Hosted Mining
The Hostess With The Mostest
Bitcoin mining requires a lot of power from specialised computers in order to bake all those transactions in to a new block.
These computers have been known to make a lot of noise, generate a lot of heat, cost time and money to repair, and, if you live in an expensive part of the world, increase your electricity costs as well.
If those are things that you don’t want to contend with, or you don’t have the infrastructure to do home mining, then there is another way in the form of hosted mining.
What Is Hosted Mining?
Instead of you having to make all the considerations for setting up your own Bitcoin miner, including arranging repairs and maintenance, hosted mining companies will take a lot of the leg work away for you as they will have already got the infrastructure in place.
These companies will often have big warehouses stacked to the brim with various miners that have been tested, engineer checked and ready to go as soon as you are.
Some allow you to send a Bitcoin miner you might have already bought and they’ll host it for you.
Different companies have different approaches but generally speaking, you will need to pay for the miner or the hash power the miner will produce up front, along with the electricity consumption.
What If My Miner Needs Repair?
It depends on the company you are mining with but some will foot the bill for you and handle all repairs, which could result in a higher upfront cost when buying the miner or electricity. Other companies will charge you for the repair but will carry it out themselves.
In some instances, if the miner is irreparable then you may lose out but you will need to check the terms and conditions of service of the company you registered with.
What Are The Cost Considerations?
Buying the miner from the company’s marketplace and paying for its electricity consumption will be your main costs.
The miner will usually be a larger upfront cost, although some services will allow you to buy fractions of a miner to help get you started on your mining journey.
The electricity costs will be every day that the miner is running and different companies have different approaches to this. You will need to ensure you keep your balance topped up each month to pay for the electricity costs otherwise you may lose the miner.
Some companies cover repairs but for those that don’t, you may need to factor in repair costs as well to your budget. These should be outlined in the terms and conditions of service but usually, there’s a contact form or Telegram group where you can reach out and ask.
What About The Energy Used?
We get it, climate and the state of the environment is on everyone’s mind, especially Bitcoin mining companies as they look for the cheapest energy on the market.
Despite all the FUD that mainstream media seem to report on, Bitcoin mining is actually one of the cleanest industries in terms of green and renewable energy used. This is continuously trending to more efficient miners and cleaner energy.
Bitcoin mining companies will seek out the most efficient, renewable energy sources and even waste energy that would otherwise be burned in to the atmosphere. This ensures their business remains profitable whilst making the most of the abundance of energy sources out there.
What Companies Provide Hosted Mining Services?
Below is a list of companies that provide hosted mining services that we’re aware of and we’ll add to it as we discover more. Some of these companies also don’t provide the miners themselves so you may need to buy one from another supplier and then pay for shipping.
These aren’t referrals or endorsements, you will still need to DYOR on these companies, see if their model fits in with your budget, check they are still operational and trustworthy:
| Service Provider | Website |
|---|---|
| Bitcoin Miner Hosting | https://bitcoinminerhosting.com/ |
| Blockbase Mining | https://blockbasemining.com/services/hosted-mining/ |
| Blockstream | https://blockstream.com/mining/ |
| Compass Mining | https://compassmining.io/ |
| Compute North | https://www.computenorth.com/asic-miner-hosting/ |
| Cryptostar | https://cryptostar.com/ |
| Cyberian Mine | https://cyberianmine.de/ |
| D-Central | https://d-central.tech/mining-hosting/ |
| DC Two | https://dctwo.com.au/miner-hosting/ |
| Frontier Mining | https://www.bitcoinmined.net/ |
| Mined Pool Technologies | https://www.minedpooltechnologies.com/miner-hosting/ |
| Minery | https://minery.io/ |
| Mining Colocation | https://miningcolocation.com/ |
| Mining Store | https://miningstore.com/mining-services/ |
| Power Mining | https://www.powermining.io/ |
| Quote Colo | https://www.quotecolo.com/bitcoin-miner-hosting/ |
| Total Crypto Mining | https://www.totalcryptomining.co.uk/ |
| Wattum Management | https://wattummanagement.com/ |
| Xive | https://xive.io/ |
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