Bitcoin's Dollar Value Wreaks Havoc within Cloud Mining Industry
Bitcoin has seen a prolonged fall in its US Dollar price. This has had a large affect on many sectors of the digital currency community and ecosystem. The value of less valuable altcoins has seen a corresponding tumble in value. The day-traders and short-term speculators are bailing out of the market en masse. And the cloud mining companies, who have tried to get in on Bitcoin over the last 18 months with "Cloud Mining," are feeling the pressure. Plus, there are issues with paying off large loans for computer equipment, hosting services, rent and location leasing costs, all while keeping....
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Pavel Veselik from Maximus Coin on the Bitcoin cloud mining industry, its challenges and opportunities in the Czech Republic. Everyone can be an investor. Maximus Coin, a Bitcoin cloud mining company based in the Czech Republic, is quite a new industry player which focuses on developing New Age crypto-mining algorithms. The company aims to offer returns through their transparent, realistic and short-term investment plans. With the introduction of cloud mining it became easier to mine Bitcoin and other cryptocurrencies in the comfort of your own home without having to invest in huge data....
Earlier this year, the leading Bitcoin Crypto Exchange and Cloud Mining service provider Cex.io had suspended Bitcoin cloud mining services citing a drastic plunge in the cryptocurrency's price and an increase in network difficulty. "Mining with using User's Gigahashes can be stopped by CEX. IO if the amount of the Maintenance Cost exceeds rewards for each mined block or if the mining is economically inexpedient." Other cloud mining companies are also feeling the pinch of the falling price of Bitcoin. Founded in 2013, CloudHashing has put its ambitious expansion plans on hold in the wake....
Cloud mining service providers have been facing hard times ever since the Bitcoin price dropped below $320. Whereas major Bitcoin cloud mining service providers had to shut down operations for an undisclosed amount of time, new companies started appearing all over the internet. XScrypt is one of those cloud mining companies, but it looks like the “company” has gone bust after multiple issues with payouts. Running a cloud mining company is not as easy as it may sound. Not only does a cloud mining operator need access to mining hardware — either self-hosted or remote — but there are tons of....
Genesis Mining offers 5% discount on its cloud mining contracts. The holiday season is here! It has just been a couple of days since Thanksgiving. The weekend following Thanksgiving Day, better known as the “Black Friday Weekend” is well-known for amazing shopping offers. The same holds good in the cryptocurrency industry too. Genesis Mining, the most popular cloud mining service provider in the cryptocurrency industry has announced a new promotion as part of its Black Friday offering. In this festive promotion, Genesis Mining is offering a 5 percent discount on all cloud mining packages....
As we've been following for you here on CCN, Cloud Mining has been taking a beating with the precipitous drop in Bitcoin price over the lasts several months. The profit margins have become thinner and thinner, and now may be non-existent for many in the industry. Some reports have as many as 30,000 miners leaving the industry since BTC has entered the $300-and-below range. Many Bitcoin critics are eager to take this as a sign of Bitcoin's inherent weakness of value. Is that the case? Can this purging of clouded, corporate miners, in fact, be a good thing? In order to take advantage of the....