Bitcoin mining is one of the few ways that investors can acquire BTC without buying it directly on the market, and is fast becoming an industry dominated by large financial interests that can afford to pay high energy and maintenance costs. to operate a cryptocurrency mining "farm".
Cloud mining contracts
The cloud mining industry has existed since the early days of Bitcoin, offering users interested in mining Bitcoin who lack the necessary space, equipment, and electricity an opportunity to outsource their production.
Some of the most popular companies offering cloud mining services are Genesis Mining and HashNest, but the demand for their services has outstripped their capabilities, causing all of their Bitcoin mining contracts to be sold out.
One of the current mining operators with available contracts is Shamining, a UK-based company that has been active since 2018 and claims to have data centers around the world with locations in California, Mexico, Cape Town, South Africa and England. .
Through this service, users can rent mining equipment and pay the costs associated with the use of the units, while the company takes care of physical accommodation, operation and maintenance. Once up and running, the revenue generated can be withdrawn to a user-specified Bitcoin wallet.
Current leases include two options for GPU miners, costing about $283 for 23,580 gigahashes per second (GH/s) or $1,066 for 94,340 GH/s, and another option for ASIC miners at current cost. US$2,571 for 235,849 GH/s of mining power.
Another option that allows users greater flexibility regarding the parameters of their mining contract is ECOS, a company that emerged from the Free Economic Zone located in Hrazdan, Armenia, and has been operating since 2017.
Cryptocurrency lending services
Nexo and Celsius are two of the most well-known lending platforms that allow cryptocurrency users to borrow funds against their holdings or earn rewards for deposits.
At press time, Celsius offers users a 6.2% APR on Bitcoin deposits, and Nexo offers a standard 5% return on flexible term deposits, while fixed term deposits ranging a minimum of one month can earn 6%.
A third option that offers users a 4% return on BTC deposits is BlockFi, a crypto asset service provider that offers crypto-backed savings and loans and has also recently launched a credit card with cryptocurrency rewards. Bitcoin.
Earn BTC from centralized exchanges
Several centralized exchanges (CEX) also offer Bitcoin holders a return on their deposits, albeit at lower rates than those mentioned above.
KuCoin offers a freer market approach to BTC lending where lenders can set the parameters of the loan terms, choosing from seven-day, 14-day and 28-day contract lengths, while also getting to set their own daily interest rates to compete with other lenders in the market.
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