Ethereum is an alternative cryptocurrency protocol developed by Vitalik Buterin since 2013. By some it is called Bitcoin 2.0. The new protocol has received community and professional support since being announced. The first sale of Ethereum coins raised over $15 million and today has a total market cap of nearly $75 million.
Cloud mining provider Genesis Mining is expanding its mining operations with the launch of Ether Cloud Mining Contracts. “Our customers asked and we listened. Due to our large-scale GPU mining activities we are glad to offer significant parts of our farms for Ether mining in the cloud. Users can therefore benefit from our economy of scale and our geothermal-powered and optimized GPU mining rigs in Iceland. We are bullish on Ethereum and look forward to giving our customers the chance to profit from this exciting innovation and also support the network,” Marco Streng, CEO of Genesis Mining, said in a statement.
The Ethereum Cloud Mining Contracts are for a one-year period with zero fees (all contained upfront). If or when Ethereum transitions from proof-of-work to proof-of-stake the contracts will switch to regular X11 mining until the end of the contract.
Unlike other Genesis Mining contracts, there’s no option to have your mining payouts automatically converted in Bitcoin. This is pure Ether mining. You will need an Ether wallet to be able to receive your daily payouts. We will cover Ethereum wallets in a later post. For now, don’t worry about it. Genesis Mining keeps track of your balance until you provide a valid Ether wallet address. Bitcoin mining contracts are also still available. It are exciting times for both currencies. In the current bull trend, mining ether Bitcoin or Ether looks very promising. Ether cloud mining start from $53.97 for 3MHs. Use our special bonus code Mqu31k to receive 2.5% discount on all purchases at Genesis Mining.
Here’s a short clip from a cryptocurrency farm build out in Iceland:
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