HashFlare vs Genesis Mining (December 2017)
Before you start mining Bitcoin, you have to decide where to buy your hashpower from. You might want to invest a certain amount of money, perhaps $300 or $3000; or you might just want a particular hashrate, say 14TH/s.
Based on what you want, different approaches may be more suitable. This guide compares how expensive hashrate is when buying a Bitcoin miner yourself (e.g. an Antminer S9) to cloud mining companies like HashFlare and Genesis Mining.
Any links on this guide may be affiliate links, so we'll earn some money if you use them.
One thing to keep in mind - when running your own miner you'll have to pay for electricity, which varies between around $0.08/kWh in parts of the US and Asia, right up to $0.30/kWh in parts of Europe. So if you live somewhere with expensive electricity, cloud mining may be more suitable; equally if it's very cheap where you live buying an Antminer may be better.
Bitcoin (SHA-256) Hashrate Cost Comparison
Antminer S7: $440 from supplier, currently $1,205 on Amazon; average $823
HashFlare: $705 for 1 year of mining, $1.65 daily fee
Genesis Mining: $794 for open-ended mining, $1.32 daily fee (OUT OF STOCK)
Antminer S9: $1310 from supplier, currently $5,497 on Amazon; average $3,404
HashFlare: $2,100 for 1 year of mining, $4.90 daily fee
Genesis Mining: $2,226 for open-ended mining, $3.92 daily fee (OUT OF STOCK)
Litecoin (SCRYPT) Hashrate Cost Comparison
Antminer L3: $1500 from supplier
HashFlare: $1,875 for 1 year of mining, $1.25 daily fee
Genesis Mining: $3,000 for 2 years of mining, no daily fee (OUT OF STOCK)
Antminer L3+: $1,586 from supplier, currently $4,450 on Amazon; average $3,018
HashFlare: $3,870 for 1 year of mining, $2.52 daily fee
Genesis Mining: $6,048 for 2 years of mining, no daily fee (OUT OF STOCK)
Since the Antminer D3 came out, profitability for mining Dash has gone down massively - hence the massive cost differences below.
Dash (X11) Hashrate Cost Comparison
Antminer D3: $1,448 from supplier, currently $999 on Amazon; average $1,224
HashFlare: $61,760 for 1 year of mining, no daily fee (OUT OF STOCK)
Genesis Mining: $86,850 for 2 years of mining, no daily fee (OUT OF STOCK)
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January 13th, 2018
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January 12th, 2018
Antminer S9 Setup Guide (January 2018)
Written by the Anything Crypto team
We first discovered Bitcoin in late 2016, and wanted to get everyone around us involved. But no one seemed to know what it was! We made this website to try and fix this, to get everyone up-to-speed!
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All information on this website is for general informational purposes only, it is not intended to provide legal or financial advice. We encourage you to consult your own legal & financial advisors before making any cryptocurrency-related purchase.