Many people struggle when they try to make money through mining using their own computers for this task. Mining in an efficient way requires much more than that. Specific GPUs are optimal, but setting it up and paying the maintenance and energy costs may prove to be a bad financial decision, check Ethereum Price.
On their other hand, one can always choose to cloud mine. What does it mean? It means someone (a company) sets up a huge mining hardware (datacenters), choosing the most efficient equipment in terms of mining productivity, places them in cheap energy countries and charges some money for people who want to use this mining capacity. This process generates scale economies that may ensure a good profitability for the company who sells this service.
But what about the clients? Do they get a share of the profit? Or will it end up being a bad investment decision?
After some research, I started cloud mining Ether at Genesis Mining today. I am going to keep you informed about the results I achieve. My idea is to weekly:
1.Calculate the output of Ether
3.Calculate net income
4.Calculate the Internal Rate of Return (IRR) of the investment and compare it with other alternatives
5.Do some inference about its trend.
Please come back to see the results. If you have any other question or are curious about anything else, let me know! in comments.