#1 BTC Mining alt method


SUBMITTED BY: m0dder

DATE: May 8, 2021, 5:25 p.m.

UPDATED: May 8, 2021, 5:26 p.m.

FORMAT: Text only

SIZE: 1.1 kB

HITS: 522

  1. Pick a cloud mining contract package. With cloud-mining, you essentially lease mining power from a miner farm for a period of time. While your contract is active, you get all the Bitcoin that is mined using that amount of mining power, minus fees paid to the cloud-mining service for maintenance of the mining hardware.
  2. Contracts typically last from 1 to 3 years, although some last longer.
  3. While shorter contracts may carry a lower price tag, it's unlikely that you'll make any money in a shorter period of time. You usually need at least 2 years to break even.
  4. Prices vary anywhere from under $100 for smaller contracts to several thousand dollars for larger contracts with more mining power – expressed as the hash rate. For example, as of 2019, Genesis offers a 2-year Bitcoin mining contract for $50, which gets you 1 TH/s (1 Tera hash per second, or 1,000,000,000,000 hashes per second).
  5. This sounds like a lot, but it's unlikely that you'd do much more than break even in 2 years on such a small plan. At the other end of the spectrum, you could get a 5-year contract for $6,125 with 25 TH/s.

comments powered by Disqus