The more you spend, the more hashing power you can access. Some Genesis Mining subscription plans come with a contract requirement. If you purchase a Dash, Ethereum, Litecoin, or Monero mining subscription, for example, then you need to agree to mine that specific currency for 2 years.
The Zcash subscriptions, on the other hand, come with a 1 year Zcash mining commitment.
All bitcoin plans offer open-ended bitcoin mining. All plans come with a maintenance fee. That fixed maintenance fee is deducted from all open-ended contracts for as long as they are profitable. At the time of writing Julythe maintenance fee was sitting at 0.
Genesis Mining Conclusion
All terms are clearly outlined in the Genesis Mining contract, so make sure you read through it carefully. However, you can make a small amount of money off your initial investment — with the chance of making considerably more if the price of your mined coin goes up. Obviously, this will change based on the difficulty and the price of bitcoin. Some people are buying into Genesis Mining and other mining operations at a fixed price today with the belief that prices will continue to rise, which makes their contracts more profitable.
That occurs when your daily investment payout cannot cover the maintenance fee. Once this point occurs, Genesis Mining will continue mining for 60 days in the hopes that the operation will return to profitability. Obviously, mining can become unprofitable when the price of the coin goes down, or the difficulty goes up.
About Genesis Mining Genesis Mining was founded in Genesis Mining operates mines around the world, although most seem to be based in Iceland. Genesis Mining Conclusion Ultimately, you can earn more money at home by buying your own hardware and bitcoin mining operation.
BTCUSD Technical Analysis
However, you also need to pay for cooling, electricity, maintenance, upgrades, and more. As mentioned above, it appears that the operation is indeed fully legit and that they do indeed mine digital currencies. As said above, the contracts that they feature are simply not profitable. Let us take a closer look at these contracts. Maintenance fees apply to all the aforementioned contracts.
Genesis Mining Review Conclusion
At this rate — if all variables remained unchanged — it would take a Gold contract buyer at least 5 months to make ROI. Obviously though, the variables will change.