Mining

# TOP 10 Cloud Mining Companies: Brief Overview 2022

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May 20, 2022 June 30, 2022

### Contents

Intro

Current Situation with Cloud Mining Sector

Bitcoin Mining Hash Rate Distribution

Why Do People Use BTC Cloud-Based Mining?

List of Ten Top-Performing BTC Cloud Mining Service Providers

Conclusion

### Intro

The world is changing much faster than ever before and the fintech sector is transforming in accord with the present day circumstances. More and more people are prone to digital transformation and economy tokenization in order to stay up-to-date with the ongoing mainstream. Digital currencies like Bitcoin and altcoins are at the peak of the hype cycle and zillions of people are eager to make investments in these highly volatile virtual assets with an aim of making sky-high profits. One of the most popular ways to generate passive income is crypto cloudmining, particularly cloud based mining of Bitcoins. The following article is devoted to a short analysis and overview of top 10 best Bitcoin cloud mining corporations as well as the differentiating factors of the aforementioned top Bitcoin cloud mining companies.

## Current Situation with Cloud Mining Sector

The current situation with the cryptocurrency cloud miningservices is rather turbulent and requires a bit of analysis. Considering the previous 2021 year and the mining industry as a whole, the major event was the crackdown on all cryptocurrency related operations imposed by the Chinese government in the PRC. Such major market players as BTCChina left the list of the global top 10 cloud mining companies and the prevailing part of the leading and biggest mining hardware manufacturers and platforms reoriented to other crypto friendly countries (jurisdictions) like in Canada, the USA, Norway, Iceland, Russia, Kazakhztan, etc. The latter two imposed strict regulatory restrictions on mining operations and providers , thus top cloud mining companies were forced to move their servers to other places.

By and large, crypto mining (particularly mining of Bitcoins) remains a profitable endeavor for many persons who are eager to use trusted cloud mining platforms / websites / pools / firms or companies. A solo miner can hardly earn profit because one should pay sky high electricity bills, have specially equipped premises, buy and upgrade high capacity mining rigs. That being said, top Bitcoin cloud miners go for cloud mining because it allows to rent the preferred amount of the hash power and mine BTC non-stop and without any hassle. Concurrently, the largest Bitcoin mining firms operate in the United States of America, Canada, Georgia, Iceland, Germany, Ireland and Malaysia.

## Bitcoin Mining Hash Rate Distribution

Case in point, Bitcoin mining hash rate distribution is an estimation of the hash power distribution amongst the largest cloud mining top sites. In fact, this variable represents the market share of the greatest players on the BTC mining arena. The “Unknown” percentage of the found blocks is delegated to the BTC mining pools with an unidentified origin and it does not signify any attack on the network. Very interestingly, but the lion’s share of Bitcoin mining took place in the US, with reference to IP addresses that made use of some BTC mining pools last year.

All-Time Hash Rate Distribution for Top 10 Bitcoin Cloud Mining Sites

Pool | Percentage, % | Blocks Mined
Unknown | 30.7 | 225,806
F2Pool | 9.6 | 70,467
AntPool | 8.6 | 62,851
BTC.com | 5.2 | 38,236
SushPool | 5.1 | 37,272
ViaBTC | 3.7 | 27,138
Poolin | 3.3 | 24,385
GHash.io | 3.1 | 23,083
Bitfury | 2.7 | 19,513
Binance Pool | 1.4 | 9,936

Source: https://btc.com/stats/pool?pool_mode=all. All data was retrieved at the date of writing this article.

## Why Do People Use BTC Cloud-Based Mining?

The highest profits in BTC mining are thanks to cloud based mining. Is it a good idea to try free demo mining with top cloud mining websites and see it for yourself how the complex process of mining turns out to be an easy walk. Top Bitcoin cloud mining websites offer to open demo mining contracts for a set period of time in order to monitor the mining earning and project future return on investments via cloud based mines. A great start before purchasing a real BTC mining contract! Let us enumerate the key benefits of the best rated and top cloud mining service providers:

- Excellent entry and exit points for investments. The initial capital may start from a few bucks.
- It is redundant to purchase and maintain high cost mining hardware and software tool kit.
- No need to worry about power blackout or poor internet connection.
- Absence of expenditures on electricity bills.
- Noise and overheat issues do not bother all the year round (Dec., Jan., Feb., Mar., Apr., May, amp iq and so on and so forth).
- Top 10 BTC cloud mining sites allow to order any amount of BTC hash rate to satisfy your investment appetite.
- Daily accruals of the mined Bitcoins and easy withdrawals round-the-clock.

## List of Ten Top-Performing BTC Cloud Mining Service Providers

When searching for top cloud mining sites on the Internet, one should ensure that the online service providers are trustworthy and legitimate because the industry is overcrowded with scam projects offering 300% profits in a few months. It is of vital importance to evaluate the performance of top 10 Bitcoin cloud mining sites, their reputation and brand recognition, how these top 10 Bitcoin cloud miners position themselves on the crypto mining market and what the customer reviews with reference to the top 10 cloud mining sites per se. In this context, we have devised our own list of top 10 cloud mining websites (service providers) and want to share this valuable information with you. Besides, we will provide a brief summary for each crypto cloud mining service provider to let you better understand what can be the best choice for you to invest and make ROI (be it short term or long term).

- Hashing24
- SHAMINING
- Trustcloudmining
- Genesis Mining
- Hashshiny
- ECOS
- ChickenFast
- BITDEER
- Hashcity
- Minergate

### Hashing24

Bitcoin cloud mining service provider Hashing24 (or simplyH24) is one of the longest standing companies in the Bitcoin mining industry. H24 has been operating since 2012, but gained major popularity and influence after forging a successful business partnership with private owned Bitcoin mining corporation Bitfury in 2014. At present, H24 specializes in providing BTC cloud mining exclusively — there are no multicurrency mining capabilities so far. However, the website has devised and implemented its unique trading engine and allows its users to buy and sell BTC mining contracts as orders in the Trading Room. This functionality is fully automated and allows traders to speculate on market price swings, make timely trading decisions, split or merge mining contracts and thus boost their financial portfolio when an excellent opportunity arises.

Speaking about the website usability, the user interface is simple and intuitive. The site is localized into nine languages, namely English, Chinese, Japanese, Korean, Vietnamese, Indonesian, Russian, Spanish and Thai. The H24 website offers free Demo mining (one active demo mining contract is active for a period of 4 weeks or 28 calendar days) and the number of Demo contracts is unlimited. Besides, one can find Bitcoin Mining Profitability calculator to evaluate future mining earnings and project the expected return on investment. The minimum contract hash power a miner can buy is 0.1 TH/s. There are four contract duration plans:

- 12 months.
- 18 months.
- 24 months.
- 36 months (sold out).

With regard to contract pricing, the minimal 0.1 TH/s (at the date of writing) for a 12 month contract costs $6.72, 18 month — $10.08, 24 month — $13.44. The available payment options include USD, EUR BTC and local (region-specific) domestic gateways. The minimum transaction amount for deposits totals 0.0001 BTC. Concurrently, the minimum withdrawal amount: is 0.0007 BTC and the withdrawal fee amounts to 0.0005 BTC. With regard to the Trading Room functionality, the trading fee equals 5% whereas the lowest contract step totals just one Satoshi. Let us summarize the major advantages of the Hashing24 Bitcoin cloud mining website:

- The one and only official partner of Bitfury.
- Only new BTC virtual currencies are minted.
- Easy navigation and great website localization.
- Best for newbies and professionals in the crypto sphere.
- Excellent BTC mining infrastructure scattered in Norway, Canada, Iceland, Georgia.
- Flawless deposits, withdrawals and daily accruals of minted digital assets.
- Unique value proposition for traders with a handy and smart Trade Desk.
- Start online BTC mining within 24 hours.

### SHAMINING

The beginning of the SHAMINING cloud mining platform dates back to 2018. It was launched in London, the UK. Just like H24, it specializes in BTC cloud mining, however with particular differences. The minimum contract price starts from 250 USD and the key metrics for calculating the hash power is GH/s (by contrast, H24 uses TH/s for corresponding calculations). Besides, the site offers GPU, ASIC and Individual mining plans. Its mining data centers are located worldwide, more specifically the US, UK and South Africa, accordingly.

At the date of writing, its customer base totals 70K users. The website is localized into 12 languages, namely English, Russian, Spanish, Italian, German, French, Turkish, Portuguese, Chinese, Arabian, Farsi and Japanese. The main page of the website contains a couple of BTC mining plans readily available for registered platform users. An investor can select a Lite Power tariff plan with low speed mining profitability or else opt for a Pro Power plan, thus having access to a group of powerful and high tech Bitcoin miners with an aim of making great returns. The site offers a free tool to calculate the profitability ratio of cloud based BTC mining. Among the major advantages of SHAMINING, it is possible to enumerate the following:

- Simplistic website design.
- 24/7 customer support.
- Multilingual capabilities.
- Versatile payment options (both for deposits and withdrawals).
- Ongoing promo campaigns.
- Regulatory compliance.

### Trustcloudmining

The company was launched five years ago and specializes in cloud based mining of the following virtual currencies: BTC, BSV, BCH, ETH, ZIL, ZEN, ZEC and other SHA256, ETHASH and EQUIHASH algorithm based digital currencies. Trustcloudmining deploys solar energy for cryptocurrency mining, thus it claims to be eco-friendly and cares about the environmental issues. Its mining data centers are located in the US and Georgia, respectively. The service provider is very popular among small investors in crypto mining due to its flexible pricing policy and absence of upfront maintenance fees.

With regard to the available tariff plans, the company renders Regular, Professional and Easter plans. The first one is good for small investments, the second one is aimed at long-term investments, while the last one is a symbiosis of Regular and Pro. The maximum investment amount is $10K at once, however this issue can be settled via the online support channel. The support team communicates both in English and Russian. The website is localized into English only, however website navigation is not overburdened with complex functionalities. To summarize the major pros of the crypto cloud mining service provider, let us list the core differentiating features:

- Easy onboarding.
- Daily payout of the mined digital currencies.
- Very flexible contract plans.
- Good for small investments (suitable for newbies in the crypto mining industry).
- 24/7 live support.

### Genesis Mining

The company started doing business back in 2013 (more than a decade ago) and has proved to be one of the key players in the crypto cloud mining niche. Genesis Mining provides cloud based mining for BTC and six other popular cryptocurrencies like Ethereum, Dash, Zcash, Litecoin and so on and so forth. The user interface is smartly organized and the website is localized into multiple languages, among which are English, German, Spanish, French, Chinese, Portuguese, Russian, Indonesian, Italian, Dutch, Norwegian, Polish, Korean, Japanese, Swedish, just to name a few. The customer base encompasses more than two million active platform users.

The cryptocurrency mining data centers are located in various parts of the world, particularly in such countries as Greenland, the UK, Sweden and other countries of the Eurozone. In line with this information, the Genesis Mining website offers versatile mining tariff plans for each particular digital currency. The plans are Small, Medium, Large and Custom accordingly. The Radiant Small contract price starts at $499 per year. The contract duration may vary from twelve months to 24 months with and without maintenance fees. The major drawbacks of the Genesis Mining plan are high investment entry points and lack of sufficient hash rate capacities for all available virtual currencies. Among the major advantages of the website, we can highlight the following:

- Recognizable services virtually worldwide.
- Multicurrency capabilities for cloud based mining.
- Rich choice of deposit and withdrawal methods.
- Lame response time of the support representatives.

### Hashshiny

The website Hashshiny was founded in 2017 and it claims to provide one and a half percentage of the world’s Bitcoin hash power. Its cryptocurrency mining data facilities are situated in Myanmar and Kaakhstan and reportedly use hydro and wind power with air and water cooling systems. The site offers the following cryptocurrency mining: Bitcoin, Ethereum, Zcash, Solana, Decred, Dogecoin, Litecoin, Dash. The mining algorithms supported on the Hashshiny website include SHA-256, ETHASH, X11 HASH, SCRYPT, EQUIHASH, BLAKE256R14, DOGECOIN. The contract pricing for BTC cloud based mining starts at $0.65 per 10 Giga Hashes per second. Thesite charges the service fee for mining via the cloud. The rest of the mining tariff pricing can be calculated using the online Hashrate Converter tool.

Speaking about customer loyalty programs, the site offers a welcome bonus in the amount of 5 TH/s for Bitcoin mining for each newly registered platform user. With regard to its ongoing Referral Program, the referral commission totals 10% lifetime The referral dashboard contains a very detailed layout of all necessary info with actualized conversion rates, promo materials, links and statistics. To sum it up, let us mention the core strong point of Hashshiny:

- Daily payouts of the newly minted virtual assets.
- Handy and intuitive mobile application to monitor all account activities and actual mining.
- Hash rate graphs, charts and advanced pool allocation.
- Multiple virtual assets are available for mining.
- The website is localized into three languages, namely English, Chinese, Russian.

### ECOS

ECOS is a cryptocurrency investment and Bitcoin mining platform registered in the free economic zone (the first ever mining company operating with a legal status). As a branded trademark, it was founded in 2017 in Armenia. Its mining farm capacities encompass more than twelve thousand units and the service provider has mined nearly seven thousand Bitcoin so far. Its customer base encounters 100K active users and its infrastructural DeFi platform enables products and tools to earn passive income from virtual currencies. Regarding the services that ECOS provides, there are pretty much to mention: cryptocurrency exchange, crypto wallet, cloud based mining, ASIC store, as well as crypto portfolio for seasoned and novice investors (individual and corporate).

The given website specializes in BTC cloud mining only. Concerning the pricing policy, 0.75 TH/s costs 150 US dollars. The maximum contract duration tariff plan is 50 months while the minimum threshold is 15 months respectively. The website is localized into seven languages, namely, English, Russian, Portuguese, German, Spanish, French and Italian. ECOS has its own user friendly mobile application available for downloading at Google Play Market and App Store. The app is very easy to use, it allows you to customize multiple charts and graphs, set price alerts and manage the financial portfolio on the go. Its customer loyalty promotions are diverse and encompass the ECOS Auction, Welcome Bonus, as well as Gift Certificates. It is about time to list the fundamental advantages that the platform can offer to its clients:

- Multiple payment (deposit) and withdrawal options.
- Clear and transparent transaction history.
- A wide spectrum of available BTC mining contracts.
- A one-stop point for institutional investors.
- Daily mining accruals.
- Free BTC cloud mining contract for a period of one month for all newcomers.
- Nifty mob app.

### ChickenFast

The ChickenFast company was first launched in Hong Kong about seven years ago and it specializes in cloud based Bitcoin mining. Many experts believe that this service provider is the best choice for beginners because the user can start crypto mining via the cloud with sixty seconds after onboarding. The ChickenFast site guarantees a substantial profit margin indicator, which is predetermined by the mining contract that is purchased by the client. The website displays five types of contract plans termed as Classic, Gold, Platinum, Boss and Bronze respectively with a minimum investment amount of 250 US dollars. Now, let us pinpoint the most significant benefits offered by the platform:

- Bitcoin mining rewards are paid out on a daily basis.
- Mining fees are built in to the ROI indicator.
- It is redundant to specify the contracts.
- Free Bitcoin mining profitability calculator.

### BITDEER

Bitdeer is one of the well known cryptocurrency cloud mining platforms supervised by a Singaporean firm. The project was launched four years ago and it specializes in servicing comprehensive virtual currency mining solutions to its customers. The site allows to cloud mine BTC, BCH, ZEC, HNS, CKB and FIL digital assets. Besides, its virtual hash rate marketplace allows traders to sell and buy hash rate capacities in just a few mouse clicks. Even more, it boasts account binding claiming rewards launched 22 March, 2022. A few glimpses with regard to Bitdeer’s advantages:

- User-friendly mobile app.
- Diverse option to invest and reinvest in crypto mining.
- Customized mining plans for seasoned investors.
- High-quality mining farms located in Americas and Europe.

### Hashcity

Case in point, Hashcity is a multicurrency mining pool established just like Bitdeer — four years ago. It allows to mine fantastic 14 cryptocurrencies, among which are the leader Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Zcash, Ravencoin, Ethereum Classic, Monero, and so on and so forth. Conveniently, the site deploys a conventional PPS algorithm to pay to its clients. The service fee is minimal (one per cent) and the payment methods are indeed diverse. Let us briefly demonstrate its kernel benefits:

- Use of Stratum servers.
- Great mob app available for Android devices.
- Easy to set up.
- An internal exchange to trade coins.
- Multilingual website optimization (English, German, Chinese, Turkish, Arabic).

Minergate

MinerGate is a decentralized mining pool. It allows to cloud mine Bitcoin, Tron, Zcash, Ethereum, Monero, Litecoin, just to name a few. The pool fee amounts to 1.5% but it depends on the crypto coin and the reward system. By and large, MinerGate allows cryptocurrency miners to download the applicable software program and run it online. Key features include:

- Automatic smart mining.
- Easy withdrawals.
- Intuitive design.

### Conclusion

As far as you can see, the BTC cloud mining market is overcrowded with juicy market propositions. We have made our best to select and analyze the best performing BTC cloud mining websites, but it is of utmost importance to always carry put your own research, which site is more trustworthy, you should carefully read genuine customer reviews and avoid scams. Nevertheless, Hashing24 has been in the crypto mining sector for more than a decade and you can rest assured that your mining earnings are always safe and readily available for withdrawals or further reinvestment.

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