Genesis Mining Review
Genesis Mining Review with profits, ROI, payouts and calculations.
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Genesis Mining Review Summary
- Genesis Mining ROI(yearly): 5-20 %
- Mining contract: Lifetime, 1 year, 2 years
- Payouts: Daily
- Payment methods: Credit card, Bitcoin, Dash, Litecoin, Dogecoin
- Genesis Mining contracts: Bitcoin, X11, Zcash, Ether, Monero, Scrypt
- Allcloudminers rating: ★★★★★
Genesis Mining Company
Genesis mining has been an operating cloud mining company since 2013. They are a Hongkong based bitcoin cloud mining company. Altogether, they have farms in Iceland, USA and Canada. Genesis has a partnership with one of the largest ASIC manufacturer´s, Spondoloolies Tech. Genesis write a blog about bitcoin which they update occasionally. Furthermore, Genesis also provides webinars a few times every year. During those webinars, they film from inside the mining parks and talk about their future projects. In summary, Genesis Mining is a very transparent company in contrast to many other cloud mining operators. Genesis Mining have over 300.000 members.
Genesis Mining Review profitability
We invested first time in Genesis mining in Oct. 2014. Since then, we have bought several SHA-256 life time contracts. The average break-even period is around 1-1.5 years. The life time of the contracts are ususally almost 2 years. We have make loss on some contracts but most profits. At 2017-04-03 it would take 793 days to break even with our SHA 256 contracts. Remember that Genesis Mining always update the equipment so if you buy a new contract the maintenance fee is lower. Therefor the expected break-even period will be shorter for a new contract than for an old contract.
Genesis Mining Ether Profitability
Genesis Mining Ether profitability has a break-even period of 355 days according to our calculations, 2017-04-03. The contracts run for 2 years so it might be a good investment. Remember that Ethereum will switch from proof-of-work to proof-of -stake. This will impact mining since the rewards will get less and less until they are zero. However, Genesis Mining will switch those miners to SHA 256 when this will occur. Genesis Mining Ether cloud mining contracts has no maintenance fee.
Genesis Mining Zcash Cloud mining
Genesis Mining has started to offer Zcash cloud mining contracts. The break even period for our Zcash contract 2017-04-03 was 1080 days, which is a lot. The contract only run for 1 year. However, the profitability can change fast since the cryptocurrency market is so volatile. Our recommendation is always to start with a small investment and grow continuously. Genesis Mining Zcash cloud mining contract has no maintenance fee.
Genesis mining X 11 mining profitability
Genesis mining X 11 mining profitability was very good on 2017-04-03. We calculated a break-even period of 202 days from our contracts. The contracts run for 2 years. The short break-even period was due to the spike in the DASH price. After the calculation, the DASH price has decreased a bit. Genesis Mining Dash cloud mining contracts has no maintenance fee.
Genesis Mining Maintenance Fee
The Genesis Mining Maintenance fee is only applied to SHA 256 Bitcoin cloud mining contracts. The contracts are always the same. Therefore, 1 MH/s is always comparable to 1 MH/s in the number of mined Bitcoins. However, the payment is different from different contracts because of the maintenance fee. Always keep this in mind when you compare cloud mining contracts. Because of this, our cloud mining calculators of SHA 256 may not represent exactly the same results as your own calculations.
Genesis Mining Monero Contracts
Genesis Mining launched Monero cloud mining contracts in March 2017. The break-even period for the Monero cloud mining contracts was 575 days on 2017-04-03. Monero are 2 years contract with no maintenance fee.
Genesis Mining Profit Calculator
In this section, we present Genesis Mining calculator. Many of our readers have asked for this function but it´s very hard to find it. The reason why it´s very hard to find it is simply because it´s also very hard to predict the mining outcome in the future. However, it´s possible to calculate the current payout speed and make a linear regression. Most noteworthy, a linear regression will not correspond to the reality but it´s an indicator.
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Blog posts about cloud mining calculation
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