Our mining competition, gulp

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KioskAdmin

Active Member
Jan 20, 2015
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I didn't know altcoins had large operations like this

Proposal - let's figure out what they're using

Iceland for cheap power. They don't look to have traditional cold aisle containment.

Hardware are those USB PCIe x1's?
 

JazzFaucet

New Member
May 19, 2017
29
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I am somewhat perplexed by the cloud mining business model. Their Monero "Houdini" plan will set you back $2399, for which you get 3khs for two years. All things being equal, this would yield in the vicinity of 0.2 XMR per day, or 150 XMR by the end of the contract. At $40 USD/XMR this represents an internal rate of return (IRR) of 56%, which sounds pretty good. Of course its a purely speculative play, and could not be considered an investment as the risks are unable to be quantified. If the customer can potentially make 56% IRR, with Genesis obviously still making a profit on top of that, why are they bothering with customers at all? Why are they not running their entire mining operation as a private pool and keeping all of the revenue for themselves? To offload the risk?