Cloud Mining - What It Means and Tutorial

Bitcoin Mining & Blog  .  Sep 08 2023

Cloud Mining - What It Means and Tutorial

With this video tutorial, you can learn what cloud mining is and how to buy a cloud hash rate plan at Bitdeer.

With this video tutorial, you can learn what cloud mining is and how to buy a cloud hash rate plan at Bitdeer.

What is Cloud Mining?

Cloud mining is the process of mining crypto in the cloud through the leasing of computer power from a cloud mining service provider with large-scale datacenters. In traditional crypto mining, miners have to purchase mining machines, find cheap electricity, and configure equipment to participate in mining to receive block rewards. With the cloud hash rate service offered by Bitdeer, the complex mining process can be simplified."

What Type of Cloud Hash Rate Plans Does Bitdeer Offer?

Bitdeer offers various cloud hash rate plans for multiple cryptocurrencies such as Bitcoin, Filecoin, Dogecoin, etc. There are classic and accelerator modes, each with some differences in mining output.

Classic Mode: You’ll receive all cryptocurrency output during the entire mining duration, with a higher static revenue rate.

Accelerator Mode: You’ll be able to recover the cost faster. After you recover the cost, you’ll receive the proportion of the net profit of the mining output, lowering the risk of breakeven.

What is Included in the Cost of the Cloud Hash Rate Plan?

The total cost of the cloud hash rate plan includes the hash rate fee and electricity fee. The Cloud Hash Rate Fee refers to the one-time fee for renting different types of hash rates. The electricity fee covers the maintenance of the rigs and the cost of the electricity consumed and can be paid in installments.

How About the Mining Revenue of Plans?

You can check the average static revenue rate of the past 30 days in the cloud hash rate plan, i.e., the mining output after deducting the cost of the hash rate fee and electricity fee as the revenue, assuming that the mining output remains unchanged in the future.

Please Note: Bitdeer does not make any promises about your future earnings. Any future earnings figures mentioned here are estimates and assumptions.

How to Start Cloud Mining?

Mine popular cryptocurrencies in 5 simple steps:

Step 1, Create an account.

Step 2, Complete KYC Verification.

Step 3, Choose your preferred cloud hash rate service plan.

Step 4, submit the order after confirming the total fees.

Step 5, complete the payment and wait for the block to confirm the completion.

Read the graphic guide article "The Beginner's Guide" to explore more details. The mining rigs are ready to go. A few clicks to start mining!

VideoIntermediateCloud MiningTutorials


*Information provided in this article is for general information and reference only and does not constitute nor is intended to be construed as any advertisement, professional advice, offer, solicitation, or recommendation to deal in any product. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any information, or the future returns, performance or outcome of any product. Bitdeer expressly excludes any and all liability (to the extent permitted by applicable law) in respect of the information provided in this article, and in no event shall Bitdeer be liable to any person for any losses incurred or damages suffered as a result of any reliance on any information in this article.