Cloud mining or cloud hashing is a service, which allows users to buy cryptocurrency mining power of the hardware placed in remote data centers, without any offline hassle, such as electricity, hosting issues, or installation and upkeep trouble.
The currently yield of the cloud mining contracts is 0.2%-0.5% per day.
For investments in cloud mining you must only:
- Register on site of cloud mining provider.
- Deposit funds.
- Buy cloud mining contracts.
Here is what services I are currently using:
- HashFlare (promo code: 9DF4C60D-R) is more recent service apparently operated by a bit controversial Estonian Bitcoin ASIC manufacturer HashCoins Trade OU.
HashCoins officially launched HashFlare on April 23, 2015. HashFlare offers cloud mining for both Bitcoin and altcoins. For SHA-256 Bitcoin mining, they use a non-stock version of their Apollo miner. For Scrypt mining, HashFlare utilizes their Ares miner. All hardware used in their 2 Megawatt data center is provided by parent company HashCoins. HashCoins is based in Tallinn, Estonia, and was founded in 2013 by Sergei Potapenko.
- Genesis Mining (promo code: 3RmLTD) is the preferred Bitcoin cloud mining service in terms of transparency and reliability. The Bermudian company Genesis Mining Ltd. is trying to run a transparent to its user operation, their teams frequently take part in crypto currency events and they have published information on their mining operations including their hardware suppliers. Their prices are in fixed in USD and you can purchase hashrate with various crypto currencies as well as bank cards and wire.
Genesis Mining launched their website in February 2014. Their team is composed of CEO Marco Streng, CTO Stefan Schindler, CFO Marco Krohn, and Head of Sales Jakov Dolic. Although most of their team is from Munich, Genesis Mining is officially based in Bermuda, and has mining operations in Iceland, Asia and America. They have attended a number of key global Bitcoin conferences, and their team has given talks and exhibited at the Inside Bitcoins conference series in Amsterdam, Las Vegas, Tel Aviv and Paris. They have continued to promote transparency, and are one of the most publicly visible companies in the space.
- GigaHash (gigahash.org) is a new smaller Bitcoin cloud mining farms of Bulgarian company Giga Hash Ltd. This project was launched in January 2015 as a private mining investment and after that offering cloud mining services to broader audience with their mining farm expanding all the time. They have recently announced another expansion and plans to offer some more Scrypt cloud mining hashrate as well as more Bitcoin mining hashrate in the form of fixed term contracts with all mining fees paid in advance.
- Mining Sweden is a more recent entry in the Bitcoin cloud mining scene, starting as a smaller mining operation with plans to grow with the help of its users. The service of company Mining Sweden LLC. offers Mining Shares that are only for cloud mining and VIP Shares that give you not only cloud mining hashrate, but percentage of the profits of the mining operation.
You should be careful though as this may lead to more scams popping up, so do not trust new services without any history even if they seem very promising.
You can thank for the article by sending any amount of Bitcoins in the wallet 18qo1Uw45wxVaXuBBLKs5kASFsX84rVWTu.