Tuesday, May 5, 2015

Genesis Mining


  This year has seen the arrival of a number of “cloud” mining services - companies that will sell you mining contracts and pay you out with the proceeds. Generally this means you’re renting mining hardware directly, and you get paid out with whatever that hardware produces.
Genesis Mining is a bit different, in that you don’t rent the hardware directly. Instead, you get a contract for a set amount of hashing power, which you can target against various alt-coins like DarkCoin, LiteCoin, etc.  At the end of the day, Genesis Mining converts your mining efforts back into Bitcoins and pays out into your own wallet.
The site has a nice dashboard that lets you allocate your hashing power to one or more alt-coins, or just set it to auto and they’ll calculate the most profitable coin to mine for you.

I signed up a bit over a month ago, and purchased a total of 6 MH/s, for 1.52954788 BTC, or about $940 USD at the time.  I’ve left the mining set to “auto”, so Genesis Mining can figure out which coin is the most profitable.
Here’s what my payouts have looked like since then (the date format is dd.mm.yyyy):

While I’ve made back 0.351144 (23% of my initial investment) in a bit over a month, you can see that payouts are definitely trending down. I’m happy with the payouts so far, but I would like to know, on a daily basis, just what my MH/s are being used to mine.
I’ll update again in the future to show how it’s going. Hopefully, I’ll at least break even by the 6 month-mark.

 GENESIS-MINING.COM is a well-established X11, Ethereum and Bitcoin cloud mining provider. They are the largest Bitcoin cloud mining provider and furthermore are now offering Ethereum/X11 mining contracts as well. All their bitcoin contracts are lifetime contracts, which is a big plus! Currently, they have 3 undisclosed locations in Europe, America and Asia. They represent their service on all the important Bitcoin conferences / events and are more transparent than any cloud mining service out there! GENESIS-MINING.COM aims at the average Joe and as well at the bigger investor. They aim to be one of the most competitive cloud mining providers out there. You can start off with a 100 GHS (Gold) Bitcoin mining contract for 26$ to get a nice overview of the service they provide. If you look for something bigger you can purchase 2000 GHS (Platinum) for 499$ or 10000 GHS (Diamond) for 2400$. Their website is very clean and has a very appealing design. We really like how easy it is to set up an account with them and start mining. When you signed up, just fund your account with some Bitcoin and choose a mining plan that suits your needs. If you don’t want to pay with your precious Bitcoin you can pay by bank transfer, Litecoin, Dogecoin and Darkcoin or Credit Card.

Once you got your account funded with GENESIS-MINING.COM you will start to mine instantly. Owners of a Bitcoin mining contract do not need to do anything, just watch and see yourself how the Bitcoins are flowing in, however if you bought / own a X11 mining contract now is the time to allocate your hash power. You can allocate all your hash power to AUTO, which will mine the most profitable coin and exchange your earnings to Bitcoin for daily payouts. But that’s not it, what really made us happy and excited to see is that you can split up your total hash rate to different coins. As of February 2016, you can distribute your hash power to: AUTO (Bitcoin), Dash, Litecoin, Dogecoin, BitcoinDark, PeerCoin, Namecoin and CureCoin. You are even able to vote via a Facebook poll which coins that they should add next into their mining portfolio. This clearly proves that GENESIS-MINING is listening to a lot to their customers and their desires. The ability to mine your own portfolio of Altcoins remains unique in the cloud mining world and is only provided by GENESIS-MINING. This is definitely a step in the right direction by giving the customers more options on how to use their X11 mining contracts. GENESIS-MINING.COM has not only a very appealing design but scores as well with an outstanding mining dashboard. Within the dashboard, you can see your current mining stats, earnings in US Dollar, mining allocation and transactions. If you decide to add more hash power you can do this easily by clicking upgrade hashpower while logged into your account.

To manage your account information, wallets for the different coins and to add two-factor authentification simply click my account. Their support is outstanding and they will address any questions or issues very fast! GENESIS-MINING.COM is a very customer orientated company and does everything to make you happy. We highly recommend them and we are sure that they will remain growing bigger and bigger in the cloud mining business.

User friendlyness?

+ Fast, easy and free signup
+ Fast and friendly support, quickly responding and resolving occurring problems
+ Investments as low as 100 GHS / 1 MHS

Website functionality?
+ Easy to understand and to operate dashboard
+ Very well thought design and general functionality
+ Mine your own Altcoin portofolio
+ Two factor authentification
+ Refferal / promo code system
– No option to trade or sell your KHS/MHS


+ Street adress
+ LinkedIN accounts
+ Telephone number
+ Pictures/Livestreaming of their hardware
+ Representing their service at the most important Bitcoin events / conferences

+ Low price per GHS / MHS
+ No hidden fees


  1. Claim free satoshis at Moon Bitcoin. 290 satoshi every 50 mins.

  2. YoBit lets you to claim FREE CRYPTO-COINS from over 100 different crypto-currencies, you complete a captcha one time and claim as many as coins you want from the available offers.

    After you make about 20-30 claims, you complete the captcha and resume claiming.

    You can click on CLAIM as much as 50 times per one captcha.

    The coins will safe in your account, and you can convert them to Bitcoins or USD.