Also Read: Bitcoin Mining Rig: All questions answered
- What is Genesis Mining?
- Origin of Genesis Mining
- Genesis Mining Pricing
- Why is Mining so Important?
What is Genesis Mining?
Genesis Mining is a cloud cryptocurrency mining company. This world-class cryptocurrency company allows users to mine cryptocurrency without going through the trouble of buying a mining rig and paying outrageous electricity bills.
They are one of the most transparent hosted hashpower provider for bitcoin.
Origin of Genesis Mining
Genesis Mining was established in late 2013. The creators of this world-class cryptocurrency firm came to know one another by buying and selling Bitcoins on the very same platform.
As the bitcoin mining firm and its number of users increased, new mining farms were created and numerous new staff, specifically programmers and technicians, were employed.
The present bitcoin mining team members come from different scientific disciplines, but their shared belief in cryptocurrencies has made them united.
The current members made up of people that believe in the future of digital assets and they are active members of the growing community.
Genesis Mining Pricing
Genesis Mining offers 4 varieties of financial products. They are:
Radiant Small (starter)
This is the lowest plan offered by genesis. This plan comes with a megahash rate of 12.5 MH/s costing $499.99 for a 24 months worth of ethereun mining. It uses Ethash Mining Algorithm and features zero maintenance fees.
Radiant Medium (best buy)
This is the best plan according to users offered by genesis. This plan comes with a megahash rate of 25 MH/s costing $999.90 for a 24 months worth of ethereun mining. It uses Ethash Mining Algorithm and features no maintenance fees.
Radiant Large (Professional)
This is the best plan for professionals offered by genesis. This plan comes with a megahash rate of 125 MH/s costing $4999 for a 24 months worth of ethereun mining. It uses Ethash Mining Algorithm and features zero maintenance fees.
Radiant Custom Plan
This plan is for users who would prefer to opt for a plan outside the other three plans offered by this transparent hosted hashpower provider. Subscribers can create a custom ethereum mining plan that best suits them. They will be charged according to the directed specifications.
Why is Mining so Important?
To operate safely, cryptocurrency networks require processing power. Thousands of computers worldwide operate the world’s greatest blockchains.
BTC and other cryptocurrencies, unlike conventional money, are created mathematically and stored digitally. Miners are individuals who willingly give their processing power to protect these cryptocurrency ecosystems.
Cryptocurrencies do not have a centralized government or any so-called “middlemen” who make decisions regarding the system’s destiny.
Also Read: What Is Wrapped Bitcoin?
What is the incentive for miners?
It all boils to trust, miners ensure the integrity of blockchains and they are compensated for their work.
Miners evaluate and validate the operations of cryptocurrency ecosystems while also maintaining and securing their public transaction histories.
If you are looking to mine crypocurrencies without the stress of having to setup your mining computer. Then you should definitely check out Genesis Mining. This cloud mining platform takes away the stress of mining crytocurriences from users.
Is Genesis Mining legit?
Genesis Mining is one of the most well-known world’s leading cloud mining companies. Most users regard them as reliable partner. They are a trustworthy cloud mining firm that displays their farms in public. Genesis Mining is a significant mining company who has shown to be a dependable and loyal business partner.
Is Genesis Mining still profitable?
Genesis Mining allows users to mine cryptocurrencies for gratis without having to buy or maintain hardware. Nevertheless, if you do a number of calculations, it looks like a lot of your Genesis Mining investment might be forfeited to your financial institution in a very long period of time.
What does Genesis mining do?
Genesis Mining is the world’s leading supplier of bitcoin mining operations and altcoin (other digital currencies) cloud mining. They are readily able to provide their user base with small, medium, and large mining offers. Multipooling tools enable the processing of altcoins into Bitcoins, which are then transferred into client wallets in customer accounts on a regular basis.
Can I get 1 bitcoin with bitcoin mining?
Instead of mining one Bitcoin, crypto miners can mine one block, with the payout fixed at 6.25 BTC for each block. It takes about ten minutes to mine one Bitcoin block. This implies that, in principle, mining 1 Bitcoin as a fraction of the 6.25 BTC payout will take only a few minutes.