Hi guys
Sorry I have been so dormant recently, getting married requires a huge amount of time to deal with all the small things.
Any way i've spent a lot of time cloud mining in my off days ( as it requires a lot less man power than actual trading, which i still do of course just not as much )
So I decided to share with you my knowledge I have received from my own personal research.
Firstly ill talk about the 2 main cloud mining services.
Disclaimer time - Firstly let me start off by saying I do not work with OR for any of these 2 cloud mining companies, and this is just my information I have gathered from research. This is not investment advice, you may use my information in what ever way you feel. Secondly, never invest with money that you are dependent on, only with money you are willing to lose.
OK now that that's done, lets get to the real information
let me introduce you to the 2 main cloud mining companies.
Firstly , Hashflare.
I have used hashflare for over 8 months now and received my ROI , so they are quite a favourite in my eyes.
This post isn't about who they are so if you would like to know more please visit their website.
The next contender is Genesis Mining
if you would like to receive 3% discount on any of your hashflare purchases you can use coupon : E7gz50
This is in my opinion the biggest mining company around at the moment. I haven't used them as long as hashflare but so far I haven't run into any problems or heard many complaints about them either ( very similar to hashflare)
So who and what is most profitable?
These two companies offer pretty much the same coins to mine
Namely : bitcoin, Ethereum, Dash, Litecoin
Ill use $1000 (or as close to that as possible) as our set amount and compare with that.
| COIN | HASHFLARE | GENESIS |
|---|---|---|
| bitcoin | 8.5th/s | 7.5th/s |
| Ethereum | 50mh/s | 40 mh/s |
| Dash | 180mh/s | 200 mh/s |
| Litecoin | 74mh/s | 84mh/s |
So from the above table we can see hashflare is looking better for bitcoin and ethereum but genesis is better priced for Dash and litecoin.
One thing to note is that Genesis is out of stock on dash and litecoin, so that could be old prices, but lets work with it as its not.
Next thing to know is that Hashflare offers 1 year contracts on its Eth and Dash contracts compared to Genesis mining which offers 2 year contracts ( no brainer )
Lets now compare which is most profitable.
Eth and Dash cloud mining have no maintenance fee, while scrypt and bitcoin do.
ill table below the profitability, this will be the final profitability with the electricity and maintenance deducted from it, so your final amount per month. Ill be using cryptocompare - https://www.cryptocompare.com/
| COIN | COMPANY | SPEED | MONTHLY PROFIT |
|---|---|---|---|
| BTC | Hashflare | 8.5th | $168.97 |
| LITECOIN | Genesis | 84 mh/s | $102.2 |
| ETHEREUM | Hashflare | 50 mh/s | $120.26 |
| DASH | Genesis | 200mh/s | $64.54 |
conclusion
From the above information you can see that firstly, at the current price of bitcoin it is more profitable to mine, and on top of that the bitcoin mining contracts are life time contracts (as long as bitcoin is profitable to mine)
Let me know what you guys think in the links below
and again, sorry i have been so quite :) I will try change that
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