Bitcoin is created by the act of mining. The members of the network provide their computational power for calculations of mathematical problems, and for this effort, they are rewarded with bitcoins. However, the more members are mining, the more competitive is gets.
Computers are really good at solving these mathematical problems, so the Bitcoin network purposely makes the solution more and more difficult, otherwise, all of the bitcoins would be mined in a couple of minutes. This is why there exists much highly specialized hardware on the market, their only purpose being exclusively Bitcoin mining.
As new models come out quite frequently, everyone must regularly optimize their mining gear, in order to stay competitive. Once a new mining rig is introduced to the market, the old ones quickly become outdated and therefore unprofitable.
At the same time, this gradual development of the technology increases the overall difficulty of mining again. The result is a never ending circle of the constant need to optimize. This explains why it’s a must to start with the best available hardware and to start immediately in order to mine profitably for as long as possible as not to lose a minute of precious mining time.
Genesis Mining offers you a smart and easy way to invest your money. Our bitcoin mining system is suitable for those who are new to the world of cryptocurrencies, as well as for cryptocurrency experts and large-scale investors. Genesis Mining is the world’s first large-scale multi-algorithm cloud mining service offering an alternative to those who would like to engage in Bitcoin and altcoin mining.
We are a team of experts in the digital currency sector, and our bitcoin mining algorithm is designed to provide the most efficient and reliable bitcoin mining rentals.
No matter which package you choose, you are renting the latest technology, which guarantees profitability for as long as possible. Also, the rigs you rent consume very cheap electricity and are cooled efficiently, thanks to the optimal locations of our farms. To top this, there is no waiting for delivery and no downtime, which means you are not wasting even a second of mining.
Time is valuable, but it is more valuable on the Bitcoin market! See more in the pricing section.
|Costs of a contract with Genesis Mining||Costs and externalities of having your own hardware|
|One-time price of purchasing the contract||Price of the hardware|
|No extra fee||Shipping costs|
|No extra fee||Possible customs costs|
|Best electricity rates possible. 100% green energy||Usually high electricity rates|
|You start mining immediately!||Waiting for delivery – you are losing days, even weeks of mining time, and your purchased hardware is already losing its value|
|We guarantee 100% uptime and cover system downtimes by using our own miners.||Loss of mining time due to system downtimes|
|No extra fee||Cost of additional equipment|
|No extra fee||Electricity consumption of additional equipment|
|No extra fee||Cost of cooling|
|Hardware is at a remote location, you are exempt from excessive heat||Excessive heat|
|Hardware is at a remote location, you don’t have to deal with loud noise||Loud noise|
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