Bitcoin Cloud Mining

Want to find the best Bitcoin cloud mining contracts? This post has you covered.

Most Bitcoin Cloud Mining Companies are Scams

Like the heading says, most cloud mining contracts are scams. Why?

Because it’s easy for companies to take peoples’ money, and then not pay out. A company can claim to be a cloud mining company without any proof of actually owning any hardware.

So remember: 99% of cloud mining companies are scams.

Which Companies Are Not Scams?

There are only two cloud mining companies we are willing to recommend on this site: Genesis Mining and Hashing24.

Just because they are not scams, however, does not mean that you will make a profit by buying contracts.

Hashing24

Hashing24 is one of the few cloud mining companies we are willing to even list here. The main reason is that they are partnered with BitFury, one of most well-funded Bitcoin companies who is also one of the few re-sellers of mining hardware.

Hashing24 sells lifetime contracts, so you retain your hash power until the contract becomes unprofitable.

For more info, see our Hashing24 review.

Genesis Mining

Genesis Mining is a Hong Kong based company although its founders are from Germany and attend many Bitcoin conferences. You can read more about Genesis Mining on their about page.

Genesis Mining offers three different Bitcoin mining cloud contracts. All plans are paid with a one time payment and are lifetime contracts:

Gold: 100 GH/s plan that costs $19.

Platinum: 2,000 GH/s plan that costs $340.

Diamond: 10,000 GH/s plan that costs $1,600.

Is Cloud Mining Profitable?

It depends what your goals are with cloud mining. If your goal is to obtain bitcoins, then there is really no reason to cloud mine or even mine at all.

You will get more bitcoins for your buck if you just buy bitcoins!

If you think mining is cool and want to try, then cloud mining still is not a good option. Grab a cheap USB miner and run it at home.

Just Want Bitcoins?

If you just want bitcoins, mining is NOT the best way to obtain coins.

Buying bitcoins is the EASIEST and FASTEST way to purchase bitcoins.

Get $10 worth of free bitcoins when you buy $100 or more at Coinbase.

Bitcoin Cloud Mining Comparison

There is not much to compare, because we personally do not recommend buying any clooud mining contracts so we will not spend the time to compare the two companies above.

But check back in to see if we find any new, legit cloud mining companies.

Bitcoin Cloud Mining Scams History

The reason there are so many cloud mining scams is because it is very easy for anyone in the world to setup a website.

Once the website is setup it can claim that the company has a large mining facility.

The company can act legit by sending initial payments to its customers. But after that it can just keep the already received payments for hash power and then make no further payments.

In just the last few months, two cloud mining scams were uncovered: HashOcean and Bitcoin Cloud Services.

What Payment Methods do Cloud Mining Companies Accept?

Most cloud mining companies accept Bitcoin, PayPal, and credit cards. If a cloud mining company accepts bitcoins then there is a good chance it is a scam.

This is because Bitcoin payments cannot be reversed. Once the scam company receives your bitcoin payment you have no way to get your coins back.

Are there Free Cloud Mining Trials?

No company would give away free cloud mining; this is basically giving away free money.

Any company offering free trials, especially if they require payment information, is most likely a scam.

How does Bitcoin Cloud Mining Work?

Cloud mining means a host company owns Bitcoin mining hardware and runs it at a warehouse.

You pay the company and rent out some of the hardware. Based on the amount of hash power you rent, you will earn a share of payments from the cloud mining company for any revenue generated by the hash power you purchased.

Cloud Mining Viruses

There have been viruses that land on computers and then use the computers’ power to mine bitcoins.

Run a malware detector on your computer if you think you may have come under attack.

Just buy Bitcoins!

If you just want bitcoins, don’t both with cloud mining. Just find an exchange in your country and buy some bitcoins.




11 Comments


  1. I think you guys need to make your REVIEWS right cus mining for a lifetime is great and you don’t have to worry about the hassle of getting your own rig aside from the noise it brings and maintenance cost and electricity. moreover, its cheaper buying a contract and the profit price you get won’t change but your Bitcoin value can increase and so its value.


  2. Great article for newbs. It is a delicate process to find the optimal settings when mining solo, that is for sure.

    I use Genesis Mining as a supplement because the ROI is so low these days(about 4 mnths on 24 mnth contracts) that it may very well be the best investment around.

    You have to research which coins will presumably rally the most and then go for those, but there are exceptions.

    Cloud mining just makes mining possible for the technically challenged, those who don’t want to keep getting new graphics cards and gear but also alleviates all stress factors for the pro miners.
    Either way, you may want to grab a discount if you do go for cloud mining, and genesis customers can share discount codes for newcomers such as this one: 809fKo

    Happy mining! May the hash be with you 🙂


  3. FAKE services, i wish i could have power to stop those kind of services.
    Do you guys really believe that there is one single server generating hash behind those cloud ? It’s only a software that calculate the fake profit based on your investment, divide by 12 months or something like that, put the (fake) maintenance fee on pocket and send the rest to the customers. There is no link with any mining pool, no hardware, no hash being generated only mathematics and programing.


  4. I can confirm that Genesis-mining and HashFlare.io are not scams.
    On genesis mining I have 2 TH (sha256) contract more than 1 year. payments are without problem.
    On HashFlare I had 1-year Ethereum contract without any problem with payments or support. Now I bought 130 MH Scrypt contract.

    BTW. HashFlare.io belongs to HashCoins – mining hardware manufacturer.
    Their new project is Polybous Bank


  5. You are right. Most of the bitcoin mining platforms are scams. One of such that robbed me is Hourly USD. Bits2x.com also made away with my friend’s money. I have a contract with Genesis mining and it’s not yielding profit. But Altcoiner is very good. They have been efficient and consistent.


  6. what are your thoughts on eobot?


  7. Hashflare offers bitcoin transfers as well. What is in my opinion better option then card or wire transfer. At Hashflare you can turn on “reinvest” option to automaticaly reinvest your gains from mining. I’m with them around half year and no problem so far. Withdrawal requests are fast, helpdesk is fast responsive. It’s definitely a worth of try!

    Genesis mining works well too – deposit with bitcoin, automatical withrawals, no reinvest option. Good thing is that you can buy contracts of various algorythms and mine various currencies which can be then auto converted to btc


  8. HashFlare has been around quite awhile now, going on two years and I gave them a whirl. Figure I’ll break even in 2 months. (2 months and 2 weeks, 2 week hold on payouts…similar to genesis month)


  9. What about Hashflare – they offer bank transfer and credit card payments. They have a telephone number in UK.


    1. I don’t know enough about them to comment, but you’re unlikely to make a profit with them.

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