A very common question for newcomers to the crypto currency community is, "can I make money off cloud mining?" This is my run into that experience and a journal as I either lose or make money via such company. My investment are placed into the two largest and oldest cloud mining companies Genesis-Mining and Hashflare. Genesis minning is a company that started in 2014 based out of Hong Kong with service coming from Iceland they have various "live streams"
Genesis Mining:
Ethereum - 1MH/s $30 2 year contract
SHA56 - 2TH/s $300 forever contract*
X11 - 11MH/s $60 2 year contract
Hashflare
SHA56 - 10GH/s $1.20 forever contract*
Note: I had larger purchases for Hashflare however my debit card put the purchase on hold then it appears Hashflare cancelled my order. If a profit gets turned I will be reinvesting into both as time goes on.
*Forever contracts remain valid as long as the minning stays "profitable". Both companies subtract a payment for electricity on your daily payout. Additional note is Hash claims to resume minning if the coin returns to being profitable while Genesis terminates the contract.
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