5 Best Cloud Mining Projects for 2022
Find the five best cloud mining projects for 2022 to participate in cryptocurrency mining
PremiumCloud mining is a process in which users buy contracts from a mining facility to conduct cryptocurrency mining. It allows users to participate in mining without purchasing expensive mining equipment or understanding the technical knowledge to maintain the hardware.
When searching for a cloud mining project, it is essential to do your research to ensure that the project is not a scam. Many cloud mining services have ended up running away with customers’ funds, so choosing a service with a track record is crucial.
With that being said, here are five of the best cloud mining projects for 2022.
The 5 Best Cloud Mining Projects for 2022
- Copium Protocol - The best overall mining project for passive cryptocurrency mining
- IQ Mining - A platform that combines cloud mining and FX margin trading
- BeMine - A complete cloud mining project that can also hosts other users’ hardware
- Genesis Mining - One of the largest cloud-based mining solutions
- Let Me Cloud - A UK based cloud mining company
A Closer Look at the 5 Best Cloud Mining Projects for 2022
1. Copium Protocol
Although it is not strictly a cloud mining service, Copium Protocol still tops this list as its service is similar to cloud mining in a roundabout way.
Copium Protocol is a multi-pronged cryptocurrency mining ecosystem that provides an easy method to participate in passive cryptocurrency mining. The project has a mission to revolutionize the entire mining sector by removing unnecessary technical jargon that often prevents newcomers from entering the space.
The entire ecosystem is based around Copium Mining, an established mining facility located in Otago, New Zealand. What sets this mining facility apart from others is that it is entirely powered by 100% clean, green, renewable energy. The energy comes from Hydroelectricity that is generated in the foothills of New Zealand’s Southern Alps.
Copium Mining is the centerpiece of the Copium Protocol, as all the daily revenue generated from mining cryptocurrency is used to buy Copium Coin from the open market.
Overall, the ecosystem is comprised of the following:
- Copium Mining
- Copium Coin
- Copium Protocol Investor Pass
- Copium Staking
The initial launch phase of Copium Protocol will see the release of the Investor Pass - a collection of 10,000 NFTs set to be minted early-mid October on the Ethereum Network.
Holders of the investor pass are entitled to the following benefits:
- An exclusive airdrop of 10,000 Copium Coins.
- A daily allocation of 10 Copium Coins if the NFT is staked.
- Higher interest rates earned through the Copium Staking platform.
- Automatic entry to monthly Copium giveaways.
The Investor Pass NFTs are expected to be sold through a Dutch Auction on the project’s website. The NFTs will begin at a starting price of 3.5 ETH, but the first 2000 people that register their interest early will receive a guaranteed mint spot at a lower, fixed cost of 3 ETH.
The funds generated from the NFT sale will be used to upgrade the infrastructure and hardware at Copium Mining. Once the facility has been upgraded, all the daily revenue generated from the mining facility is used to purchase Copium Coin from the open market.
Copium Coin is the ERC-20 token that powers the ecosystem and will be simultaneously released to the public with the Investor Pass. However, Copium Coin will also host a presale for the coin that will run for 60 days before the launch to generate initial liquidity for the token.
Any Copium Coin bought through mining revenue is directly sent to a burn address, removing it from the supply and making Copium Coin a deflationary asset.
The team will launch the Copium Staking Platform after the successful release of the Investor Pass. The staking platform allows Copium Coin holders to stake their assets in return for more Copium Coins. The returns are variable, and the longer the coins are locked, the higher the interest rate returned.
Furthermore, Investor Pass holders are entitled to higher staking rates. In fact, the lowest possible staking rate for the Investor Pass (12%, locked for 30-days) is still higher than the highest possible public staking rate (11%, locked for 24 months). Therefore, it is essential to own an Investor Pass to maximize your ROI when staking.
Overall, although it is not strictly a cloud mining platform, Copium Protocol has similarities with the top-tier cloud mining providers by using mining revenues to provide sustained demand for its native deflationary token. Users can earn from this protocol by investing in the Investor Pass NFTs or purchasing Copium Coin when it is launched to the public.
2. IQ Mining
IQ mining is a platform that combines cloud mining with Forex margin trading to provide a complete platform for a wide range of users.
It allows users to mine BTC and other altcoins without needing to invest in expensive mining equipment.
The project was founded in 2016 by a team of experts in blockchain programming and engineering. They own data centers in Canada, Russia, Iceland, Georgia, Algeria, and China.
Their cloud mining service allows users to purchase contracts to start mining with. They currently offer the four following contracts;
- 1-year contract
- 2-year contract
- 5-year contract
- Lifetime contract
The longer the contract length, the higher the returns are for miners. The platform pays out daily in either BTC, ETH, or USDT. Furthermore, the platform offers an Income Booster feature that auto-invests all mining revenue and allows users to earn up to 180% a year.
IQ mining also offers a complete forex and cryptocurrency trading platform alongside its cloud mining service. The platform allows traders to trade crypto, forex CFDs, and options using a highly advanced trading interface. Additionally, they provide leverage up to 100x for any trading strategies. Copy trading is one of its best features, allowing users to copy professional traders and profit from their expertise.
One of their newest features is to pledge mining contracts to use as leverage while trading. Once a user pledges their mining contract, they receive funds up to 100% of the contract’s worth to be used on the trading platform to multiply profits. After the loan from the contract has been repaid, the user can continue mining and earn a profit.
Overall, IQ Mining has provided a perfect balance between cloud mining and professional trading.
3. BeMine
BeMine is a unique cloud mining platform that allows users to mine cryptocurrencies online without needing to manage mining hardware. Instead, BeMine uses its data centers for joint cryptocurrency mining, enabling users to rent hashing power from their service.
In addition to cloud mining, BeMine also hosts other people’s hardware and sells ASIC miners directly.
The project was founded in 2018 and provides its services from Russia.
One of the great things about BeMine is that it doesn’t provide mining contracts. Instead, it allows users to purchase ASIC hardware to begin mining. Of course, ASIC miners can be pretty costly. Therefore, BeMine allows users to either purchase an entire ASIC or choose to invest in a fractional share of an ASIC.
Payouts are made daily to your BeMine dashboard, allowing you to withdraw coins or buy new mining machines.
BeMine also has a hosting service dubbed “Mining Hotel." This allows users to send their ASICs to the BeMine data centers to be used in mining. It provides a method for users to mine with their own devices without participating in maintenance.
BeMine owns four data centers with a capacity of 70 mW/h in each across Russia.
Lastly, BeMine also sells ASIC mining equipment to users so they can mine in their own location. In addition, they sell top-tier miners from some of the largest mining companies, such as Bitmain and MicroBT.
Overall, BeMine provides an interesting angle on cloud mining, removing cloud contracts from their service and allowing users to invest in the hardware directly.
4. Genesis Mining
Genesis Mining is one of the largest cloud-based mining companies, with over 2 million customers in 100 different countries.
The business was founded in 2013 when the team set up its first mining facility in Eastern Europe. This was actually the first Bitcoin farm in the world. Since then, they have expanded to Iceland, Norway, and Sweden to offer ten different mineable cryptocurrencies through six different algorithms. The currencies that users can mine include Bitcoin, Dash, Ethereum, Litecoin, ZCash, and Monero.
As Genesis Mining is a pioneer in the industry, they have established strong relationships with mining equipment companies. Therefore, they can purchase the hardware below the market cost and pass the savings on to their customers.
Users purchase mining contracts from Genesis Mining and receive daily payouts through the platform.
Once a contract has been executed, users can track the progress of their mining endeavor through the Genesis Mining dashboard. Additionally, users are able to easily split their rented hash power between different coins, allowing them to diversify their mining portfolio and hedge their risk.
Although they might be a little expensive relative to other mining companies, the uptime on their miners is comparatively higher - meaning you are still likely to earn more through Genesis Mining.
Users can pay for their mining contracts in cryptocurrency or through credit cards. Genesis Mining is highly popular, so securing a mining contract becomes difficult if you aren’t quick enough to snap them up when they are released. As a result, the minimum contract amount is $500.
Since its inception, the company has conducted over 10 million transactions with cryptocurrencies, ensuring that all its customers are being paid on time.
Finally, the great thing about renting from Genesis Mining is that they mostly use geology and geothermal energy to power their mining operations.
5. LetMeCloud
LetMeCloud describes itself as the most customer-centric Bitcoin cloud mining platform.
The company was founded in 2016 and is based in the UK with its head office located in London. It has several state-of-the-art data centers located in Norway, Sweden, Iceland, and Canada.
LetMeCloud provides its cloud mining services to over 25,000 customers in over 70 countries.
Users simply have to purchase a mining contract form the platform to get started. The minimum initial investment is set at $500.
Once a mining contract is signed, users receive daily payouts when requested and can control the mining contract from any device through the LetMeCloud dashboard.
Currently, LetMeCloud offers the following three different one-year contracts which provide different returns;
- Standard plan - This plan comes with 48,000 GH/s of hashing power and claims a 180% profitability. There is a $500 minimum deposit for this contract. Their website claims an $1,800 profit from a $1,000 investment.
- Start Bonus- This plan comes with 96,000 GH/s of hashing power with a 200% profitability return. The minimum rent for this contract is $1,000 and the website claims a $21,600 return from a $10,000 investment.
- FT Bonus - This plan comes with 192,000 GH/s of hashing power and 213% profitability. The website claims a $239,400 return from a $100,000 investment. The minimum contract rent for this package is $2,000.
LetMeCloud offers a 99.97% uptime for its cloud mining service and provides 24/7 support through chat and email.
The great thing about LetMeCloud is that it provides official documents at the end of mining contracts to prepare a tax return statement.
Conclusion
As you can see, there is a wide range of cloud mining projects that you can use to mine cryptocurrency in 2022. However, each of these projects has unique characteristics that set them apart from one another. Therefore, you might have to try a couple of these options to find a platform that suits your needs.
In our opinion, the best option is undoubtedly the Copium Protocol. This project allows users to invest in cloud-based cryptocurrency mining in a roundabout way by using the revenue generated from its mining facility to provide sustained demand for its native deflationary token.
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