Cloud mining is a type of service for passive income from cryptocurrency mining.
The difference is that for this type of mining you rent the computing power of someone else’s equipment. Typically these are sites where you can buy various contracts or capacities. Miners who connect to the “cloud” accelerate crypto-mining and earn on it. Services that rent equipment earn on commissions and rental fees.
One of the main advantages of cloud mining is its availability: an investor from every corner of the world can sign a contract with any company, it is enough to have a smartphone and access to the Internet.
This is especially helpful for residents of those countries that have a high cost of electricity. For example, a French resident can buy a contract for a data center located in Iceland.
This type of passive income does not require any technical knowledge and specialization from the investor, all that is needed is to carefully choose the company and get familiar with the contract, check the capacity of the equipment and conclude an agreement for a certain period – then you can watch how the balance on the crypto wallet increases day by day.
Cloud mining is quite simple: you rent equipment for mining, while you do not need to buy it, set it up and monitor it – everything is done for you.
You pay a fixed cost, which includes maintaining the capacity and receiving cryptocurrency following the capacity of this equipment. You buy the hash rate, not the hardware itself.
The leading cloud mining services quickly realized that it is not worth skimping on equipment, because the more powerful it is, the more profit it gives.
One such example is the company GreenHashes: they gathered experts in the field of cloud mining and decided to switch to environmentally friendly cryptocurrency mining and powerful equipment. Only renewable energy sources are used: sun, wind, and water.
Company uses ASIC Whatsminer M20S 70TH/s and ASIC Antminer S15.Technical experts monitor equipment operation and regulate power from natural energy sources, which allows investors to earn passive income without effort.
The leaders of the tech industry do not stand aside and delight miners with their developments every time.
Intel shared details of its new Bonanza Mine ASICs for Bitcoin mining and how it combines 300 of these tiny energy-efficient chips into a powerful 3600W miner at ISSCC 2022. The company has switched to second-generation Bonanza Mine (BMZ2) ASICs and opened up pre-order access for customers.
The new generation chips have become even smaller, and their power has increased significantly: the hash rate increases to 137 Ghash/S and 55 J/TH. They improved energy efficiency (more than 5% compared to the previous model), processing speed (more than 50%), and data optimization (more than 33%).
What can improve the new hardware from Intel? Synergy with renewable energy sources: this will allow both the company and users to increase income. Therefore, GreenHashes have pre-ordered the Bonanza Mine line and will implement the new equipment in Q3-Q4 2022.
To start investing in Cloud Mining, it is enough to create an account on the GreenHashes website and choose one of the contracts: it differs in capacity, duration, and referral level. Do not forget to check the referral program: share useful information with friends and receive bonuses.
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