The Ethereum cloud mining is not so popular, but there are a few companies that have begun offering this option. You just need to sign the contract and pay the rent to become the Ethereum miner. In this case you are spared from all kinds of troubles, you do not need to load the Geth, to use the command line, and most importantly – you not have to deal with the technical maintenance of the equipment. As the maintenance is often a major headache for coin miners. Thus, the mining in the cloud helps to save both the time and nerves.
Companies that offer the Ethereum cloud mining win for two reasons. First, they purchase the equipment for the cryptocurrency producing in bulk at much lower prices than at the retail purchase. In addition, they place their farms in places with very low costs – this includes costs for the electricity and cooling systems, and for the rental of premises. For example, some of farms are physically located in Iceland where is significantly colder than in many other countries and, respectively, a cost of the cooling of the equipment is much lower.
Many mining companies offer to sign a contract for one year, and during this time you will no longer incur costs and pay only once, and after that begin to get a profit. Skeptics can begin to argue, allegedly, as companies can do it, because in the course of a year anything can happen, even to the point that the price of the Ethereum will drop to almost zero.
But everything had thought out – the services are insuring their activities, so in the case of an insured event, they will get a full refund. In addition, the company guarantees an uptime for its customers – this means that if the equipment on what you have rented the capacity breaks down for some reason, it will change to a new almost instantly – so you don’t lose time and therefore money.
Another advantage of this wotking type is that you will not need to withstand a noise generated by the cooling fans during an operation.
In addition, the services of the Ethereum cloud mining usually offer flexible terms to their customers. So, you can rent different amounts of power. It is logical that the more power you rent, the more discount you get. The same applies to the duration of the lease – the longer, the cheaper in terms of one month.