One of the recurring topics of the past few months remains Bitcoin cloud mining, and its current struggle to be profitable for customers. Several Bitcoin cloud mining providers have halted their services for the time being, as other companies are working on new partnerships in order to provide their customers with a quality service. Genesis Mining, one of the few European Bitcoin cloud mining companies still in existence, has recently partnered with Spondoolies-Tech, a Bitcoin mining hardware manufacturer.
Spondoolies-Tech is a company well known for their Bitcoin mining hardware, as they are one of the few companies who create their own hardware and still keep a solid reputation in the digital currency community. However, even such a booming business sees the sale numbers dwindling as far as “home miners” are concerned. Given the current and upcoming Bitcoin mining difficulty, as well as the total network hashrate, mining at home is nearly futile unless you meet some very specific conditions.
Partnering with Genesis Mining, a Germany-based Bitcoin cloud mining operator, might come as a surprise to many people. Guy Corem, CEO of Spondoolies-Tech, has recently been very vocal about Bitcoin cloud mining services and the issue that so many of these “companies” turn out to be nothing but a scam afterwards.
To make matters even more intriguing, Mr. Corem does not believe in self mining either. In saying this, he means that he feels it to be unfair to mine with current in-stock Spondoolies-Tech Bitcoin mining hardware, as it would be direct competition for their own customers. It does not happen often we see a CEO of a Bitcoin hardware manufacturer being so outspoken on these matters.
On the other hand, this partnership could not come at a better time for Genesis Mining. The German Bitcoin cloud mining operator has managed to stay afloat during the recent Bitcoin price drops, and even though there was no immediate danger to customer’s profitability, it’s always better to prevent drastic measures than to fix them when it’s almost too late.
Note from the author : Genesis Mining event went as far as allowing their customers to switch Scrypt cloud mining contracts into SHA-256 cloud mining contracts a few weeks ago.
Spondoolies-Tech has brought a small amount of Bitcoin mining hashpower online in their datacenter, which is located in Israel. As Genesis Mining starts selling additional contracts to their customers, the Spondoolies-Tech hardware will be shipped over to the Genesis Mining data center, which is located in Iceland [to reap the benefit of more positive mining conditions in that country].
It will be interesting to see how this partnership will play out, and what it means for the future of Bitcoin cloud mining. After all, many people have been waiting for a genuine service which does everything in their power to help their customers. By the looks of it, Genesis Mining & Spondoolies-Tech are offering you exactly that.
Source : Press release via email
Websites : http://genesis-mining.com (use discount code DEB1 at checkout for a 3% discount)