1st June 2016 Updates.
Mining SwedenMining Sweden has decided to stop Cloud Mining.
You can find out more about and this why they have decided to do this here.
https://www.miningsweden.se/news/They attribue rising Bitcoin difficulty, negative and angry emails and the forthcoming Bitcoin halving as some of their reasons for their decision.
According to Mining Sweden, VIP shares will still carry on as they are linked to the company, not the mining part although I have doubts that the company will even exist in a year or so.
If you search on the forums, quite a few threads about Mining Sweden and peoples feelings already.
Hashnest.S5 HashpowerSince my last post and due to rising Bitcoin difficulty, my S5 hashpower has now gone to the hashpower graveyard.
Some history on the S5 contract.
I purchased this hashpower on the 21st June 2015, so just over 11 months ago. Small amount, just 50GH/s for payout comparison.
Cost for this contract was
0.07202624 BTC Over the time I had this contract until the day it died, the total amount of payouts before fees was
0.10214226 BTCThe Maintenance charges for this contract during the 11 months were
0.05807448 BTC You then have to deduct the fee from the total payout.
So after deducting the fee from the payouts, which is
0.10214226 BTC -
0.05807448 BTC, the actual amount I was paid in 11 months was
0.04406778So over 11 months after deducting the original purchase price from the mining payouts after fees, I had a loss of
0.02795846 BTCSo did not make ROI at all, I could of course have sold my hashpower at anytime but I still would have most likely have still made a loss anyway as even a month or two before the S5 hashhpower stopped, the price for selling 50 GH/s was quite little so I still would have made a loss, plus whole purpose of my thread is to do payout history and this is why i buy small amounts so that if i do lose something, it is normally quite small and is something I can handle.
S7 Hashpower and other Hashnest related thingsMy S7 hashpower is still going and I will post payouts for that below with the others from Genesis Mining
With Bitmain now officially announcing the S9, at some point no doubt Hashnest will be offering hashpower for this on their marketplace so keep an eye out for that and pricing. Some people have profited in the past, for example when the S7 came to the site, by buying miners on preorder and then selling the hashpower from it on the first trading day.
Genesis MiningA few things happened with Genesis Mining.
First the bad news.
Just like Hashnest some contracts have died, due to rising difficulty prices and the daily fee becoming more than the payout itself.
I will show payout info for the contracts that still remain.
Perhaps it might be best if you are wanting to invest in SHA 256 to wait for the halving, hold on to your Bitcoin and then see what the situation is like then. I think SHA 256 Bitcoin Cloud mining no matter who the provider is, are pretty risky at the moment. Of course my opinion only but one only needs to read up on the forums and see other comments about cloud mining etc at the moment and that should give you a clear idea.
Now the good news from a Genesis Mining point of view.
Genesis Mining lowered the pricing for ETH and SHA 256 contracts.
ETH contracts are now priced at 37 USD per MH/s (from 44USD per MH/s)
Personally i think this is still way too expensive but they have their own reasons, but for me it just seems more logical if you can purchase a good AMD GPU that can mine at around 20 MH/s and above and mine at home yourself if you can.
Current SHA 256 contracts are priced in 3 different pricing stages.
100 GH/s is 19 USD or around 19 US cents per GH/s
2 TH/s is 340 USD or around 17 US cents per GH/s
10 TH/s is 1600 USD or around 16 USD per GH/s
As you can see, the more you purchase in one go, then the cheaper the price gets per GH/s
Hashnest vs GM pricing currentlyThe daily maintenance fee for newly purchased Genesis Mining contracts are around 0.0004 USD per GH/s per day or 0.40 USD or 40 US cents per TH/s.
This is cheaper than Hashnests Maintenance fee for S7 hashpower as that is eqv to around 0.60 USD or 60 US cents per TH/s.
But, purchasing Hashpower on Hashnest on the marketplace is alot cheaper.
For example when looking at the time of writing, purchasing 2 TH/s of S7 Hashpower on the Hashnest market would cost about 0.22 BTC or currently around 117 USD with BTC/USD exchange rate.
Genesis Mining are charging 340 USD for 2TH/s which was around 0.637 BTC at the time of writing.
But do not forget that Hashnets market is based on users buying and selling and they dictate the price so you could find that as soon as you buy hashpower and then a few weeks later want to get rid of it, you might find that you will have to sell it at a loss even including the payouts you have had already.
Just to clarify, once you purchase Hashpower with Genesis Mining, you can not sell it or trade it or anything like that, although I guess you could sell it if you wanted to another user but then that is most likely not supported by Genesis Mining so if you then email them with a bought account and they do not support you or help you out, then that is a risk that you decide to take.
So thats the update for now, will now post latest payout info for today below.
