Right after getting into cryptocurrency and the whole blockchain thing, in addition to dropping some quid on cryptocurrencies directly, i decided to dig into (no pun intended) Ethereum mining.

It quickly became apparent that i was not going be mining Bitcoin, Ethereum, or even Litecoin on my own. The difficulty level and required hardware priced me right out of any potential mining option, even if i joined a mining pool.

So, i opted to try cloud mining through Genesis Mining (use my referral code gIN9tD for a 3% discount).

About 4 weeks ago i bought a 2-year Ethereum mining contract operating at 4MH/s for $116USD (i received a $4USD discount — regular price = $120USD).

Ethereum mining profitability calculator.

Ethereum mining profitability calculator.

Since then, on average, i’ve mined about 0.00072eth/day.

When i first purchased, Ethereum was trading for just shy of $300USD.

Based on ETH pricing on date of purchase, i would see ROI at day 541.

Today, Ethereum is trading for just over $460USD.

Based on ETH pricing currently, i would see ROI at day 349.

In any event, as long as ETH doesn’t drop below $219USD (which i’m pretty sure won’t happen), i’m going to at worst break even. Of course, that is unless Genesis decides to cancel my mining contract. 🙁

The reality, though, is that i’ve likely added a significant % on top of what i would have seen simply buying ETH straight out.

Now, keep in mind, i don’t know jack s**t. So, take all of this as just an anecdote.

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Of course, if you’d like to take a risk and try your hand at cloud mining, Genesis Mining will give me a wee bonus if you use one of my links in this post. 🙂

And don’t forget to use the code gIN9tD to get a 3% bonus for yourself!

Happy mining!

john

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BTC Wallet: 1LyutLaQ3sufbFcETue6kYbQHqZvYbvAD9

ETH ERC20 Wallet: 0xca0dd607339edee021fb95e4a63fc21f13f4de2f

LTC Wallet: LaPhoXcybZ3hHNs7jFeBo28uYXpYZe45w8

DASH Wallet: XtHavbmxb6gQixkBKXq2igQ2GhLUjLCh88

DOGE Wallet: DD2PN95XBgUvwRf5jbGV78d6nWEgVwjm4L

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