New Genesis Mining Contracts – $6k Investment nets $12k reward!
Genesis Cloud Mining opened up sales for a new batch of mining contracts this week (Tuesday November 21st 2017) and like most sales in the Crypto world, they are Pre-Order for March 2018. I have been looking at Genesis for a while now as an option for those friends and family’s that don’t want noisy hot miners in there houses. I am also accustom to the pre-order queue and so this doesn’t bother me too much. I had to wait 6 months for my Butterfly Labs kit!
The contracts are Lifetime contacts meaning that as long as its profitable the mining will continue. Once a Non-profit state has accrued the mining contract terminates. If projections of BTC are true and it hits $10K buy Feb 2018 and possible $20k buy end of 2018 we could see these contracts run for a long time (Anything over 1 year in Crypto is a Looong time)
Genesis Mining 40.000 TH/s Bitcoin Hashrate Purchase
I could not recommend anything unless I would be willing to invest myself so I did some sums and the return for very little effort looks really good.
Pool fees for the Bitcoin contract works out at $0.00028 per GH/s purchased per day then this is subtracted from your daily earnings. The remainder is paid to you in BTC daily.
If we base this on today figures (difficulty and BTC price), please bear in mind difficulty rate and value of BTC affect the pay-outs. We should expect to see the difficulty increase (making pay-outs less) but also the price of BTC is increasing so its really hard to judge what will happen in 6 months time, all we can do is speculate on todays figures and a mix of projections, history and pure grit to make a decision on what to do. lets cover the tangible things we know.
40,000 (hashrate) x 0.00028 (pool fee) = $11.20 per Day
based on the initial daily pay out of about $60.59 this would work out to a pool fee of approx. 18.5% but expect this % to increase as time goes on but the $11.20 will be fixed.
Genesis Mining 125 Day ROI
That works out to appox. 125 Days ROI for very little effort. Someone else is doing the hard work of looking after your miners.
From a $6,171 investment (or 0.75 BTC) after 1 year you could see as much as $18,022 return (according to CoinWarz Calculator)
What I am interested in seeing, is how much BTC is returned to me once mining has started, will it be as projected (2.69BTC)? will I actually get my 0.75 BTC back and then some?
- Order Created: 21st November 2017
- Algorithm: Bitcoin
- Hash power: 40 TH/s
- Currency: USD
- Price in $: 6,171.96
- Price in BTC: 0.75
- Contract daily maintenance fee: USD 0.00028 per GH/s and day
- Mining Starts: 15th March 2018
What I am expecting to see here is a return of my 0.75 BTC (Makes me happy as I have my ROI back) and then some more BTC as my pure profit. Could be as high as another 2 BTC by the end of contract
How much will 2 BTC worth this time next year? $10K or maybe $20K?
Next update on this: When the mining Starts in March 2018