Jump to content
Afrii Diaspora Dialogue
  • Everything you need to know about cloud mining

    Everything you need to know about cloud mining

    Digital money is gaining more and more popularity in the modern world. Scattered single miners no longer surprise anyone, since today it is quite common to find entire farms or mining centers in which powerful equipment performs continuous calculations of mathematical algorithms based on cryptographic elements. Also, such a kind of electronic currency mining as bitcoin cloud mining is actively spreading. With a good combination of circumstances, with some diligence, such an enterprise can become very profitable.

    The investor, who in this case is also the ultimate beneficiary, rents ASICs belonging to large mining companies for a certain period of time. The risks fall entirely on the shoulders of the latter, since it is extremely difficult to guarantee profitability in this financial industry.

    Cloud mining of cryptocurrencies is it profitable or not?

    In this case, of the two participants in the transaction, the absolute financial benefit and minimization of personal financial risks is guaranteed only for the landlord. Receiving a constant fixed income from tenants of a part of ASIC, he can update equipment in a timely manner, thus increasing the profitability of the company as a whole. However, the question of whether cloud mining is profitable for an investor can be answered with confidence in the affirmative. The main thing is to invest in a mining company correctly. Ideally, experts recommend diversifying finances between several companies and considering not only bitcoin, but also other cryptocurrencies.

    Among the main advantages of cloud mining for investors are the following:

    • low initial rate for investment;
    • no need for high personal technical competence for the maintenance and controlling of systems;
    • possibility to choose the jurisdiction of the company.

    The last factor is especially important, since the profitability of cloud mining directly depends on the energy costs for mining cryptocurrency. Simply put, if you invest money in a company located in a region with a lot of sunny days, the cost will be reduced by using solar panels. The same story with companies that are in the jurisdiction of countries with low electricity tariffs.

    View the full article



    User Feedback

    Recommended Comments

    There are no comments to display.

    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


Afrii-Diaspora Dialogue

A Platform for Dialogue for the African diaspora

A cultural and community website with a GO.A.L. to UpLift™ and EmPower™ the many different peoples, cultures, and communities of the Black and African diasporas.

Main links

  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. Guidelines, Privacy Policy, Terms of Use