Bitcoin Cloud Mining Breakdown: Is It Worth It?


Throughout 2021, Bitcoin (BTC) has been the trendsetter in the cryptocurrency, banking and fintech industries. More and more people are eager to join the crypto mania and scoop their share of the crypto universe. One of the most popular ways to get cryptocurrencies without directly buying or trading on crypto exchanges is cloud based online cryptocurrency mining. Cloudmining reduces the overall expenses on hardware, maintenance, electricity costs and for many investors, it is a good starting point with a low investment threshold for long-term purposes. Let us analyze the core benefits of cloud based crypto mine solutions and why mining of Bitcoin with cloudux is so popular among crypto miners.

Mining cryptocurrency on your own (solo mining using CPU, GPU or ASICs) is not profitable anymore, especially when it concerns mineable Bitcoins with high-capacity hashpower and energy consumption. A miner might decide to join a pool or minerfarm in order to use the collective hashing power to mine cryptocurrencies, but the miner reward is also distributed proportionally in accordance with the hashing contributions. Therefore, with an aim of optimizing the farming process, people start using smart Bitcoincloudmining services and mine BTC on clouds. Here, cloudbase BTC mining  eases up the entry and exit points  in highly competitive virtual mining of cryptocurrencies.

Why Bitcoin Cloudmining Services Prevail?

  1. Easy start (no special technical knowledge is required).
  2. Access to world class ASIC mining data centers.
  3. Users cloudmine exclusively new crypto currencies.
  4. Lease of rented hashing power eliminated the need to buy and maintain mining rigs.
  5. Option for multi currency mining (instant switch among consensus algorithms).
  6. Initial investment into cloud based farming of Bitcoins starts from low to high.
  7. Virtual monitoring of coin transactions.

The beauty of virtual Bitcoinminer services is that a person can continue coin farming online with 100 % uptime guarantee and earn passive income online with the cryptominer. Geographically, Bitcoin cloud far facilities are located in such regions as the US, Canada, Kazakhstan, Iceland, Norway, UK, among others. The warehouses are equipped with new AMP Bitminer ASIC rigs operating 24/7 and attended by qualified working staff all year round (Jan., Feb., Mar., Apr., May, Jun., Jul., Aug., Sept., Oct., Nov., Dec.). In order to use the best in class Bitcoin cloud mining services, one should take advantage of the companies (websites) offering the rental of cloud based mining  hardware. The list of the most popular sites offering cloud mining services of Bitcoins is as follows:

  • Hashing24
  • ECOS
  • Hashshiny
  • NiceHash
  • ChickenFast

Let us review the first website in the list — Hashing24.  First and foremost, the company is concentrated on rendering BTC cloud mining services only (the first and most popular coin). Registered platform users can buy a BTC mining contract for a definite period of time (12, 18 and 24-month plans) and select the desired hashrate power for online cloud farm activities. The lowest crypto investment starts at 0.00176591 BTC per 1 TH/s, although Hashing 24 accepts bank card payments and wire transfers as well. The website has an interactive feature called Demo mining. The following toll free functionality allows users to view and monitor virtual cloud mining (Bitminer) on their real accounts. It is designed and constructed for educational and demonstrative purposes whereas the client can start Demo mining with real market conditions but without any initial investment whatsoever.

The Hashing24 company has its central office in the Eurozone (Republic of Ireland) and its main supplier of the hash power is Bitfury, one of the forefathers of Bitcoin blockchain solutions and Bitcoin miner hardware manufacturers. In order to buy a contract for BTC cloud mining, it is necessary to register with the site, select the contract duration and hashing power plan, make a payment and that is all about it. The BTC mining with preferred parameters will start at 00:00 UTC timezone respectively. The all inclusive pricing suggests that the user does not need to pay any maintenance costs. In order to calculate future profits from BTC cloud mining, the site has an online mining profit calculator with such input data as network difficulty, block reward, power and current and future BTC price marks.

Additionally, the H24 company has a very interesting functionality called Trading Room. In fact, it is analogous to trading with an order book and market depth, but users buy and sell BTC mining contracts. It is absolutely market driven and introduces more flexibility and trading opportunities for traders to speculate on BTC price swings. Furthermore, traders can put up for sale BTC mining contracts even after 1 day usage. The minimum entry point for trading is 1 Satoshi and the trading fee amounts to 5% respectively.

As far as you can see, the BTC cloud mining services are mainstream among crypto miners and domestic Bitminers become redundant as time goes on. The cloud mining sector offers a wide choice of available options but one should always keep in mind that choosing a reliable and trustworthy provider is of utmost importance. Therefore, you should carry out an in-depth research which company to choose and weigh all investment risks before starting your crypto mining journey.