Compare Ethereum Cloud Mining

The top sites for Ethereum cloud mining.

With crypto cloud mining you can earn extra ether without having to run your own mining rig. We've compared your options to help you find the best mining services online.

Read more

Contents of page

What should I look for in a cryptocurrency cloud mining platform?

As you won't be in direct control of the mining hardware, you'll want to make sure you're not just getting a good return, but also dealing with a responsible company. We've compared all the Ethereum cloud mining competition so you can find the best investment possible.

Read less

The best cloud mining providers for ether.


If you want to start Ethereum cloud mining then you'll find all the best sites right here, compared and reviewed by us.

1
Low
BTC
ETH
  • Instantly connect
  • Fixed fees
  • Pool allocation
2
Mid
BTC
ETH
LTC
  • Altcoins are available
  • Easy to start
  • Large number of users
3
Low
BTC
ETH
LTC
XRP
  • Get started from £7.50 ($10)
  • Over 2 million users
  • Faucet tools available
These are highly volatile investment products. Your capital is at risk.

Ethereum cloud mining in 2018.


What is Ethereum cloud mining?

Also known as Ethereum cloud hashing, Ethereum cloud mining is a service that allows you to mine ether without having to own mining hardware. What happens is that you pay a subscription fee to lease a certain hashing power (mining capacity) of hardware located in remote data centres and earn ether as it’s generated by miners.

How does it work?

First you choose your preferred provider and sign up for a mining contract (don’t let the word ‘contract’ scare you, it’s just an agreement with the company that lays out how much you pay and how much you get in return). Then you will earn ether as it is generated by the miners at a rate dependent on the amount of hashing power you have leased.

More accurately, as miners generate ether, you will be paid based on your contribution to the mining capacity/hashing power (minus the applicable fees). Services such as HashFlare charge $1.40 per 100 KH/s for a one-year contract, whereas others such as Genesis offer more powerful and expensive packages: $1,520 for 40 MH/s ranging up to $12,960 for 360 MH/s for a two-year Ethereum cloud mining contract.

Is Ethereum cloud mining profitable?

It certainly can be, but don’t expect to earn a fortune in short space of time: it’s better thought of as a long-term investment. You won’t have to worry about the costs of setting up and running your own rig, which means you can focus more on making sure the numbers add up to keep generating a decent profit. One thing to bear in mind is that the size of your profits will depend on the value of ether: if the price rises or falls, so will your returns.

Are there any fees?

While there tend to be maintenance fees associated with cloud mining contracts for other coins such as Bitcoin, these are often absent from Ethereum cloud mining contracts. Most providers, including HashFlare and Genesis, don’t charge any maintenance fees when taking out a cloud mining contract for Ethereum.

How long do cloud mining contracts last?

Depending on the platform you choose, you can take out contracts of different lengths. For instance, HashFlare offers a 1-year contract package, while Genesis offers 2-year package contracts. You’ll typically find the minimum duration of a cloud mining contract is a year. Genesis also gives you a chance to create a custom Ethereum mining plan, indicating your preferred hashing power and duration (up to a lifetime contract).

Can I sell an Ethereum cloud mining contract?

It is technically possible, but very difficult, to sell an Ethereum cloud mining contract. Providers such as HashFlare don’t allow its users to sell mining contracts, but there have been reports of Genesis users selling their lifetime contracts. Generally, if you want to sell your mining contract, you will likely struggle to find a buyer because most people would prefer taking out contracts from providers themselves.

Is cloud mining regulated?

No it’s not. There is no regulatory body that oversees the selling and operation of cloud mining contracts. and this is why it is important to make sure to read around and compare the options to make sure you’re taking out a cloud mining contract with a company you can trust.

Can I pay for an Ethereum cloud mining contract in ether?

Yes, it’s possible, but it’s not the best idea. It’s easy for scam sites take advantage of the anonymity provided by cryptocurrencies and ask users to pay for contracts in ether in order to disappear with their coins. Unless you are dealing with a credible platform (like those we have reviewed), it’s better to pay for your contract using a credit card or any other mode of fiat payment provided by the site.

Do I need a wallet before I start cloud mining?

You won’t typically need a wallet for cloud mining because your ether will be stored in an account hosted by your provider. But having your own wallet where you can transfer your coins to is always a good idea for extra security.

What are the main companies in Ethereum cloud mining?

There are many Ethereum cloud mining companies out there, but only a few have proved to be reliable. The best companies around include:

  • HashFlare. One of the most popular cloud mining services out there, HashFlare offers contracts for different coins. Currently it offers a 1-year contract for Ethereum cloud ming charged at $1.40 per 100 KH/s.
  • Genesis. The largest cloud mining service provider, Genesis offers a number of 2-year contracts for Ethereum cloud mining. You can get the Small Starter at $1,520 for 40MH/s, Medium Best Buy at $4,440 for 120 MH/s, Large Professional at $12,960 for 360 MH/s, or a customisable package that allows you to enter your preferred amount.
  • Eobot. Based in the US, this company was launched in 2013. Eobot allows you to start with as little as $10 and offers a range of cloud mining packages.

What are the risks associated with Ethereum cloud mining?

Ethereum cloud mining comes with plenty of risks, so you need to be careful. Because of the popularity of Ethereum mining and lack of regulation, there is always the risk of scam sites offering cloud mining services at attractive prices to attract new victims. You should only deal with reputable platforms that have proven to pay its users.

Also, bear in mind that although cloud mining offers the opportunity for low, steady income, the price of ether will affect your profits. If the prices keep on falling, then you might not get your investment back or the provider may close down.

Overall, the main risks are:

  • Attractive options for scammers trying to rip people off.
  • The provider could close down.
  • If the price of ether drops you may start losing money.
  • Cloud mining is not regulated so you have to trust your provider.

And what are the advantages?

Well, the main one is that you don’t have to buy or maintain the hardware, since the provider does the job for you. Additionally, if you find a company that generates steady profits and the price of ether doesn’t fall (or it continues to rise), then it can be a great investment in the long run.

Overall, the main advantages are:

  • You don’t need to spend money on hardware to start mining.
  • Can mine Ethereum without technical knowledge of the equipment needed.
  • A good value mining contract can generate steady profits in the long-term.
  • If the value of ether rises, your mining contract will generate more money.

Should I use Ethereum cloud mining?

It’s up to you. Considering the fact that you won’t go through the hassles of setting up your own mining rig and purchasing all the hardware involved, cloud mining is probably a great way to mine ether. But if you’re going to get involved, thoroughly research the provider you’re taking out your contract from to ensure you’re not dealing with a scam site.

How do I get started?

Before starting cloud mining, it’s important to understand everything about the provider you’re using. Head along to our in-depth reviews where we’ll take you through all the aspects you need to consider so you can make the right choice.

Should I mine Ethereum through a cloud mining service?


Advantages

  • You don't need to buy expensive equipment
  • You won't be lumped with a massive electricity bill
  • You won't be left with useless equipment if mining becomes unprofitable in the future
  • It's easy to switch companies, to get a better deal
  • You'll get steady returns on your investment

Drawbacks

  • There's the possibility of lower profits, as you're reliant on someone else to run the hardware efficiently
  • Cloud mining companies can shut down or stop payments if Ethereum price falls
  • Cloud mining can take the fun away if you enjoy building your own hardware
  • You have to be wary of fraudulent sites

Frequent questions.


What is Ethereum mining?

Ethereum mining is the process by which transactions are verified on the Ethereum blockchain. This is made possible by miners who contribute their computer power to create new blocks to add to the chain, and in return are rewarded with a reward in ether (the cryptocurrency used on the Ethereum network).

Why is it called mining?

The term ‘mining’ emerged in relation to Bitcoin and is now used to refer to the verification process across most blockchains. The term originated as a reference to physical mining, as Bitcoin is a finite resource (capped at 21 million coins) and miners expend energy in order to extract coins from the system - except with cryptocurrency this energy is computer power rather than the physical labour associated with regular mining. Unlike Bitcoin, though, Ethereum has no overall cap, so can continue to be mined indefinitely. Ethereum’s co-founder Vitalik Buterin hinted that if the community votes the proposal, they would consider capping the supply, but this is still hypothetical at this point. The Ethereum governance model was designed to allow for such democratic modifications to be made.

Where are cloud mining centres based?

It depends on the service provider. However, companies tend to set up their data centres in areas where electricity cost is low and cold areas in order to help with cooling the hardware. For example, Genesis Mining is based in Iceland where the temperatures are low and geothermal energy can be used to keep the costs of running the miners down.

Is cloud mining better than hardware mining?

Honestly, it depends on your goals. If you find it fun to set up the hardware and configuring the rigs, then you could find hardware mining a better fit for you. You will also have more control over your mining operation this way, as with cloud mining all the hardware is assembled and managed by the company with which you take out the contract. With cloud mining you also avoid the setup costs that come with buying the equipment for hardware mining.

Can I get cloud mining contracts for multiple cryptocurrencies?

Definitely. Most popular service providers such as Genesis and HashFlare allow you to take out contracts for different cryptocurrencies such as Bitcoin and Litecoin. You can also have multiple contracts at any one time.

Is Ethereum mining an environmental concern?

At the moment, this is one of the primary concerns with cryptocurrency and is one of the reasons why Ethereum’s developers are considering a move from proof-of-work to a proof-of-stake algorithm (which is much more energy efficient). Ethereum mining rigs tend to consume large amounts of power, which is why it’s constantly racing against electricity costs to remain profitable. But there have been increased interest in using green technology, something that gives miners hopes of increasing their profits by cutting the electricity costs.

Is Ethereum cloud mining legal?

In the UK yes, and also in the vast majority of countries, including Australia and the US. Ethereum mining is only illegal in countries in which owning Ethereum is illegal. Make sure that you check the law in your country before you start mining.

What is a hash rate?

This is the rate at which a miner works, measured in Mh/s (megahash per second) and Gh/s (gigahash per second). The higher the hash rate, the more profitable a miner is. When determining the efficiency of a miner, W/Gh (watts per gigahash) and W/Th (watts per terahash) are the measurements used. A good miner is one that has more processing power without consuming a lot of energy/electricity.

What do GPU and ASIC stand for?

GPU stands for Graphics Processing Unit, whereas ASIC stands for Application-Specific Integrated Circuit. Ethereum mining predominantly uses GPUs for mining, and many people involved in the network try and limit the efficiency of ASICs on the Ethereum blockchain to stop mining power becoming too concentrated.

I run an Ethereum hardware mine, can I lease out my hashing power with cloud mining contracts?

No, not usually. In order to lease out cloud mining contracts you need a very large operation and lots of hashing power, something that’s very expensive to achieve. If you are part of a large mining pool you can do this but renting out your hashing power to other users, but the operation needs to be on a very large scale for it to be viable.

Do I need to download any software?

You are not running any hardware with cloud mining, so there’s no need to download software. All you need to do is pay for your preferred package and start earning ether.

How does mining make Ethereum secure?

Mining keeps Ethereum secure in effect by democracy among its miners and is what enables the network to be decentralised. When mining, everyone is working from the same leger (the blockchain) and so if any one miner tries to change a past transaction or make up one that hasn’t happened, the other miners will all notice the change and reject that block from being added to the chain. Also, the fact that transactions are included in a block and attached to the previous one, makes it impossible to alter any of them, as this would mean changing all blocks after it.

Scroll to top