Genesis Mining Ethereum
This article outlines the Daily, monthly and annual yields of Genesis Mining Ethereum (ETHER) contracts. We will highlight some of the risks and rewards of buying the 2 year maintenance free Ethereum contract (for other guides check out Bitcoin, Litecoin, and DASH).
Genesis-mining announced the return of Ethereum mining (Dagger-hashimoto algorithm) with a massively reduced price on 11th of Feb 2017. This is coinciding with the massive rise in Ether price and new updated ether mining prospects. The new ethereum mining contract price are 58% cheaper (see note 1). This means there is much greater potential for profit. In this article we will try to figure out a potential return on investment (ROI) and outline some risks involved in buying Ether contracts.
Disclaimer: Information contained on Boxmining.com is for informational purposes only. It should not be considered legal or financial advice. You should consult with an consultant or other professional to determine what may be best for your individual needs. Crytocurrency and mining are subject to huge loss or gains.
Return on Investment
It is important to note there are a lot of factors influencing the return of investment for ether contracts. The biggest 2 factors are ether price and network difficulty. Regarding ether price, ether is a crytocurrency and prone to high degrees of volatility. The price of ether may increase or decrease over the 2 year mining contract. Genesis-mining will deposit Ethereum to your designated wallet everyday for 2 years. It is up to you when you choose to sell your Ether. We can have a rough estimate of the amount of ether to be received using the ethereum profitability calculator (see note 2):
We can see at the end of a year of mining, we would expect to receive a total of 85.45 ether (roughly 1781 USD of value, assuming 1 ETH = 20.85 USD). Assuming the above, for a full 2 year contract the yield would be 171 ETH. This would give a yield of $3570 for a purchase cost of $2715 USD (Assuming you use the 3% off coupon code “6bXKwD”).
This would give you a 130% return on investment.
However, before you get too excited there are other factors that will reduce / increase the ROI. First off all, if the price of ether drops, then the yield will increase. In fact if Ether drops below $15, the contract will make a loss.
Network difficulty directly affects the return of investment. As more people mine Ether, the same reward is split between more users, resulting in less money per user (or hash rate). This means in the above calculation, 171 ETH would be MAX amount of ether yield. Most likely technology will improve and more miners will get involved, making it less profitable to mine.
Where to buy Ether cloud mining
Genesis mining currently has ether mining contracts on sale. Remember to use the Promotion code “6bXKwD” to get a 3% off discount coupon!!
Top Five Successful Strategies For Trading Binary Options
- 10 Mh/s was $358 USD for 1 year, now its 300 USD for 2 years!
- You should always fetch the latest mining data directly as it incorporates current network difficulty. Assume electricity to be zero as genesis mining does not charge addition fees during the 2 year contract.
Originally published at boxmining.com.