Genesis Mining Ethereum Contracts are again available
But is it still worth it?
Today 23rd of January 2018, Genesis Mining released a Limited pre-sale for existing customers only. What does this mean? Well, it meant that you need to be a previous customer and had purchased any hashpower before 22nd January 2018.
Why Genesis Mining Contracts?
Genesis mining, has been around since 2013. It currently owns mining farms located in Europe, America, and Asia but exact locations are not known to the general public due to security reasons. Genesis Mining is the most transparent cloud mining company and not a scam. It is arguably the largest and most popular cloud mining provider for Bitcoin, Ethereum, and other altcoins.
It has even registered with the SEC for a Bitcoin mining fund.
Note that this does not mean Genesis Mining is profitable but means that Genesis Mining honestly provides the services it offers.
Is It Profitable To Mine Ethereum?
GM Ethereum contracts are 2 years and without any maintenance fees and the contracts only starts on 30.04.2018. Let’s take their Medium packaged that is 120 MH/s for $4440 and see how much profit is.
You will break even in approximately 323 days, keep in mind that this can change because mining difficulty can increase but also the value of ethereum will most definitely increase. You will have one more year where everything you mine is all profit.
In this chart you can see the mining profitability is pretty high compared back in October 2017, it’s about three times as profitable now to mine ethereum as it was back in October so obviously this chart fluctuates.