Genesis Mining Review Summary
- Genesis Mining ROI(yearly): 15-40 %
- Mining contract: Lifetime, 1 year
- Payouts: Daily
- Payment methods: Bitcoin, Credit card, Wire, Litecoin, Darkcoin, Dogecoin
- Genesis Mining contracts: Bitcoin, X11, Zcash
- 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 SHA-256 contracts for 9.3 BTC. We have collected all our net payouts and created this graph. As you can see above we broke even in March 2016 and since then making a profit. All contracts were closed in Aug 2016 due to inefficiency (they did cost more to run than they produced). This will eventually happen to all lifetime cloud mining contracts.
Genesis Mining Ether Profitability
Total invested: 0.28 BTC = $125 (Since 2016-01-26)
Total payout: $93
Payout rate 2016-06-07: $0.5 / Day
Estimated time to break even: July 2016 = Approximately 6 months
These are our Ether cloud mining payouts from Genesis mining. We have invested in total 5 MH/s. We have bought Ether cloud mining contracts at 2016-01-26, 4 MH/s for 0.18 BTC and 2016-03-01, 1MH/s 0.10 BTC. Genesis mining increased the price of Ether mining between our purchases due to high demand on the market. During the first round, Ether was still a low valued altcoin with less attention. Between the purchases of the Ether cloud mining contracts, Ether gained huge attention and skyrocketed in price. That´s why the second purchase of contracts were more expensive.
Genesis Mining Zcash Cloud mining
Genesis Mining has started to offer Zcash cloud mining contracts. Zcash is a new coin that offers confidentiality and still maintains a decentralized network with public blockchain. Zcash transactions can be totally anonymous.
Genesis mining X 11 mining profitability
Genesis mining X 11 mining profitability from 20 MH/s which cost $180 on 2016-07-28. We have paid a bit more since we have bought older contracts.These contracts were almost not affected by the Bitcoin halving even if they still mine 100% Bitcoin. The X 11 contracts are possible to allocate to mine different cryptocurrencies. As has been noted, the contracts are cheaper now but also the maintenance fees are lower.
Genesis Mining Maintenance Fee
The Genesis Mining Maintenance fee varies with different contracts. The contracts are different dependent on at which time you bought them. Therefore, 1 MH/s is always comparable to 1 MH/s in the number of mined Bitcoins or other coins. However, the payment is different from different contracts. Always keep this in mind when you compare cloud mining contracts. Because of this, our cloud mining calculators may not represent exactly the same results as your own calculations.
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
- New Cloud Mining Calculation, Jan 11 2017
Bitcoin Cloud Mining Calculator 2017, Jan 04 2017
- Cloud Mining Calculation Dec 2016, Dec 03 2016
- Genesis Mining Calculator Nov 2016 Nov 2016
- Bitcoin cloud mining calculator July 2016 August 17, 2016