Genesis Mining Review Summary
Bitcoin: 1000 GH/s = $150 (Lifetime Contract)
Maintenance fee BTC: 0.28 USD/day (1000 GH/s)
Litecoin: 10 MH/s = $140 (2 year contract)
Maintenance fee LTC: 0
DASH / X11: 100 MH/s = $500 (2 year contract)
Maintenance fee DASH: 0
Ethereum: 10 MH/s = $300 (2 year contract)
Maintenance fee ETH: 0
Zcash: 40.6 H/s = $289 (2 year contract)
Maintenance fee Zcash: 0
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 writes 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 has over 1.000.000 members.
Genesis Mining Bitcoin profitability
- Genesis Mining Bitcoin profitability has a break-even period of 177 days according to our calculations, 2017-10-01.
We invested the first time in Genesis mining in Oct. 2014. Since then, we have bought several SHA-256 lifetime contracts. The average break-even period is around 1-1.5 years. The lifetime of the contracts is usually almost 2 years. We have made a loss on some contracts but most profits. Remember that Genesis Mining always updates the equipment so if you buy a new contract the maintenance fee is lower. Therefore, the expected break-even period will be shorter for a newer contract than for an older contract.
Genesis Mining Ethereum
- Genesis Mining Ethereum cloud mining profitability has a break-even period of 650 days according to our calculations, 2017-10-01.
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 have no maintenance fee.
Genesis Mining Litecoin profitability
- Genesis Mining Litecoin cloud mining contracts had a break-even period of 196 days at 2017-06-26.
Litecoin is a cryptocurrency based on the Scrypt algorithm like Peercoin and some other cryptocurrencies. That why this contract sometimes is referred to as Scrypt cloud mining contract also.
Genesis mining X 11 mining profitability
- Genesis Mining X 11 cloud mining profitability was very good on 2017-10-01. We calculated a break-even period of 2388 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 Zcash Cloud mining
- Genesis Mining has started to offer Zcash cloud mining contracts. The break-even period for our Zcash contract 2017-10-01 was 460 days.
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 Monero Contracts
Genesis Mining launched Monero cloud mining contracts in March 2017. The break-even period for the Monero cloud mining contracts was 496 days on 2017-10-01. Monero is 2 years contract with 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 Profit Calculator
In this section, we present all blog posts where we have published Genesis Mining calculations. Calculations are done according to this formula:
Contract Price / (Daily payout-Maintenance fee) = Break-even days
Example (not real figures):
Contract price 200 Gh/s = $30 = 0,011 BTC
Daily payouts = 0,000045 BTC
Maintenance fee = 0 BTC
0,011 / 0,000045 = 244 days
Calculations blog posts
Blog posts about cloud mining calculation
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