Cloud-based cryptocurrency mining is becoming an increasingly popular method of extracting profit from blockchain verification. The following is a list of the most renowned and trusted cloud mining service providers in the industry.
Operated by hardware manufactures, Hash Coins, Hashflare has a considerable pedigree when it comes to crypto-mining and is staffed by a team of experts who’ve been in the business since the introduction of Bitcoin. This respected company features instant withdrawals, detailed front-end statistics and real-time monitoring. Plenty of verifiable information is also provided about its data centres as well as technical specifications.
* Update, 23.07.18 – On the 20th July Hashflare disabled its SHA software and with it all SHA-256 contracts due to the unprofitability of BTC. However, X11 contracts are still available.
- Backed by Hash Coins
- Instant withdrawals
- Detailed statistics
- Bitcoin withdrawals suspended
- SHA-256 contracts suspended
Official Website: https://hashflare.io
Genesis Mining is a trusted and well-known cryptocurrency cloud mining service that was founded in 2013. The company makes use of data centres in Iceland and offers mining contracts for most established cryptocurrencies. Featuring an intuitive dashboard, which allows for the easy allocation of hash power between digital assets, Genesis Mining is also highly transparent in its dealings. Mined coins usually need to meet a certain threshold before they can be transferred to a wallet.
- Solid reputation
- Easy-to-use interface
- Verifiable data centres
- Certain cryptocurrencies sold out due to popularity
- High transaction fees
Official Website: https://www.genesis-mining.com
Backed by renowned ASIC manufacturer, Bitmain, Hashnest was launched in 2014 so it’s been in the game for quite a while. With mining farms in China and other locations around the world with low electricity rates, it has become one of the more trusted cloud mining services in the business. Hashnest offers Payout Accelerated Cloud Mining Contracts (PACMiC) which require Bitmain coins to pay for the upkeep of mining rigs – all mining revenue is directed back to the holder of the PACMic contract. Hash power can also be purchased directly, together with a fixed maintenance fee.
- Backed by a major mining brand
- Verifiable data centres
- Two purchase options
- Antminer contracts sold out at present
Official Website: https://www.hashnest.com
NiceHash was founded in 2014 and is a cloud mining marketplace in which hashing power can be leased or rented. Unlike many other kinds of cloud mining/mining pools, it enables users to mine with any hashing algorithm and for most cryptocurrencies – those looking to buy hashing power are charged a 3% fee. The website is easy on the eye and well laid out with plenty of information regarding their services. It should be pointed out that unlike most other cloud mining services, NiceHash doesn’t own any physical hardware but is instead a kind of conduit between buyers and sellers of hash power.
- Multiple cryptocurrencies available
- Transaction fees shared with miner
- Allows miners to work with multiple hashing algorithms
- No merged mining
Official Website: https://www.nicehash.com