Bitcoin cloud mining is a process that allows individuals to participate in the mining process without the hassle of managing hardware. With numerous cloud mining platforms available on the market, it can be hard to decide which is the best for you.
In this article, we are going to examine the best crypto cloud mining platforms available in the market today and explore their key features to help you decide what platform will fit your needs best.
Best Bitcoin cloud mining platforms in 2023:
BitFuFu – The best Bitcoin cloud mining platform overall
Binance – BTC cloud mining offering by the world’s leading exchange
Slo Mining – An easy-to-use cloud mining service
ECOS – Mining company with a dedicated cloud-based solution
TopHash – Great choice for beginners
GoMining – A unique GMT-powered cloud mining solution
The 6 best Bitcoin cloud mining platforms: Examining top choices in 2023
In the following sections, we are going to take a deeper look into the best cloud crypto mining offerings on the market and explore different avenues through which users can secure Proof-of-Work (PoW) networks via cloud services in exchange for mining rewards.
1. BitFuFu – The best Bitcoin cloud mining platform overall
BitFuFu is a Bitcoin cloud mining platform that allows users to get Bitcoin at a lower cost than outright buying it on the market. The platform has a hosting capacity of a whopping 300MW, which is derived from over 100,000 crypto mining rigs, including the very popular and efficient Bitmain Antminer S19 XP.
The platform allows users to purchase different contract lengths, from 120 to 180 days. Each contract carries a hashrate fee, a service fee, and an expected static output ratio (basically, the expected profit from mining rewards). There’s also the free option, which allows new users to manage $1,000 in free capital and withdraw their mining profits after 30 days.
Key features:
Cloud mining contracts spanning from 120 to 180 days
Users buy a certain amount of hashrate
Transparent calculation of Bitcoin mining rewards
Trial period for new users with the ability to withdraw mining rewards
Miner rental service
Native application for iOS and Android
Visit BitFuFu
2. Binance – BTC cloud mining offering by the world’s leading exchange
Binance, one of the leading crypto exchanges, offers cloud mining as a part of its Binance Pool platform. At the time of writing, Binance allows users to mine Bitcoin and no other PoW currency. The cloud mining contract can be purchased for as little as $8.38 (for 1TH/s) and lasts for 90 days. The cost covers the hashrate fee and electricity fee.
The expected daily mining output is 0.00000209 BTC (about $0.075). Binance notes that the rate can fluctuate depending on mining difficulty, the network’s hashrate, and unsuspected events that can disrupt the company’s ASIC miners.
Key features:
A cloud mining offering by the world’s largest crypto exchange
Transparent mining rewards calculation
90-day mining duration contract
BTC rewards are paid out daily
Part of Binance Pool, a platform that supports BTC, ZEC, LTC, and several other PoW coins
Visit Binance Cloud Mining
3. Slo Mining – An easy-to-use cloud mining service
Slo Mining is a UK-based company offering cloud mining services for a variety of cryptocurrencies. It offers a rich selection of contract terms (spanning from 1 day to 8 days), with prices ranging from $50 per contract to $32,000 per contract.
The company’s offering is primarily focused on Bitcoin miners but offers options for other cryptocurrencies as well, most notably Litecoin with specialized Bitmain Antminer L7 machines. Arguably the main selling point of Slo Mining is its simplicity and ease of use, which is great for those just starting out in the space and might feel overwhelmed with all the jargon.
Key features:
Very user friendly
Supports Bitcoin, Ethereum, Litecoin and other PoW cryptocurrencies
Uses the most sophisticated mining rigs
Focused on short-term contracts
Visit Slo Mining
4. ECOS – Mining company with a dedicated cloud-based solution
ECOS is another leading cloud mining company that offers easy access to specialized machines with vast amounts of computing power, which allows users to start earning BTC block rewards without having to invest in expensive equipment themselves.
The platform, which has a very simple and easy-to-use mobile application, allows users to purchase different hash rate contracts. The contracts start at $150. It is worth noting that the bigger the contract size, the lower the hashrate cost and the higher the bonus mining power. Both factors contribute to greater mining rewards.
Key features:
Contracts starting from $150
The higher the contract price, the higher the mining bonus
Hashrate cost is diametrically opposed to the contract size
The company sells ASIC machines and specializes in building mining farms
Free demo plan
Visit ECOS
5. TopHash – Great choice for beginners
Founded in 2018, TopHash is one of the pioneers in the crypto cloud mining space. The company manages a number of data centers that are used to provide cloud mining services for Bitcoin, Ethereum, Litecoin, and a slew of other cryptocurrencies.
TopHash’s plans start at just $5 with a term length of just 1 day. For the most demanding users, there’s the “Bitcoin Cloud Mining Pro” package, which has a contract term of 25 days and costs a whopping $29,800. The mining rewards are paid out daily. The company promises that its service is risk-free, so it could be argued that its offering is a great passive income method for cryptocurrency users.
Key features:
Contracts start at just $5
Fixed return ratio scales up with contract size
Daily payouts
The contract terms range from 1 to 25 days
Visit TopHash
6. GoMining – A unique GMT-powered cloud mining solution
GoMining, powered by its native GMT token, gives users the ability to get exposure to Bitcoin mining without having to purchase and operate mining equipment. While the platform is quite different from other options on this list, it still provides a way to earn cryptocurrency rewards on a daily basis.
GoMining allows users to gain exposure to BTC mining by staking the GMT token and holding the company’s NFTs. In total, GoMining controls data centers with a combined power capacity of 350 MW. They are also a part of over 20 mining pools (including Binance, Antiminer, etc.), which lowers the variance and increases the chances of sharing BTC mining rewards.
You can learn more in our GoMining Token review.
Key features:
Allows GMT holders to gain exposure to BTC mining infrastructure
No need to purchase cloud mining contracts
Periodic token burns based on crypto prices
Requires KYC
Visit GoMining
Bitcoin cloud mining FAQs
Is Bitcoin cloud mining real?
Yes, Bitcoin cloud mining is a real concept. It involves remotely renting mining power from a provider to participate in the process of validating transactions on the Bitcoin network. However, the legitimacy of specific services can vary, so thorough research is crucial.
Is Bitcoin cloud mining still profitable?
The profitability of Bitcoin cloud mining depends on factors like the current price of Bitcoin, mining difficulty, and maintenance fees charged by the cloud mining provider. Market conditions can fluctuate, impacting profitability.
Is it safe to invest in cloud mining?
The safety of investing in cloud mining varies among providers. Some, like the ones included on our list, are reputable, while others may engage in fraudulent activities. Researching the credibility of a cloud mining service and understanding its terms, fees, and reputation in the community is crucial before deciding to invest.
The bottom line
Bitcoin cloud mining presents a compelling option for individuals looking to participate in cryptocurrency mining without the complexities of managing hardware and the expenses associated with purchasing their own mining equipment. The reality is that Bitcoin mining using even the most powerful GPUs for mining is unprofitable, given the current state of the market.
If you want to try using your mobile phone to earn cryptocurrency rewards, check out our list of the best crypto mining apps for Android.
