Crypto Mining Blog

One more week has passed from our ongoing PB Mining Bitcoin cloud mining service tests and we got some requests to report on how things are progressing. We are currently testing a few more other cloud mining services that lately do have some issues as apparently they are getting DDOS attacks from people trying to hack them and this is hurting the user experience. What we have noticed is that so far there were no problems with the normal operation of the PB Mining service since we’ve started using it more than two weeks ago and things are still running smooth and on time, definitely a serious plus in our personal opinion.

As we’ve already discussed PB Mining is sending the payouts from the cloud mining hashrate that you have purchased every Sunday before Midnight. This is a bit of a drawback as you have to wait a week to get your earnings available the in Bitcoin wallet, it would’ve been even better if the payouts were daily, so that you would have access to the mined funds faster. Another thing that we have noticed since we’ve purchased another 9 GHs after the initial 1 GHS we used for testing was that each purchase comes on a separate line in your profile and that makes it a bit harder to track the overall results. Also when you are getting your payments sent they come in separate transactions for each purchased lot of hashrate, so if you purchase 10 or 20 times different amounts of cloud mining hashrate it will be harder to track them easily, though there are no problems and you are getting payed as promised and what you have earned right on time.

We have noticed that the total hashrate of the pool has reached 38000 GHS, so the operators of the service are apparently adding more ASICs all the time in order to supply enough hashrate with the increasing demand. If you are planning to start using the BTC cloud mining services that PB Mining provides it will be wise to wait a bit more until the new Bitcoin difficulty hits as we expect the price per GHS to get even lower. The next difficulty increase of the Bitcoin network should happen in about one more day, though the increase this time will be a bit more subtle with roughly about 12-13%. With the previous difficulty increase we’ve seen a price drop for the price per GHS, so we expect to see another one this time as well, so you can just purchase a few GHS to test the service now and get more in a day after the difficulty increases at even better price. Note that PB Mining does provide a long term contracts where you are renting the hashrate you purchase for 5 years period of time and you cannot sell it or transfer it to another user (at least for the moment). So do have in mind that if you plan on investing into cloud mining hashrate there, we do plan to increase our hashrate from the current 10 GHS to at least 20 for the next week when the new difficulty hits and we get an even better price per KHS.

– For more information and to try out the PB Mining Bitcoin cloud mining service…

We’ve been using the PB Mining Bitcoin cloud mining service for almost a week already and since the BTC network difficulty just increased by about 21% we have decided to report on our current earnings with the previous difficulty. We have started testing the BTC cloud mining service by purchasing 1 GHS with a price of 0.0107 BTC per GHS for the purposes of our tests. Now, after the difficulty has been just increased the there is a new price of just 0.0089 BTC per GHS. This means that at the moment you can purchase 500 GHS for about 4.45 BTC as opposed to 5.35 BTC for the same hashrate last week. This price reduction with the increase in Bitcoin network difficulty is a good thing and makes the service even more attractive, so we are already considering of purchasing some more GHS.

Let us see how things are going in terms of earnings, since our testing has started we got a small payment (they are sent every Sunday before Midnight) and currently our earnings from the 1 GHS purchased equal 0.00075838 BTC (not including the payment that was already sent). These earnings are for mining in the last 4 and a half days after we got a payment on Sunday. With the previous difficulty the estimate was 0.0001607 BTC per day earnings with 1 GHS hashrate so for 4.5 days this equals to 0.00072315 BTC and for 5 days 0.00080350 BTC. With our current earnings in between these two numbers we can say that we are very happy with the results we are getting so far. And with the update of the price for 5 years mining contract the PB Mining Bitcoin cloud mining service is getting more and more attractive option. Sure there are other alternatives available, but they try to not only sell you higher priced GHS, but also make you trade them while they mine for you in order to get higher profit (or loose more trying to do that). This service on the other hand is a long term contract where you cannot sell your purchase GHS, however they will continue to mine for you for 5 years with expected return of investment in roughly 6-8 months currently estimated.

– For more information and to try out the PB Mining Bitcoin cloud mining service…