Cloud Mining — Crypto News

What is cloud mining?

Cloud mining companies

  • China — cheap electricity and affordable equipment,
  • Iceland — the possibility of natural cooling,
  • Estonia — tax incentives for this type of activity.

Relevance

  1. You have no possibility and desire to deal with mining by your own.
  2. You live in a country with high electric power supply rates.
  3. You have enough resources to invest in the cloud mining, while this is the money that you are ready to risk.
  4. You have calculated necessary powers to ensure that your expenses have been repaid.
  5. You have carefully investigated the cloud mining market and found a company, which can provide these powers at an affordable price and possesses a positive reputation in the users’ community.

Advantages

  1. Absence of fans noise and overheating because of processors.
  2. Decrease of the electric power consumption.
  3. No need to control, set up or repair the equipment.
  4. No excess heat.
  5. No noise from spinning fans.
  6. No energy costs.
  7. No need to buy expensive equipment.

Disadvantages

  1. The lease expenses increase the final mining cost, which influences the final income.
  2. Minimum control and absence of a possibility to select one or another service (as a rule, providers themselves distribute the tenants between them).
  3. Fraud risk. Companies in this segment usually don’t work transparently and there are no leverages for them.
  4. A lot of scams.
  5. Non-transparent mechanisms of the companies.
  6. Absence of pleasure from creating their own mining system.
  7. Decrease in profit is a cloud — based company is also interested in receiving some income.
  8. Cloud the company may suspend or disbursements, if the course of bitcoin will fall.
  9. Lack of equipment which later could be sold.
  10. Inability to change the software used.

Cloud Mining Services

  • Hashflare. Offers production contracts using the SHA-256 and SCRYPT technology. The payouts are made in BTC. The clients have to buy no less than 10 GH/s. A one-year contract costs $1.5.
  • Genesis Mining. Is the biggest provider of Bitcoin cloud mining. Contracts for the production of the Zcash cryptocurrency are also available. A two-year lease contract for the power of 30 MH/s costs $869.
  • Hashing 24. Has been dealing with the development of Bitcoin cloud mining since 2012. Has mining rigs in Iceland and Georgia, where modern chips ASIC by BitFury are used, ensuring the maximum productivity and efficiency. A one-and-a-half-year plan for 100 GH/s costs $34.
  • Hashnest. At the moment it has over 600 Antminer S7s for lease. One Antminer S7 can be leased for 22900 RUR.
  • Eobot You can launch Bitcoin cloud mining from 10 dollars.

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