ViaBTC Now Offers Cloud Mining Contracts

Mining pool ViaBTC has just announced its first batch of cloud mining contracts. The company is offering anyone the chance to leverage ViaBTC’s deployment of mining machines.

Also read: Trump’s Trade War With China Could Boost Chinese Bitcoin Demand

Now Anyone Can Join ViaBTC’s Network Hashrate

ViaBTC is a large mining operation that holds roughly 7.9% of the network’s global hashrate. The pool is now inviting people to purchase cloud mining products. The company will be running top-of-the-line Antminer S9s with batch 1 of 2.4 PH/s cloud hashrate, available for purchase worldwide.

Batch 1 sales are available for purchase until November 22. The price per share will be 0.21 BTC during the cloud mining contract sale. ViaBTC says after purchasing shares, the company will confirm the order and calculate yields 24 hours after settling payment. With the company’s mining rigs churning out blocks, ViaBTC says they wanted to offer an “easy way for everyone to mine bitcoins.”  

The First Wave of Mining Shares

The first deployed batches of the S9 hashrate will be broken down into 2,400 shares. The company reveals its power consumption is 100 watts per share averaging 0.84 CNY per day per share. There are also management fees of 6% of the mining income to cover mining farm maintenance, repairs, and staff expenses. ViaBTC pool utilizes a PPS+ method with mining income theoretically stemming from PPS+ yields.  

Batch settlements will occur after fees are deducted, and calculations are against the CNY/bitcoin rate from Chinese exchanges. Daily incomes will be settled during the morning at 8 am Beijing Time. Cloud mining users can check here to figure out daily yields for single share purchases.

ViaBTC Open to the Bitcoin Unlimited Client

ViaBTC plans to continue its course as a leading mining organization. The pool is the 5th largest mining outfit in the industry, and is very open to testing alternate clients. In early October the group started mining Bitcoin Unlimited blocks with a coinbase vote of a 2MB block size increase. The pool has no problem being vocal towards promoting alternate clients, as ViaBTC hopes the block size will increase. The mining operation recently allocated 100 percent of its hashrate to Bitcoin Unlimited.

The mining pool hopes its cloud offering can give more people the opportunity to mine. However, ViaBTC wants potential customers to know that bitcoin’s price value fluctuates as well as mining difficulty. Price drops and increased difficulty can affect cloud mining shares, and ViaBTC says all users should evaluate mining risks. The pool hopes people will check out the latest offer and aims to continue to be a worldwide leader in the mining industry.

What do you think about ViaBTC’s cloud mining operation? Let us know in the comments below.

Images courtesy of ViaBTC, Shutterstock, and Pixabay. 

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