Genesis Mining SHA 256
Genesis Mining SHA 256 cloud mining contracts use the SHA 256 algorithm. THey have specialized ASIC-hardware for this purpose. Genesis Mining sells the contracts specified as lifetime contracts. However, they run as long as profitable and this time is determined by three main factors.
- The mining difficulty
- Bitcoin vs USD exchange rates
- Maintenance fee (This includes all electricity, cooling, development and servicing costs). Current maintenance fee, 2017-10-09 is USD 0.00028 per GH/s per day.
The first two factors are unpredictable.
Genesis Mining Eth-hash
Genesis Mining Eth-hash contracts mine Ether. Ether is mined on the Ethereum network by the Eth hash algorithm also called dagger-hashimito. The Ethereum Mining contracts run for a maximum of 24 months. There is a big chance that Ethereum switch to proof-of-stake within 24 months (2017-10-09). Genesis Mining will switch the mining power against the most profitable coin with that hardware. There are no maintenance fees.
Genesis Mining Equihash
Genesis Mining Equihash cloud mining contracts mine Zcash. Zcash is mined with the Equihash algorithm. Zcash is a permissionless system with zero-knowledge security. The contract time is 24 months without maintenance fees.
Genesis Mining Cryptonight
Genesis Mining Cryptonight cloud mining contracts mine Monero. Monero features the proof-of-work algorithm known as CryptoNight. Monero focuses on the scalability, privacy, and decentralization. CryptoNight makes heavy use of the ring signatures to ensure anonymity is maintained. The contracts run for 24 months and there are no maintenance fees.
Genesis Mining X 11
Genesis Mining X 11 contracts mine Dash. Dash is an abbreviation for Digital Cash. Dash uses the X11 proof-of-work algorithm. X 11 offers instant and private payments online or in-store using their secure open-source platform. Also, it´s possible to mining of multiple cryptocurrencies singularly or at the same time. Included Cryptocurrencies are Dash, Startcoin, and others. The contracts run for 24 months and there are no maintenance fees.
Genesis Mining Scrypt
Genesis Mining Scrypt cloud mining contracts mine Litecoin. Litecoin was created by a former Google engineer. Litecoin uses the Scrypt algorithm and is mined with specialized ASIC hardware. Litecoin is called the silver if Bitcoin is the gold and is perfect for small transactions and consumer purchases. The contracts run for 24 months and there are no maintenance fees.