Cryptocurrency Mining has for a long time been one of the most exciting but complex elements of the crypto industry. In the early days of mining, the profits were enormous, bitcoin and altcoin prices were soaring and it seemed like anyone with a decent GPU could sit back while creating a small fortune.
With rising difficulty levels (roughly how hard it is to ‘solve’ the complex mathematical problem that allows the addition of a new block to the blockchain) due to more and more people getting into mining, coupled with the fact that the hardware required to make a profit is becoming expensive and difficult to obtain, it can be very difficult to get involved.
Although for those that are able to - buying hardware is still often the most profitable option, cloud mining can be an attractive alternative for those that want to get involved in mining without some of the risks, electricity costs and logistical problems associated with buying their own equipment.
Rather than purchasing and storing your own hardware, these platforms allow you to rent hash power remotely via mining contracts - without the need for the management of the equipment.
Genesis Mining is the world’s largest cloud cryptocurrency mining company. Founded in 2013, the operation has mining farms located in Europe, America and Asia and has established itself as one of the leading platforms for buying hashpower.
In December the popular platform had sold out of mining contracts due to high demand. The company has now announced, however, that it has new mining contracts available.
With the new mining contracts offering a 5 year runtime, reduced maintenance fees and no pre-sale, the contracts offer an interesting opportunity for those wishing to get involved in mining with a large, reputable company.
The new contracts can be bought here (but are currently not available for US customers).