BitDeer is a cloud infrastructure provider and chip designer that includes cloud mining among its range of services. The platform currently offers cloud mining contracts with 30-day and 180-day terms powered by the Antminer S19 Pro ASIC. However, availability can be limited, and the service appeared to be sold out at the time of writing.
With BitDeer’s cloud mining service, users can rent high-performance mining hardware without dealing with setup or maintenance. Customers can select their preferred hash rate capacity and, in some cases, choose the miner model they want to use. After purchasing a plan, users can track their hash rate and mining performance through a real-time monitoring dashboard.
Key features:
- Company led by experienced mining industry professionals
- Real-time monitoring of mining performance
- Occasional promotions with discounted cloud mining plans
Bitcoin cloud mining FAQs
Is Bitcoin cloud mining real?
Indeed, Bitcoin cloud mining is a real concept. You can rent mining power from a company to engage in the process of validating transactions on the Bitcoin network. That being said, some services are fraudulent in nature, so doing your own research is crucial.
Is Bitcoin cloud mining still profitable?
While services may advertise the process to be profitable in the long term, the actual profitability is affected by the current price of Bitcoin, mining difficulty and the provider’s maintenance fees. These factors are all prone to fluctuation, which impacts profitability.
Is it safe to invest in cloud mining?
The safety of cloud mining investments varies across providers. While the ones included in our list are well-respected and safe, there are many others that are illegitimate. Researching a service’s credibility and understanding its fees, terms, and reputation in the community are crucial steps to take before deciding to invest.
The bottom line
Bitcoin cloud mining offers an attractive alternative for individuals who want to engage in cryptocurrency mining without the hassle of managing hardware or bearing the costs of buying their own mining equipment. The reality, however, is that in today’s market, Bitcoin mining with even the most powerful GPUs or top ASIC machines has become unprofitable.
You can also try using your phone to earn cryptocurrency rewards. Check out our list of the best crypto mining apps for Android.
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