When the first cryptocurrency Bitcoin appeared, everyone could mine it using the processing power of a personal computer. With the development of the industry, mining became more difficult. In 2022, mining is still relevant and is one of the most promising areas for investing capital. However, many mining methods that generated income a couple of years ago are now irrelevant, because they simply do not cover the expenses. Solo miners, along with investors, began to look for other ways to increase the efficiency of the process and its profitability.
This is how Cloud Mining services appeared on the market, offering to mine cryptocurrency on rented equipment. Thanks to them, users got the opportunity to mine BTC without having to spend money on equipment, electricity, maintenance of data centers, and also take part in the technical process – everything is included in the fees of the company that owns the cloud service. It is enough just to buy a cloud contract, replenish the account and withdraw the mined cryptocurrency at the end of the contract.
If we talk about classical mining, then the payback period for equipment is 1.5-2 years. Previously, in addition to personal processors, a lot of people also mined on video cards. However, today it is no longer profitable, the world has switched to ASIC miners – special devices designed only for cryptocurrency mining. But it is not always realistic for an ordinary person to implement such a model. This is particularly the case in the bitcoin mining industry, where the cost of 1 ASIC exceeds $10,000. Therefore, many now say that mining is becoming more and more centralized – the number of small private miners is decreasing, and the main power is concentrated in the hands of large players.
With the availability of mining equipment, another indisputable plus of Cloud Mining is associated with a low barrier of entry. A cloud contract can be bought for a couple of hundred (and sometimes tens!) of dollars, while other methods require an initial capital of several thousand dollars. Here the user invests in the mining process. Moreover, the investors can diversify their portfolios by acquiring contracts of various types. As for profitability, the profit of online mining directly depends on the number of investments and the choice of the company. You need to work only with reliable and proven services that offer favorable contract terms and regular payments.
One of these examples is SunMining company: after the massive bans of cryptocurrencies in 2021 and the migration of miners, a group of professionals decided to unite and open a cloud mining service using a renewable energy source – the sun. It is a cloud service that has attracted even crypto-skeptics.
Register your account, choose the right package (they differ in price and duration) and get the profit every day: all packages and withdrawals on the SunMining platform are processed by default with a 0% fee. The income from your mining is accrued daily using an automatic payout system. Select any available capacity. Make payment for the selected order. After receiving your payment, your order will be activated.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Weiliang
Alex
Miyuki