Return on Investment with Genesis Mining
If you have read my Dutch blog about Bitcoin you will know that I am quite the fan of Genesis Mining. I have tried over a dozen Cloud Mining platforms and this one clearly stands out for me (fast customer service, easy user interface, daily payout, fast payment processing, reliable, sustainble).
As people have been asking me about the actual payout of Genesis Mining I have decided to give you some of the details so you can see this for yourself.
How much money do I make with Genesis Mining?
I started out with a Hashrate of 6.4 TH/S, which will costs you around 860 USD (if you use my discount code SP12V8). The daily payout in January 2017 was:
- 0.00213061
- 0.00209107
- 0.00206448
- 0.00210628
Let's call this an average of 0.0021 BTC, which would be worth around $4.8 as of today.
I have multiple accounts, but this one was opened on 01-2017. If you add up just these 5 months you would get a total of 5 x 30 x 0.0021 = 0.315 BTC. A total value of $735. And this is just in 5 months!
This would mean I would break-even in 6 months, and anything after that is pure profit.
Of course, it is not as simple as that. As the difficulty of Bitcoin increases the payout will be lower. So it is expected to go down over time.
Now, since Bitcoin has been only going up two things have happened. One, each BTC you mine is of course worth more, but also the relative costs of electricity and service fees has gone down (as this is a fixed fee). This means that as Bitcoin goes up you make even more money with your investment.
Is Genesis Mining still profitable?
OK so before I talked about the profit in the first few months with 6.4TH/S.
Let me now run the numbers again today, so you can get a feel of how much the difficulty changes over time.
Payout in May 2017:
- 0.00213892
- 0.00208977
- 0.00208404
- 0.00200499
As you can see the payout is pretty much the same. It might have gone down by an average of 0.0003 BTC per day, but the payout is still high and definitely worth my money. As I have been investing ever since I started it is hard to tell you exact figures, but I should break even within a few weeks and start making money from there on.
As a matter of fact I have just invested in another 5 TH/s as I believe the investment will be worth it.
Discount on Genesis Mining
The code is: SP12V8
Happy mining!
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