BTC Cloud Mining with Hashing24: Is It Worth It?

16th February 2022

The digital transformation of the global economy is so intense and all-conquering that the phenomena of economy tokenization, blockchain and cryptocoin adoption prevail in the modern day fintech sector. More and more people have a keen interest in cryptocurrencies (Bitcoins, Ethereum, Dogecoin, Avalanche, Chainlink or any other randomcrypto by comparison) and some start mining cryptocoins as opposed to purchasing or trading coins on cryptorival exchange sites like Coinbase, Binance and alike. In this context, crypto cloud based mining is trending because it is one of the easiest ways to get crypto, diversify financial portfolio and make passive income online. This article is devoted to BTC cloud mining services rendered by renowned Irish company Hashing24.

To put it simply, crypto cloud mining is the process of crypto currency mining by using a remote enterprise-scale mining data center(s) with shared processing hash power. People lease a certain volume of hashrate to mine crypto via the cloud by purchasing mining contracts at specialized websites. A great deal of such cryptonote websites offer mining calculators to calculate mining profitability. There are different varieties of calculators:

          Crypto calculator

          BTC calculator

          Altcoin calculator

A mining calculator (for instance, Bitcoins mining calculator) is a useful interactive tool to measure mining calculator profitability via the mine calculator. As in the case of Miningpoolstats website, a mining profitability calculator would have been an excellent addition for any miner calculator to project cryptocurrency mining profit calculator, forecast calculator mining via the mine profit calculator. Concurrently, there are so many crypto mining calculator tools available toll-free via the internet that any crypto enthusiast or miner can make use of the aforementioned functionality in real-time.

Let us take a closer look at the Bitcoin Mining Profitability Calculator powered by Hashing 24 and cryptocompare its performance, efficiency and find out its strong and weak points. To begin with, one does not need to use any formula to make calculations via the estimator. In order to compute if it is profitable for miners to mine Bitcoins via the cloud, one may enter the following mines parameters to evaluate profits and losses risks: block reward, Bitcoin hash rate power measured in Terra Hash per second, getdifficulty ratio, current BTC blocks mining network difficulty, current BTC mining network transaction rates speed, and BTC price (current and future calc compare). Once all calculation parameters specified, the mining calculator will display the mined earnings indicators, which include the daily, weekly and monthly income at the current and future exchange rates of the BTC digital cash.

To cut it to the chase, the website has been operating on the BTC cloud based mining market since 2012 onwards. It is headquartered in the Republic of Ireland (European Union) and its main and most influential supplier of BTC hashrate capacities is private-owned BTC mining conglomerate Bitfury Group. The latter is also a world’s leading manufacturer of BTC mining hardware (high capacity next generation ASICs and chips), integrated blockchain based solutions and AI technologies. By forging a successful partnership with Hashing 24 back in 2014, the latter has gained access to massive Bitfury’s mining data centers and pools scattered all around the world. To put it simply, Hashing24 acts as a reseller of the BTC hashrate capacities produced by large enterprise-scale companies and lets its users mine BTC without paying sky-high bills for electricity, maintenance costs, mining rigs, software and so on and so forth.

Differentiating Factors of Hashing24

  • Excellent entry and exit points for investments in cryptocurrency cloud mining
  • Instant BTC mining of new crypto currencies via the cloud.
  • Daily payouts and easy withdrawals to a recipient’s wallet address.
  • Mammoth BTC hashrate volumes.
  • Unique Trading Room for buying, selling, hodling BTC mining contracts.
  • Demo mining (toll-free).
  • Detailed and easy to use BTC mining calculator.
  • No cryptojacking cases up to date.
  • 24/7 customer support.

Notably, Hashing24 eliminates the nagging problems connected with high energy consumption by mining rigs on the farms, high wattage issues and chart force. As such, platform users simply purchase a Bitcoin mining contract with specified parameters (hashrate volume and contract duration) and mine BTC online while staying at home. The website does not charge any maintenance fees for purchasing BTC mining contracts. The minimum amount per 0.1 TH/s is nearly 8 USD and the maximum amount per 1000 TH/s totals 146965 USD.

In order to start using the BTC cloud mining services rendered by Hashing24, a person is required to register a user account on the website. The onboarding procedure is quite quick and secure (about a minute or two). There is no obligatory requirement to complete AML/KYC verification. Once registered, the user can navigate to the Prices tab and select the preferred BTC mining contract. There are the following contract duration types: 12, 18 and 24 months plans. It is necessary to select the preferred hash power (in TH per second) and make a one-time payment. The payment can be made in Bitcoins or fiat currencies like USD or EUR.

Additionally, the user can deposit funds straight to his or her account balance. There are the following deposit options: BTC, altcoins (USDT-ERC20, LTC, EOS, YFI, USDC-20, UNI, SNX, OMG, LINK, DAI, AAVE, XLM, BCH, XRP, ETH), Asian local banking (IDR, MYR, VND). With regard to withdrawals of mined coins, the user is entitled to withdraw funds in the amount not less than 0.0007 BTC. The withdrawal fee totals 0.0005 BTC.

It is also worth pointing out that the platform has an excellent trading tool called Trading Room. Users can trade (buy and sell) BTC mining contracts as orders on the Trade Desk. Technically, the functionality is a symbiosis of traditional crypto trading and mining services. Traders can speculate on price fluctuations, build and polish their personalized trading strategies or simply HODL. The trading fee equals 5% and traders can split and merge their mining contracts in accordance with market conditions. The user interface is amazingly simple and intuitive and the trading engine algorithms are entirely automated.

For those who still doubt whether to start BTC cloud mining or not, the website offers an excellent feature called Demo mining. It is absolutely free of charge and allows users to demystify the intricacies of Bitcoin mining, project their future ROI or losses (in case of fierce market conditions) in real market circumstances. The number of Demo mining contracts available for activation is unlimited.

Summarily, it is always recommended to take a deep dive into the topic, get familiarized with genuine customer reviews of the service you are about to use. In this particular case, Hashing24 is a recognized player in the BTC cloud mining sector and has gained a positive reputation with the crypto audience.