[2015-02-02] CD: Spondoolies-Tech and Genesis Team Up for Cloud Mining Service

[LiteCoinGuy]

Spondoolies-Tech and Genesis Team Up for Cloud Mining Service

Bitcoin mining hardware firm Spondoolies-Tech is partnering with Bermuda-based Genesis Mining on a new cloud mining offering.

According to the two companies, Spondoolies will provide the hardware to back the virtual contracts sold, while Genesis will operate the machines out of their existing data centers. New hardware shipments from Spondoolies’ facilities for the cloud mining service will be conditional on demand from customers.

The demand-driven model is one both Spondoolies CEO Guy Corem and Genesis CEO Marco Streng predict will be successful despite a challenging environment for the mining sector. Other companies, including BitFury, are also investing in new cloud offerings regardless of recent problems in the market.

http://www.coindesk.com/spondoolies-tech-genesis-team-new-cloud-mining-service/

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[fryarminer]

How do scammers invent this stuff?! How do you answer the question: "how can I continue to get rich finding new ways to sell mining hardware when we have saturated the market to capacity already?"

[Lethn]

I'll vouch for Genesis at this point, I have hashing power with them and so far at least they haven't done anything wrong, they pay me very consistently, there are legit cloud mining companies out there but like with anything in cryptocurrencies there are too many scammers out there that the legit companies get drowned out.

[unamis76]

Spondoolies sqeezing a bit more profit, and Genesis joining the ride... I'd do the same if I was them