Ethereum mining is an in-depth computational process of creating blocks so transactions that will be added to the Ethereum blockchain. A miner gets rewarded with ETH for providing solutions to math problems via blockchain technology. The process requires mining devices, electricity, and space to set up the devices. It is an expensive process, and large corporations mainly manage it.
However, this isn’t the only way that you can mine Ethereum. This is where the concept of Ethereum cloud mining comes in. Cloud mining is the act of renting a host’s mining devices. So, you can mine Ethereum without purchasing the mining devices, any initial hardware, or dealing with costly electricity.
The host will handle all the requirements, and you’ll only pay to use it. It uses software as a service, where you use a service without purchasing or installing the hardware. The difference between cloud mining and using your hardware is that you pay to use the host’s equipment in cloud mining. In contrast, using your hardware means purchasing the hardware, space, and electricity.
Best Ethereum Cloud Mining Sites
| Name | Founding Year | Supported Coins | Minimum Hash Rate | Link |
|---|---|---|---|---|
| StormGain | 2019 | Bitcoin, Bitcoin Cash, Ethereum, Litecoin, etc. | 23 EH/s | Learn More |
| ECOS | 2017 | Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether, Litecoin. | 2.25 TH/s | Learn More |
| Hashing24 | 2015 | Zcash, Dash, Bitcoin, and other crypto coins | 11TH | Learn More |
| Hashshiny | 2016 | Bitcoin, Ethereum, Dash, and Litecoin | 10 GH/s | Learn More |
| Genesis Mining | 2013 | Ethereum, Bitcoin, Zcash, and Litecoin | 12.50MH | Learn More |
1) StormGain
Best for Experts and beginners.
StormGain is an innovative Bitcoin mining software that allows you to invest in digital currency effortlessly. It features a user-friendly dashboard that helps you monitor assets rising and falling. This application also has powerful charting tools to track trends and price movements.
#1 Top Pick
Supported Coins: Bitcoin Gold, Dash, Ethereum, Cardano, Neo, Bitcoin Cash, etc.
Payout Frequency: Daily
Minimum Payouts: 50 USD
Supported platform: Web, Android, and iOS.
Features:
- It protects your cryptocurrency by keeping it in a secure wallet.
- You have the option to choose the payment that best suits your needs.
- StormGain is available in a variety of languages, including English, French, Spanish, and Italian.
- You can mine digital currency without expensive equipment.
- It has an easy sign-up process.
- Up to 12% interest rates on your funds.
| đź‘Ť Pros | đź‘Ž Cons |
|---|---|
| User-friendly interface. | The system needs to be properly regulated. |
| It supports a range of cryptocurrency trading. | There is no in-built bot to automate trading. |
| Gives up to 20% Bonus on every deposit. | |
| It is supported by 230+ countries. |
2) ECOS
ECOS is the most trusted cloud mining provider in the industry. It was established in 2017 in the Free Economic Zone. It is the first cloud mining service provider that is operating with legal status. ECOS has more than 100,000+ users from all over the world. It is first cryptocurrency investment platform with a complete suite of digital asset products and tools.
#2
Supported Coins: Bitcoin, Ethereum, Ripple, Bitcoin Cash, Tether, Litecoin.
Payout Frequency: Daily
Minimum Payouts: 0.001 BTC
Supported platform: Windows, Mac, and Linux
Features:
- Convenient calculator on the website for choosing a mining contract
- Daily payments and detailed transaction history
- ECOS is more than just a cloud mining platform – it also offers a wallet, exchange, investment portfolios, and savings feature.
- You can download the ECOS mobile app from either the App Store or Google Play.
- It is a convenient way to access your account and perform various tasks.
- Use Coupon code “GURU” and get a free cloud mining contract for 1 month.
| đź‘Ť Pros | đź‘Ž Cons |
|---|---|
| It provides payments on a daily basis. | Only BTC mining |
| The low minimum withdrawal from 0.001 BTC. | |
| Offers a wide range of cloud mining contracts |
3) Hashing24
Hashing24 is another mining platform that supports the free mining of Ethereum. This company has several mining farms in Iceland, Georgia, Canada, and Norway. Other coins supported in the platform include Zcash, Dash, Bitcoin, and other crypto coins.
#3
Supported Coins: Cash, Dash, Ethereum, Litecoin, Bitcoin, Altcoins.
Payout Frequency: Once per day
Minimum Payouts: 0.0007 BTC
Supported Platform: Windows 10, Mac, and Linux
- Unique selling point: It uses the latest cooling technology, leading to a meager daily service fee. It also utilizes the latest ASIC chips, making mining cryptocurrencies and other digital currencies easy.
- Ease of use: Hashing24 has a user-friendly interface and dashboard that facilitates a seamless process from registration to buying hash rates.
- Earning: Hashing24 has different earning levels depending on the hash power you buy. The plans are categorized into the 12-month, 18-month, 24-month, and 30-month plans. The mining then starts at 00:00 UTC, and the earnings are credited to your account once a day for each previous mining day.
- Platform supported: First, the mining company supports web browsers, such as phones and computer browsers, because it is cloud-based. It also supports Windows 10, Mac, and Linux.
- Speed: The speed in Hashing25 varies depending on the plan you choose and the purchase’s hash rate. For example, you can mine at 1TH/s for 0.002474981 BTC in the 18th-Month plan.
- Security: Hashing24 has been operating since 2012 and is considered one of the oldest and the most secure cloud mining service. There hasn’t been any reported case of an account being hacked.
| đź‘Ť Pros | đź‘Ž Cons |
|---|---|
| It offers low daily charge that’s affordable for many users. | It only supports the mining of bitcoin. |
| There’s a guarantee of 100% uptime. | |
| It can also act as a wallet account with a dedicated address. | |
| 24/7 customer services |
4) Hashshiny
Hashshiny, founded in 2016, is one of the leading cloud mining platforms globally, boasting about 1.5% of the world’s BTC hash rate. It supports cryptocurrencies such as Bitcoin, Ethereum, Dash, Litecoin, and other crypto coins. Hashshiny allows you to earn ETH and reinvest it over time to increase your hash power.
#4
Earning Potential: One can earn $182.93 per day.
Minimum Investment: $10
Payout Frequency: Daily
Supported Platforms: Windows and Android
- Unique selling point: It has a mining calculator that helps you how much you can earn, and it also supports daily payouts and has a referral program.
- Ease of use: Using Hashshiny is straightforward as you sign up, verify your account, and start mining. The user interface is also user-friendly, and you can access and view different cryptocurrencies that the company mines. They also have a tutorial that helps new users with different mining coins.
- Earnings: Hashshiny offers different customizable hash rates that you can choose from. The contract is designed to run for two years though users can still withdraw their daily earnings.
The amount received is the difference between the revenue generated and the maintenance fee. The revenue generated depends on the hash rate you purchased and the value of Ethereum on that particular day. Moreover, you can earn a lifetime commission from all your referrals on the platform. Even as a free member, you still qualify to earn from referral commission. - Platform supported: Hashshiny supports cloud-based mining, so you don’t have to install any hardware. Instead, you can access your account on different browsers on your computer or phone. It also has an android and iPhone app that you can use to access your account.
- Speed: Hashshiny offers different mining hash rates. You can get as low as 100KH/second for $ 1.64. Remember that new users get a bonus of 5TH/s SHA-256 B upon registration.
- Security: Hashshiny supports 2FA to help boost your account security in addition to the regular password and log in. The platform is also safe and secure, as it’s built on blockchain technology, which means your earnings are safe from third-party interference.
| đź‘Ť Pros | đź‘Ž Cons |
|---|---|
| The support team is very quick. | The initial investment may not provide profits. |
| It supports a wide range of cryptocurrencies. | The free plan is slow, and you may hardly benefit from it. |
| It offers a secure account. | |
| The referral program is very competitive, and you can earn a lot of money. |
5) Genesis Mining
Genesis Mining is one of the world-leading hash power providers. The company supports many cryptocurrencies such as Ethereum, Bitcoin, Zcash, and Litecoin. The company has been in existence since 2013, and it now boasts of different mining rigs.
- Unique Selling Point: The platform’s main advantage is its generous affiliate program. Users can get up to 2.5% of every sale they make at the beginner level, and they can rank higher if they collect more than $100 in referral sales.
Moreover, Genesis mining has partnered with different hardware producers, meaning that they get their hardware cheaper than the market price. They also have farms in areas with a cheap electricity supply and minimal need for cooling. - Ease Of Use: Genesis mining is user-friendly. The signing up process is straightforward, and the verification process is completed immediately. The user’s interface is also mapped in a friendly design so you can view your account, purchase hash power, and check your mining activity.
- Earnings: There are different earning levels in genesis mining. The cloud mining contracts run for 24 months, after which you have an option to reinvest.
- Platforms supported: Genesis mining offers a cloud-based mining platform to access your account using mobile and computer-based browsers.
- Speed: Mining Ethereum starts at 12.50MH/s to 125MH/s. There’s also a custom plan to enter the hash power you wish to purchase.
- Security: Genesis mining is Kaspersky verified and runs in a decentralized platform. Therefore, it’s secure from fraud, third-party interference, and downtime.
| đź‘Ť Pros | đź‘Ž Cons |
|---|---|
| Easy to use platform. | Mining isn’t the most profitable option if Ethereum is in bull run. |
| Secure and credible mining farm. | It does not provide learning resources to the users. |
| No extra cost for shipping or cooling. |
Link: https://www.genesis-mining.com/ethereum
Advantages of ETH Cloud Mining
Here are some Important Pros/Benefits of Cloud Mining
Pros:
- No technical knowledge required: You don’t need to know the terminologies such as mining farms or ASIC associated with crypto mining or how to purchase and install miners. You only need to purchase the hash power in cloud mining, and you start mining.
- It’s affordable to start: Unlike, in physical mining, you don’t need to purchase any hardware or incur any operating cost, and you have to rent the mining services for as low as $150.
- No heat and noise: Equipment such as the S9 Antminer consumes over 1000 watts per hour. This amount of energy consumed produces much heat, which can be unbearable when placed in your home. Also, the cooling process produces much noise. In contrast, you don’t have to deal with that when working with cloud mining. All the equipment remains at the mining farm.
Disadvantages of ETH Cloud Mining
Here are some Important Cons/Drawbacks of Cloud Mining
- Low earnings – Cloud mining involves renting the mining service from a hosting company. Therefore, the company will retain part of your revenue as the renting fee. Moreover, it’s more profitable to buy crypto than mining when the market is in a bull run.
- Fraud cases – Once payment is made in the blockchain network, it’s impossible to cancel it. This, together with lack of regulation, has contributed to the rise of many fraudulent companies that will sell fake mining contracts to users and not pay them.
FAQ:
âť“ How do I find the right cloud mining site?
The right cloud mining services should be secure, offer excellent hash rates, and be free from scams. To find such a site, you can read online reviews and check their trust score from sites such as Trust Pilot. Check our list of the Best Cloud Mining Sites.
⚡ Which are the Best Cloud Mining websites?
Here are the Best Cloud Mining Websites:
- StormGain – Best for Experts and beginners.
- ECOS – Its operating system, which works with legal status.
- Hashing24 – Best for stable mining
- Hashshiny – Best for fast and safe mining option
- Genesis Mining – Best for ethereum cloud mining
🚀 Can I earn enough in free Ethereum mining sites?
Free Ethereum miners will only pay fewer profits to their users, so you can’t earn enough. If you wants to earn more, you should consider purchasing more hash power.
🏅 Can I lose my money in a free cloud mining site?
Many cases have been losing money to fraudulent sites that promised to pay you. Therefore, just because a site promises free mining doesn’t mean you can’t lose your money. Some sites won’t pay you or ask you first to deposit before withdrawing your money. So, it’s essential to check the site’s credibility before putting any money into the site.
👉 How to withdraw your earnings and transfer them to your wallet?
To withdraw your earnings, follow these steps.
- Enter your wallet in the correct format in your account’s wallet or withdrawal section. Some sites will support ETH withdrawals and some only bitcoins.
- Request withdrawal.
Once the withdrawal is approved, the earnings will be sent to your wallet, and your wallet will be credited once the network confirmations are completed. Also Check our list of the Best Ethereum Wallets.
âť— Why pay for Ethereum cloud mining when you can use it for free?
As mentioned, free cloud mining isn’t profitable. Paid Ethereum cloud mining offers the following advantages:
- High profitability because of high hash power.
- Instant and daily withdrawals.
- Access to more and better mining and learning resources.
đź’» How to watch out for scammers?
The best method to avoid scammers is by reading reviews about a site before signing up or investing your money in it. Sources such as Trust Pilot are an excellent place to review sites and check if they’re legit or scams.
âť“ What is the Key Difference Free Vs. Paid Cloud Mining?
Ethereum cloud mining can either be free or paid. You hire the mining devices at a certain cost that can be billed once, monthly, or yearly in the paid plan. On the other hand, you don’t have to pay any money to access the mining services in a free plan. However, the host can deduct some money from your earnings as a rental fee.
Most mining hosts that offer free cloud mining always have an option to upgrade to paid plans. So, it’s common for beginners to start with free plans before upgrading to paid plans. It’s worth knowing that the paid plans will pay more than the free plans, so you’ll have to upgrade if you want to earn more.
