Bitcoin Mining Cost and Benefits Comparison Chart
A chart to compare the costs and benefits of having your own hardware to having a contract with Genesis Mining
| Costs of a contract with Genesis Mining | Costs and externalities of having your own hardware |
|---|---|
| One-time price of purchasing the contract | Price of the hardware |
| No extra fee | Shipping costs |
| No extra fee | Possible customs costs |
| Best electricity rates possible. 100% green energy | Usually high electricity rates |
| You start mining immediately! | Waiting for delivery – you are losing days,even weeks of mining time, and your purchased hardware is already losing its value |
| We guarantee 100% uptime and cover system downtimes by using our own miners. | Loss of mining time due to system downtimes |
| No extra fee | Cost of additional equipment |
| No extra fee | Electricity consumption of additional equipment |
| No extra fee | Cost of cooling |
| Hardware is at a remote location, you are exempt from excessive heat | Excessive heat |
| Hardware is at a remote location, you don’t have to deal with loud noise | Loud noise |
Why is it more profitable to mine with Genesis Mining?
Thanks to some great partnerships we have established with hardware producers, as well as to our large scale purchases, we get better mining prices on our employed technology. This means we buy the hardware cheaper than the market price. What also bears great importance, considering the maintenance costs, is the storage of the miners: we have several farms around the globe, and each location was chosen to fulfill two important criteria: cheap electricity supply and little or no need for cooling.
There is much beauty in purchasing and setting up your own hardware, we know that. But it’s for those who are technically very skilled, can solve tricky complications, and generally see the fun in maintaining a complex construction rather than in earning profit with it. For most people these are annoying, unnecessary difficulties, and our solution is targeted exactly at them. To put it simple, our service is providing a better mining experience at a lower bitcoin mining cost.
There are many who tell us that they can mine cheaper by themselves according to their calculations. However, it always turned out that they forgot about one or more of the above listed costs. We did our calculations, and we think it’s impossible to mine more profitably on a smaller scale, at home and by yourself.
Sign up for the fastest bitcoin mining software on the market and start mining your favorite cryptocurrency today!
Genesis Mining