It is time to do a roundup of how things are moving with the cloud mining services that we are currently using, testing or are planning to check out and especially compare the current prices that they are offering. Buying physical ASIC miners for both Bitcoin (SHA-256) and Litecoin (Scrypt) might not be that good of an idea at the moment with the currently offered hardware and the performance it offers. The current market prices for Bitcoin and Litecoin are also not that appealing at the moment making it not so good for investment in mining hardware or cloud mining as well. With cloud mining services however you should also be careful as some do not offer so good terms and prices, so there is risk involved not only in buying ASIC miner hardware, but also when investing in a cloud mining service. As Litecoin and Bitcoin, as well as other crypto currencies using the same algorithms, get harder to mine cloud mining is becoming more attractive, but only at the right price and with the right terms. We’ve seen offers that have prices and terms making it essentially like throwing your money in the trashcan, but there are sometimes new companies that come with very attractive offers that soon turn out to be scams. So you should be extra careful with these, we’ve seen quite a few of these already and have started testing some of them just to find out that in a few weeks they disappear with the customers cash or coins invested. That is why we like to go for services that have been available for a while, at least a month or so, and we do recommend extreme caution with new services that have just appeared out of nowhere and are not backed up by someone with a decent reputation being around in the crypto community for some time (not that even this will offer 100% guarantee). The same goes for new companies that popup out of nowhere and start offering some new revolutionary ASIC miners. The time for long term pre-orders of mining hardware is pretty much over now as many people do not want to take that risk anymore.
Bitcoin cloud mining services:
– Bitcoin Cloud Services – 0.0020 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic daily payouts
– Genesis Mining – 0.00253 BTC per GHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.001 USD per 1 GHS daily fee, automatic daily payout
– PBMining – 0.0022 BTC per GHS, 5 years, no pool fee, no maintenance fee, automatic weekly payout
– GAW Miners – 0.00253 BTC per GHS, unlimited contract, $0.002 USD per 1 GHS daily fee, option to sell hashrate, manual payouts
– Hashnest – 0.00135 BTC per GHS, unlimited contract, $0.00325 USD per GHS per day (~55% fee currently)
– CEX.io – 0.00229 BTC per GHS, indefinite, $0.0035 USD per 1 GHS daily fee, manual payout, has an exchange to trade hashrate
Litecoin cloud mining services:
– ZeusHash – 0.0406 BTC per MHS, 1 year contract, no extra fees, automatic payout every 4 days
– Genesis Mining – 0.0456 BTC per MHS (extra 5% off with promo code CryptoMiningBlog5), unlimited contract, $0.08 USD per MHS daily fee, can choose to mine altcoins, automatic daily payout
– Scrypt.cc – 0.0894 BTC per MHS, unlimited contract, no extra fees, has an exchange to trade hashrate
– GAW Miners (Zen Hashlet) – 0.0531 BTC per MHS, unlimited contract, $0.08 USD per MHS daily fee, option to sell hashrate, manual payouts
As you can see we have some additions since our last post comparing the cloud mining prices as well as some services removed such as Hashop, Cloud Hashing and CoinTerra as these do not offer prices worth to even consider at the moment. We have not included KNC Cloud as well even though their latest Bitcoin cloud mining offers does seem attractive, however we are still unable to purchase any hashrate from the service due to some unknown location limitations. Genesis Mining, GAW Miners and ZeusHash are new additions with interesting offers based on their latest prices, so is Hashnest, but with that service as well as with CEX the maintenance fees are very high even though the prices of the hashrate may be attractive, so you should be careful. As competition heats up, especially in Scrypt could mining, we are probably going to see some new interesting offers and even better prices pretty soon. Do note that some services list their prices in USD and not in BTC, so we’ve used the current Bitcoin exchange rate of $394 USD to have all of the services listed in Bitcoin prices and a significant change in the price of Bitcoin may affect the prices of some of the services. Also unlimited contract does not mean forever, but instead means for as long as the mined coins are more than the maintenance fee you need to pay or with other words as long as you get some profit from your hashrate.
