Tag Archives: Bitcoin Mining
#Bitcoin Difficulty Spikes
There has been another increase in difficulty on the Blockchain, thus reducing the mining awards, and reducing mining profits. While the profits did increase slightly with the price increase, the overall mining operations for Bitcoin are hardly profitable, and begs the question of scammers and cheats who are offering mining services with high profit potential. Here are the charts from the Blockchain to give investors some insight on how the Bitcoin Blockchain is performing.
The difficulty is increasing, thus reducing the rewards for miners.
At its current price, the market cap is above 12 Billion.
The total number of transactions is increasing, which is a good thing for miners.
As you can see the difficulty increases, and this makes it harder to mine a Bitcoin from the Block, however when the price increases, and volume of transactions increase, then mining rewards can also increase, but until there is greater adoption of the network, it seems like the mining operations will continue to be very difficult. For those looking for dividends, try investing in Alcurex shares, which offer a percentage of trade commissions from the exchange back to shareholders, or blended funds like GRU shares, which are blended mining and altcoin hedge funds to help reduce risk, rather than investing full-on in Bitcoin mines.
Zcash recently made gains, and the Grupbit holdings of ZEC are now above .02 ZEC, where the sales of the Zcash will go back to Grupbit holders.
Bitcoin Mining Companies
Back by popular demand, we did some extra research on the internet and came up with this list of providers. We are not endorsing these companies, simply presenting them as alternate options for investors looking to purchase Bitcoin Mining Contracts. Most of these mines will provide some sort of Cloud Mining, with Bitcoin, Litecoin, or ETHER as options. EOBOT goes a little further with their selections, but we are not sure if they convert the coins from mined BTC or LTC, or if they actually mine those other coins. Many coins can be mined using Mining Rigs, and most of these cloud mining providers have mining farms where they partition out a percentage of the mining rewards to cloud fund investors to help cover the costs of startup, or in some cases, to increase ebitda and other capital projects.
Today we are picking up where we left off from our previous article, so you may want to read the other article first since it showcases companies that we have worked with.
Let’s take a look at some of these companies:
Gigahash.org
Hashflare.io
There are plenty of scam site out there, so buyers beware, but if you want try some of these sites with small investments and let us know how they are, we would love to hear your comments below.
Bitcoin mining is currently profitable, and miners are hoping that the price point begins to increase to help compensate for the upcoming dry patch when rewards are cut in half. That means that their may be some very good days for the miners as the price rises leading up to the event. This could drive the price of contracts up in the short term as higher rewards and payouts are re-invested into contracts which may leave the price inflated in July when getting a contract may be much more expensive, and less profitable. Going with mining companies that offer the opportunity to trade contracts on the market makes even greater potential for flexible trading options so investor’s can have more control over their investments. Some such mining companies that currently offer contract trading are hashnest.com and oxbtc.com — we would recommend these mining companies because of their track record, as well as flexibility to trade the GHS. However, we would love to hear feedback about other companies, and other leads in this area as we look to grow our mining operations in the short term.
Bitcoin Mining Gains / #STATS
We are pleased to announce that our old Zeus Contracts, and Halley Contracts that were migrated over to OXBTC.com are now producing again! This is a great return for investors, and for Bitcoin Miners who are finally seeing these inactive mines come to life again. It couldn’t come at a better time as everyone is trying to get as much bitcoin as they can, and this little extra dose will work wonders for increasing our position in the short-term.
While these payouts will likely go inactive in a couple weeks when the miners face the problem of less rewards, we are still going to keep an eye on them. Here is the STATS from when they were laying dormant and came back on and are currently gaining momentum. As a result, we are looking to increase our short-term investments into the mining sector, and possibly work to selling some of these older contracts closer to the reward halving deadline without losing too many days of profit in the process. The Bitcoin price is going to have a lot to do with how these payouts and rewards are achieved in the coming weeks as it is going to have to increase drastically to maintain any sort of momentum.
The Mines woke back up around the end of May and have started producing again, making for the end of the month dividend projected between .24 – .32 depending on pricing and production. Give the current production, we would expect to achieve another .2 next month, however, as mentioned previously some of the contracts will require funds to convert to newer machines, and some of the funds will be used to maintain continuity and latest technology so our contracts continue to produce as best as possible over the long term. We have been sitting on these dead contracts for months without activity, so we definitely plan to convert these to a newer Terahash Contract, or possibly a 1-year MHS ETH Contract.
Buy your own mining shares at oxbtc.com
Buy the STATS diversified mining stock at Alcurex.com (ticker: stats)
Coin Currency News Est. 2014 