Almost every active Internet user already knows about Bitcoin. Among a large number of cryptocurrency, it was and remains the unchallenged leader, the mining of which guarantees a solid profit. However, as Bitcoin became popularized, the process of production became more and more expensive and complicated.
The market has developed specialized services that take advantage of the collective work. This is how the cloud mining was born. Today, it is considered the most convenient and reliable way to purchase the desired BTC coins.
This solution suits all participants, because the miner does not need to set up and monitor the equipment, to be afraid of intruders and to suffer from the noise of coolers, and the company guarantees itself the return of investments invested in equipment, receiving rental income and commission for withdrawal of funds.
About cloud mining
Cloud mining – is the mining of cryptocurrency using cloud services. Instead of mining on their own equipment through a mining pool, users rent from the owner of the service the computing power of equipment used in the production of bitcoins, ethereum, litecoin or other cryptocurrency. This organization of the process is beneficial to both parties. Users can invest in cryptocurrency with a minimum entry threshold – the rental price starts from $ 10 and even lower. At the same time, there is no need to purchase and configure equipment, to support its efficiency.
In turn, service owners save by consolidating equipment in huge data centers. It should also be noted that the rental of mining facilities is often provided by ASIC manufacturers, which reduces the cost of purchasing computing power.
Cloud computing technology allows cutting production costs and get more profit than the one that is available to single “farmers” with a fleet of several devices.
In simple terms, cloud mining is the purchase or manufacture by a company of devices for mining in order to lease their computing power. The client only pays for the rented speed of calculations, and setting up, connecting to the Internet, problems of power supply and cooling entirely fall on the shoulders of the company.
The owner of a huge farm, which offers equipment rental services, independently copes with the difficulties of cryptocurrency mining:
- – Power outages;
- – Interruption of communication with the Internet;
- – Adjustment and maintenance of equipment operation;
- – High noise and heat generation;
- – Legal issues in the field of taxation and legislation of individual countries.
Companies take a commission to cover the costs of maintenance and electricity. Despite such additional costs, the rental of cloud services is more profitable than the maintenance of equipment at home. Farms and data centers are located in countries where electricity is inexpensive, and heat removal is not a problem.
The use of Cloud Mining services has significant advantages in comparison with the organization of own bitcoin farm:
- – There is no need for large investments in the purchase of ASIC or video cards;
- – Do not need to configure the equipment and monitor its operation;
- – It is enough to pay a rent – the company takes care of electricity costs and equipment repair;
- – High yield allowing to double its investments for the year;
- – Obtaining guaranteed HesHreit in accordance with the lease agreement;
- – A simple opportunity of increasing HesHreit by renting additional computing power;
- – Predictability of profit – losses due to equipment breakdown or downtime are not possible;
- – The possibility of risk diversification by minimizing various cryptocurrencies and using different services;
- – Additional earnings due to referral programs with the involvement of users to the service.