As the year draws to a close, Bitcoin mining gear is still in vogue. While bitcoin mining may no longer be as lucrative as it used to be, the mining hardware continues to get more sophisticated and the chances of making a profit from mining slim.
So, to whoever is looking to make money on the off-chance that they crack the code and mine a BTC…good luck.
Top-of-the-line mining hardware is extremely expensive, and the maintenance and upkeep fees for such machinery are hefty.
In addition to cost, buyers of BTC mining gear will also have to deal with the noise the machines make and the heat they generate, which is not ideal for countries with summer weather year-round.
But for those who are still willing to give it a shot, Bitcoin mining has become a lot more organized over the years. What was once a niche, undeveloped space is now a sector where large companies have stepped in with huge amounts of capital, trying to earn a profit on mining.
Hashing24
Users looking for a straightforward way to mine Bitcoin from the comfort of their home will find Hashing24 as a suitable alternative. Created in 2012, Hashing24 has been involved in Bitcoin mining operations for over a decade and is partnered with Wattum and BitFury, two companies that have a track record in crypto mining and infrastructure.
The way it works is this: Users sign up on the website and choose the hash power—the amount of energy to be used for mining—they’re comfortable with. This generates a contract and a price that the customer must pay for. After this, the order is dispatched to data centers managed by Wattum and BitFury, after which the mining process begins. Any and all payouts are deposited into the customer’s wallet.
While Hashing24 is viewed as a trustworthy platform, the difficulties associated with mining still find their way into the user experience, including issues such as expensive paid plans and high costs of upkeep.
Bitdeer
Known for being the spinoff from Bitmain and also being a listed company on the NASDAQ, Bitdeer offers cloud mining plans for customers who want to try Bitcoin mining from a distance. As is typically the case with cloud mining, what Bitdeer is giving in these plans is the hashrate from mining rigs, which is what is necessary to mine Bitcoin. There are currently two plans, both of which use the Antminer S19 Pro model to run your hashrate—one that runs for 30 days at 10TH/s and one that runs for 180 days at 50 TH/s.
The Antminer S19 Pro model is a rig that is the industry standard for machinery used to mine Bitcoin.
Bitdeer offers two modes for cloud mining: Classic and Accelerator. While in both modes, you will receive out the Bitcoin output achieved through the duration of your plan, but in accelerator mode, you will be able to recoup your investment quicker.
BitFuFu
BitFuFu is a Bitcoin mining company that has managed to establish a presence in a short period of time. It is now seen as a world-class provider of BTC mining services and offers the whole spread to interested buyers of cloud mining, mining pools, and the option to buy and host mining rigs within BifFuFu’s facilities.
People can also buy old and new mining rigs for themselves if they wish to run operations within their home. This option is cheaper than having BitFuFu do the heavy lifting of maintenance for you.
If it’s mining pools you’re interested in, the BitFuFu pool provides interested miners with all the relevant information of the network, mining difficulty, BTC price, and coordinates the whole process in exchange for a fee.
BeMine Mining
Similar to BitFuFu, BeMine Mining operates top-of-the-line mining hardware and offers fractional or partial ownership of these rigs to people who want to take part in Bitcoin mining but don’t want to invest a hefty sum of money.
BeMine Mining offers the whole gamut of services under Cloud Mining, Mining Hotel, and ASIC Miners.
Fractional ownership can be secured for a relatively low fee of $270, and the machines are in line with the ASIC rigs offered for sale by BeMine Mining, such as the AntMiner S23 model. People who sign up can get up to 11 days of free mining on the Antminer S21 Hydro.
ECOS
The ECOS platform has an end-to-end involvement in all aspects of mining, including an ASIC marketplace, which offers people the chance to buy second-hand ASIC gear to try out Bitcoin mining starting from $450. You can purchase an ASIC machine for as low as $1,299 or subscribe to a beginner cloud mining package, which goes for $150.
Buyers who want a flexible option of using an ASIC machine but don’t want to buy one outright can opt for rentals instead, which start from $2290.