5 Top Ethereum Cloud Mining Services in 2019
Ethereum cloud mining is highly competitive, but cloud contracts are back as an entry point to crypto ownership.
Ethereum (ETH) saw mining pick up by almost 30% in the past months. The network allows the usage of ASIC, or powerful specialized rigs, meaning the activity is highly competitive. But cloud mining contracts are still on offer, with small profitability at current ETH prices.
Here are the top 5 reputable services that offer Ethereum mining contracts subject to availability:
Genesis Mining: One of the oldest and largest mining operations, still managing to achieve profitability. Genesis Mining offers Ethereum as one of the chief altcoins to mine, with contract prices ranging from $550 to $6,550. This service is relatively large-scale, offering powerful hashing at higher prices.
Hashflare: Another service that has survived the bear market. For Hashflare, some of the Ethereum contracts were disabled recently. The chief benefit of Hashflare is the availability of small-scale contracts allowing a more flexible payment.
Hashgains: The site offers medium-priced mining contracts for leading proof-of-stake coins. Hashgains offers 24-month contracts priced from $250 to $2,500, with a long time period making it possible to get access to block rewards. The contracts, however, exclude a daily maintenance fee, which may add up if mining is not profitable.
IQMining: A bit more aggressive in its presentation, the contracts are on offer for $300 per 24 months, $250 with the October discount. IQ mining offers a small selection of algorithms, suggesting a yearly payout of as high as $142. As it is easily seen, the margins are rather thin for that contract, as block rewards are not guaranteed and rely on probability.
Minergate: This site takes a different approach to mining, offering pools and software to harness both GPU and ASIC to mine a basket of algorithms. The Minergate software is especially suited to Monero, despite the claims that the miner is not entirely efficient and possibly redirects rewards. Minergate offers ASIC pooling and is more suited to advanced users willing to invest in hardware.
The Ethereum network hashrate is now 187 TH/s, after miners flocked again to the network. For now, Ethereum delays the complete move to proof-of-stake and the 2 ETH per block reward is still appealing. Ethereum also brings robust transaction rewards, reaching as high as $200,000 per day.