Traditional Bitcoin mining works in a similar way to cloud mining. However, instead of renting out computing power, you will be buying and setting up your own equipment. This process is more complicated and often requires a larger investment.
You will also need to factor in the cost of electricity when setting up your own mining operation. This is because BTC mining is an energy-intensive process. The more powerful your equipment, the more electricity it will use.
Moreover, traditional mining can be hard on your equipment. The constant running of the fans and processors can cause them to wear out over time. This is why it's important to factor in the cost of repairs and replacements when calculating your profits.
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Thanks to some great partnerships we have established with hardware producers, as well as to our large scale purchases, we get better prices on our employed technology. This means we buy the hardware cheaper than the market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms around the globe, and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.
There is much beauty in purchasing and setting up your own mining operation, we know that. But setting up mining rigs are for those who are skilled technicians, can solve tricky complications, and generally see the fun in maintaining a complex construction. Cloud mining is for those who want to have the benefits of cryptocurrency mining without maintaining any mining equipment. For most people these are annoying, unnecessary difficulties, and our solution is targeted exactly at them.
There are many who tell us that they can mine cheaper by themselves according to their calculations. However, it always turned out that they forgot about one or more of the above listed costs. We did our calculations, and we think it’s impossible to have better mining performance on a smaller scale, at home and by yourself. Take a look at our hash power offerings and start cloud mining today.
Mining Bitcoin is how new coins are created. Miners are rewarded with cryptocurrency for verifying and adding transactions to the blockchain. This is done by solving complex mathematical problems with high-powered computers.
The more powerful your equipment, the more math problems you can solve, and the more rewards you can earn. However, this also means that your electricity bill will be higher. That's why it's important to factor in the cost of electricity when setting up your mining operation.
You can cash out your earnings or use them to buy other assets. Many miners choose to reinvest their earnings back into their operations to buy more equipment and increase their profits.
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Your bitcoin and account are secured with our advanced security features. No one can access your newly mined bitcoins except you.
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