A well-established and highly popular cloud mining firm. It is well-established with verifiable data centers Mining contracts for many cryptocurrencies Often sold out due to popularity
As one of the oldest (it dates back to 2013) and largest cloud mining centers, there seems to be no better place to begin than with Genesis.
Its website offers a live feed of some of the data centers which are based in Iceland, a country where cheap geothermal electricity is readily available.
Mining contracts are technically available for all major cryptocurrencies and you can visit your online dashboard at any time to reallocate your purchased ‘hash power’ (so, for example, you could go 60% Bitcoin and 40% Litecoin).
In terms of fees, Genesis currently charges $0.14 per TH/s per day for mining Bitcoin. The price of other cryptocurrencies may vary so we encourage you to make your own enquiries. The website has a Payouts section which you can use to monitor how much you’ve mined. Due to high transaction fees on the network, your mined coins may need to meet a minimum threshold before the funds are actually transferred to your wallet.
The simple interface combined with Genesis Mining’s solid reputation has meant that at times the company cannot keep up with demand for mining contracts (which tells a story of its own). At the time of writing Bitcoin, Dash and Ethereum mining contracts were available for purchase, although this will likely change later in the year.
A major outfit backed by a big name in ASIC mining hardware.
Hashnest was launched in 2014 by Bitmain, which is a world-renowned manufacturer of ASIC mining hardware. Bitmain also operates one of the largest mining pools in existence: Antpool. Combined with the photos of a handful of data centers on the Hashnest website, this is persuasive proof that the company is legitimate.
While Bitmain is based primarily in China, Hashnest has mining farms around the world, which benefit from low cost electricity.
The website currently offers a Payout Accelerated Cloud Mining Contract or PACMiC for short. The PACMiC is a type of electronic contract structured in such a way that Bitmain pays the maintenance costs of mining rigs (such as electricity), and all the mining revenue will be used to pay back the owner of the PACMiC. When the principal is not fully paid back, it will share profit with buyers.
This loosely translates as 6.0TH/s of hash power in exchange for 1 BTC. Hashnest claims this results in rolling profit pay-outs for each block found with an annualized ROI of over 14%.
Alternatively you can purchase hash power directly from Antminer devices such as the S9 which has a rate of around 12,5TH/s. You then pay a fixed maintenance fee depending on the efficiency of the device – for instance, the fee for the S9 is currently $0.19/TH/day.
Contracts for the Antminer devices are currently sold out but you can still buy a PACMiC contract if you have the funds