our sights on a much larger goal for 2016: 500,000 happy customers.”

Genesis Mining plans to continue their creative marketing efforts and dedication to product development over the upcoming year and will be announcing new products, services, and marketing campaigns very soon.

X11 Cloud Mining Back in Stock at Genesis Mining

12, Nov 2015

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The cloud mining provider Genesis Mining has X11 cloud mining hashrate back in stock after their initial mining capacity was quickly sold to users. The prices for hashrate remain the same as before and they are for 1 year mining plans with no additional fees for maintenance, everything is included in the price of the hashrate. Currently there is a limit of maximum 100 MHS per X11 contract that you can buy as there is apparently still high demand and a limited supply and since X11 algorithm support requires GPUs it is not as easy to deploy in large capacities like it is with Bitcoin and ASIC mining hardware.

– You can get more information about the new X11 cloud mining services by Genesis Mining here…


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