Cloud Mining News July 2016
Cloud Mining News July 2016
There are some important news in cloud mining industry in July 2016. The Bitcoin halving has just occurred but we will cover this in another post. In this post, we will present the news from Genesis Mining, Hashflare and other companies.
Genesis Mining News July 2016
Genesis Mining has announced good news in July 2016. We early discovered the bad payback rate on the new 1 year X 11 contracts. We calculated the break-even time for the new contracts to about 600 days. We also asked Genesis Mining about this calculation. A few days later Genesis Mining published an upgrade of their new 1 year X 11 contracts to 2 years contracts. And on the top of this, the electricity cost for the second year will be free of charge, as well.
Hashflare Cloud Mining News July 2016
Hashflare has announced in July 2016 that they have prepared for the Bitcoin halving for a long time. They are installing new more energy efficient SHA-256 hardware. We will see how this affect the payouts in a couple of days.
Other Cloud Mining News July 2016
In late June and early July 2016 we experienced many cloud mining scams. We noticed that Hashocean, Bitsrapid, CLD mine and Topmine turned down. All of them offered some kind of free cloud mining contract. Also, all of them offered high continuous payouts. Let´s learn to make small investments, especially in the beginning with doubtful companies.
Best Cloud Mining Companies
We have our favourites among the different cloud mining companies. We try to cover as many parameters as possible such as transparency, payouts and support. We recommend:
Genesis Mining Promo code: “allcloud” 3% off
BW Mining
Alternative Bitcoin Investments
There is a few other ways to get passive income from Bitcoin other than cloud mining. We will not cover these opportunities as good as we cover the cloud mining business. However, we would like to mention alternative investment approaches so our users know about them.
Bitbond, peer-to-peer lending
Bitfinex, Margin funding
Bluetrade, Shares with dividends twice a day (10 % yearly ROI)