Top Cloud Mining Legit Companies 2020
Have you heard about cloud mining? Let’s be clear – There is no involvement of actual clouds here. When you sign up for a cloud mining plan, you can start mining bitcoin or any other cryptocurrency of your choice without owning any mining hardware.
Crypto mining has started gaining traction with the rise of Bitcoin and other cryptocurrencies. However, many cryptocurrency enthusiasts couldn’t get into cryptocurrency mining because of huge upfront costs.
What was the high upfront cost in crypto mining? Well, the equipment required in crypto mining is very costly first of all. Then, there are electricity and maintenance costs on top of it. Hence, cryptocurrency mining becomes a very costly affair.
Regardless of all the challenges, crypto enthusiasts were still interested in getting on the bandwagon of crypto mining. This led to the creation of a market need and soon some companies and people with entrepreneurial spirit took it upon themselves to make cryptocurrency mining affordable.
There are many Cloud Mining sites but only a few that are really legit and well-performing. We list the best Cloud Mining sites from legit companies of 2020.
Cex.io was the first company to offer cloud mining and they were soon followed by others. The success of cloud mining attracted some unscrupulous elements too. There was a huge uptick in the number of scam cloud mining companies.
Are you afraid of signing up for a scam cloud mining company by mistake? There are lots and lots of cloud mining providers today in the market. It’s but natural that the reputation of cloud mining companies has been anything but good. There’s no need to worry as we have brought this list of top eight cloud mining companies just for you.
We look at Ecos Mining as the poster boy of the legitimate cloud mining industry. Do you know one awesome fact about them? They are also a partner in a power plant! Yes, you heard it right. They are one of the major shareholders in the Armenian Hrazdan Power Plant. Thus, Ecos Mining benefits from cheaper electricity that they receive from the Armenian Hrazdan power plant.
Ecos Mining is also the co-partner of the Armenian government – They have established a FEZ, known as Free Economic Zone together. That’s where Ecos Mining has it’s own data center as well. They don’t even have to pay profit tax or VAT as they are operating from a free economic zone. Their contract price per Th/year is $19.69 and they offer an earning return of 144% every year. Wanna read a detailed review of Ecos Mining?
Oxbtc is one of the leading cloud mining service providers in the market currently. The company behind Oxbtx is known as Shenzhen Halley Cloud Technology Co., Ltd. It used to be known as Zeushash in the past. The Shenzhen-based company has more than 800,000 customers around the world. They have already issued over 30,000 BTC to their cloud mining customers.
Oxbtc has eight mining farms, some of which are in China and others are in the United States, Kazakhstan, and Venezuela. The interesting fact about them is that the company behind Oxbtc also manufactures Panda miners. Their contract price is 0.0364$ to 0.0497$ / TH/s / Day and they offer an earning return of 178% every year. Wanna read a detailed review on Oxbtc.com?
Bitdeer is based in Beijing and offers cloud mining services to users throughout the world. It doesn’t limit itself to any particular geography or location. They have a variety of cloud mining plans for crypto enthusiasts interested in cloud mining services.
The great thing about their plans is that they are quite flexible. The company also has partnerships with some of the leading mining pools like BTC.com. Their contract price is $10.53 per TH/s for 1-year. Wanna read a detailed review on Bitdeer.com?
When it comes to Hashnest, we can safely trust them. They have built quite a reputation in the cloud mining industry. Hashnest has been offering cloud mining services to crypto mining enthusiasts since 2014. It is a part of the Bitmain ASIC company!
Are you wondering why I am stressing on the company name – Bitmain ASIC company? It is because this company also owns BTC.com and Antpool.com. These two are the largest mining pools globally. Their contract price begins at 20USD per TH of computing power.
Bitcoin.com is a domain name that resonates with every crypto enthusiast. It is at the forefront of the cloud mining industry. The great thing about them is that Bitcoin.com delivers a pretty high pay per share to its users. It is as high as 98% of the block rewards!
It offers services as a regular mining pool if you own mining equipment at your home. Additionally, Bitcoin.com also offers cloud mining services. You can rent TH mining power from Bitcoin.com for a duration of 6 months to 2 years. Their daily cost per TH of computing power is 0.1 to 0.14 USD and the contract price per year/TH starts at $25. Click here if you want to read a detailed review on Bitcoin.com.
The UK-based Cudominer is one of the handfuls of legit cloud mining service providers. It is a cloud mining software provider and Cudo Ventures is its parent company.
If you are someone who believes that companies should care about being carbon neutral then you would love Cudominer. It is because Cudominer claims that it is a carbon-neutral company. They are adamant about their belief that blockchain and crypto space has the potential to change the world for good.
You can use the Cudo Miner software to mine Beam, Bitcoin Gold, Grin, Monero, Vertcoin, and a few more There are more than 100,000 users that are already using Cudo Miner. There’s no upfront cost but its pricing is based on a fee on mining done in the past 30 days. Click here if you want to read a detailed review of Cudo Miner.
Genesis mining has built a strong fan following among the crypto mining enthusiasts. It has been in operation since 2013 and is serving over 2 million customers currently. That’s no small feat by any means. Its mining centers are located in Iceland. They have provided legit videos and photos of their mining data centers, which can be verified on its website. Their cost of electric power per TH/day is 0.03 USD and its contract price per Th/year starts from 52.25 USD. Do you want to read a detailed review of Genesis Mining? Click here.
Hashing24 is a trusted cloud mining service provider. They have been offering cloud mining services in partnership with Bitfury since 2012. Their data centers are located in Norway, Georgia, Canada, and Iceland. But all these data centers are owned by Bitfury. Yet, this fact is not hidden by Bitfury as they mention Hashing24 on their site. It means that Hashing24 only sells the hashing power of Bitfury and doesn’t own mining data centers of their own.
The cost of electric power per TH/day is 0.15 USD and their average contract price per Th/year is 0.0076 BTC. Wanna read a detailed review on Hashing24?
Cloud mining is not as profitable as it used to be in the past. Yet, there’s still a lot of earning potential when it comes to mining cryptocurrencies. It depends on what cryptocurrency you choose for cloud mining. We suggest that you conduct in-depth research on your own and measure all available cloud mining plans. Then, you should match those plans with your expectations and decide if you want to opt for cloud mining.
If you want us to review any cloud mining companies not on our list that you came across then you should surely reach out to us. Register for our email updates today for regular updates about legit crypto earning opportunities.