Service Update: January 2018

Category / Press releases / Cloudmining Industry Published on

Hey Miners! Here’s our general service status update for January 2018. Please take a look to see what happened last month, the current status of our service and the plans for the future!


New Years Video Interview with CEO Marco Streng

2017 was an astonishing year. With Bitcoin reaching the all-time high of about $20.000 near the end of the year, there has been a lot to be excited about. And with many new opportunities appearing left and right it’s easier for everyone to see what this market is capable of, and we’re glad to experience this with all of you! Sometimes, of course, a market correction is due and as the bright Andreas Antonopoulos once said: “When in doubt, focus on the fundamentals.”


To give a personal outlook on the craze in this industry, we have recorded a video reflecting on 2017 and what’s to come for you and Genesis Mining in 2018. As a bonus, we also included a tour of one of our mining facilities that was completed recently!



Ethereum (ETH) Pre-Sale Launch

Additionally, we’re glad to report that we’ve started a new Ethereum Pre-Sale! We also wanted to note that due to the increasing amount of transactions for every Blockchain, we’ve both increased the entry-level pricing and minimum payout thresholds for Ethereum and other contract types. This was done to improve the payout experience, as small hashpower only produces payouts that a) take a long time to meet the payout threshold and b) will be eaten up by current network transaction fees. We’re watching the situation closely, to maximize your efficiency while keeping all network related situations aligned.


We’ve been bullish on Ethereum from the start, and many of you might ask yourself what’s going to happen with your mining contract, should Ethereum switch to Proof-of-Stake sometime in the future. Rest assured: We will continually add new GPU mineable cryptocurrencies and will let you vote for the ones you want most in the process. The mining market for GPU based proof-of-work coins keeps expanding and we’re working on providing as much supply as possible! So, should the POS be initiated before the end of your Eth contract timeframe of two years, you will be able to switch and mine other cryptocurrencies.


Bitcoin Gold (BTG) added to the mining portfolio

Bitcoin Gold (BTG) has been added as native mining option to Zcash (equihash algorithm) contracts and as an automatically traded option to all other contract types! We will add more mineable GPU coins to all contract types on an ongoing basis.


Zcash (ZEC) Pre-Sale Launch

The Zcash Cryptocurrency is now more than one year old and as with Ethereum we are opening a Pre-Sale for this contract type. There are many interesting and successful new Cryptocurrencies based on the Equihash mining algorithm that we are looking into adding to the mining portfolio.


Genesis Mining at the #IndiaDigitalSummit

We took the stage at the #IndiaDigitalSummit in New Delhi. Fantastic response to #cryptocon and shout out to everyone who visited our booth, our event partners @zebpay and the organizers @IAMAIForum! #12IDS #Bitcoin #Blockchain #Fintech



CNBC interview with Genesis Mining’s CEO Marco Streng

In November 2017, our CEO Marco Streng gave an interview on CNBC and explained how Genesis Mining ensures that mining remains decentralised.




Stay tuned for the next service update.


Sincerely yours,
Your Genesis Mining Team

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