Ethereum Cloud Mining

Ethereum Cloud Mining

How Ethereum Mining Works

Just like with other cryptocurrencies, mining Ethereum requires a huge amount of computing power. While there are a few differences, such as the algorithm used, mining Ethereum is similar to mining Bitcoin. Miners receive rewards for solving highly complex mathematical equations by taking advantage of Blockchain technology. Ethereum runs on a worldwide peer-to-peer network with no central authority. This allows anyone to use the cryptocurrency safely and reliably, as distributed computing networks are highly resistant to fraud, hacking or government censorship attempts.

Why Mine Ethereum?

Even though it’s not possible to predict how any cryptocurrency will do in the future, many crypto experts have expressed highly positive opinions about Ethereum. It’s now one of the most popular crypto coins in the world, alongside Bitcoin and Litecoin. The price of Ethereum has increased significantly. Around a year and a half ago, the price was $1, but it’s now over $300. The coin’s rapid rise in value has encouraged many cryptocurrency entrepreneurs and investors to start mining it.

Ethereum Cloud Mining Farm Example : Enigma

As the popularity of Ethereum has grown exponentially around the world, so has the number of people interested in mining the cryptocurrency. While it’s possible to mine it by deploying hardware based Ethereum mining rigs at home or in an office, many miners prefer to purchase cloud mining contracts. Cloud mining allows cryptocurrency investors to make interesting profits without having to worry about acquiring, installing and maintaining their own mining hardware.

Genesis Mining is a provider of cloud mining services. Theyve been around since 2013 and provide a variety of innovative cloud mining solutions to clients from all over the world. Enigma, out Ethereum mining farm is currently the biggest Ethereum cryptocurrency mining farm in the world. As demand grows, they add more Ethereum mining rigs on a regular basis.

Getting started with a Ethereum mining service like Genesis Mining is very easy. All you need to do is to select a cloud mining contract based on your desired ROI, which determines how much hash power you have access to during a two-year period.

Their facility uses state-of-the-art GPUs to mine coins for you 24 hours a day, 7 days a week. All of our hardware is maintained by a team of professional technicians and engineers who keep an eye on everything to ensure optimal uptime for the 200,000 cryptocurrency miners that use our services. We’ve recently reduced our price of mining Ethereum to just $29 per MH/s to give miners a greater ROI.