8 Best Bitcoin Mining Sites – Compare Crypto Mining Platforms

Unless you are looking to invest tens of thousands of dollars into specialist hardware and electricity consumption – you likely won’t get rich Bitcoin mining. For a low level of passive income however, there are now a number of leading cloud-based sites that enable you to mine Bitcoin without needing to purchase any ASIC kits or consume vast amounts of energy and power.

Instead, it’s just a case of investing some money into an allocation of mining hash rate or power remotely. In this guide, we compare the best Bitcoin mining sites online and whether or not this niche market is worth it.

Read on to find out which coins the above crypto mining sites support – alongside fees and potential ROIs.

The Best Crypto Mining Platforms Reviewed

When searching for the best crypto mining platforms, you first need to ensure that your chosen provider is legitimate – as there are many scam artists operating in this space.

You then need to explore what coins the platform allows you to mine and what setup costs you will need to meet. Then, be sure to assess what fees apply and how much you can earn in terms of the ROI.

Taking the aforementioned metrics into account, below you will find reviews of the overall best Bitcoin mining sites to consider today.

1. Copium Protocol – The Best Platform for Passive Crypto Mining

Copium Protocol is the best platform for passive cryptocurrency mining. Although it isn’t strictly a Bitcoin mining site, it does use Bitcoin mining to provide profits for its users in a roundabout way. 

The entire project is centered around Copium Mining, an established real-world mining facility located in Otago, New Zealand. This mining facility is unique from every other project on this list as it is totally powered by a surplus supply of clean, green, renewable energy. The renewable energy is hydroelectricity generated in the foothills of the Southern Alps. 

Copium Protocol uses the daily revenue generated from Copium Mining to purchase Copium Coin, the native ERC-20 asset that powers the ecosystem, from the open market. Any Copium Coin bought using the mining revenue is sent to a burner address, removing the Copium Coin from the total supply. This makes the token a deflationary asset that becomes increasingly scarce over time. 

The project will launch its initial phase by releasing the Copium Protocol Investor Pass NFTs on November 9th, 2022. This collection consists of 10,000 NFTs that will mint on the Ethereum network and will be sold through a Dutch Auction on the project’s website. The price will start at 3.5 ETH, but the first 2000 people to register early will receive a guaranteed mint spot at a lower price of 3 ETH.

The Investor Pass NFTs are used to distribute Copium Coin through the community. Every NFT holder will receive an exclusive airdrop of 10,000 Copium Coins. They can also earn an additional allocation of 10 Copium Coins per day if they stake their NFT on the platform.

The funds generated from the NFT sale will be used to buy new mining equipment and upgrade the infrastructure at Copium Mining, allowing it to produce more daily revenue to buy Copium Coin.

Copium Coin holders can earn an additional APY by staking their coins on the Staking Platform for a range of locked and unlocked periods. Investor Pass holders earn a much higher interest rate when compared with the public staking rates.

Overall, Copium Protocol has created the perfect ecosystem to participate in crypto mining without having to understand the technical jargon associated with it. The mining revenue provides a sustained demand for the native token, which becomes increasingly scarce as more is burnt. Users can earn a profit from this project by either buying an NFT or the Copium Coin. 

What We Like:

2. ECOS – Great and Legit Crypto Mining Site for Custom Contracts

ECOS is home to an extensive crypto ecosystem that covers a variety of products and services. It is the only completely legit mining company. ECOS located in a Free Economic Zone in Armenia and receives electricity directly from the Hrazdan TPP. In addition to cloud mining, ECOS also offers a secure wallet and a leading crypto exchange. You can get started with this platform online or via the iOS/Android app. We like ECOS for its customization tools, which allow you to create a Bitcoin mining contract that meets your requirements.

For instance, you can set parameters linked to the contract duration and price. You can even state what price you believe Bitcoin will be when your custom mining contract expires, which allows you to get a clearer idea of the potential ROI on offer. In terms of profitability yields, this will ultimately depend on the contract that you create.

As a prime example, let’s say that you opt for a 36-month contract and you believe that Bitcoin will be worth $60,000 when it expires. In this scenario, your RIO would amount to 99%. We also like that ECOS breaks down your profits on a daily, monthly, and annual basis.

Using the same parameters and based on an initial investment of $5,000 – this would yield $278 per month in passive income. In terms of supported markets, you can only engage in Bitcoin mining. Nonetheless, another benefit of using ECOS is that the platform offers real-time customer service via a live chat facility. Also ECOS provides all new users with a free trial contract for one month in order they can test the platform.

What We Like:

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Shamining – Top Bitcoin Mining Site

Update – the Shamining website is currently down, we’ll update this review when it’s live again.

When it comes to reputation, profitability, and fees – Shamining is arguably the best Bitcoin mining site. This platform is a cloud mining site, which means that you can earn a passive income without needing to actually buy any hardware equipment or consume vast amounts of electricity. Instead, you will be renting a Bitcoin mining rig remotely.

This perhaps sounds more complex than it actually is. After all, in order to get started on the Shamining platform, it’s just a case of registering an account and deciding which Bitcoin mining farm you wish to invest in. Then, you can start generating income by making a deposit to pay for your crypto mining contract.

The minimum deposit required at this popular Bitcoin minimum site is just $250.The platform notes that the average income multiplier is 1.43x, so this means that for every $1,000 invested – you can walk away with the crypto-equivalent of $1,430. We like the fact that Shamining has been around since 2018 and that it has been used by over 70,000 people.

Shamining offers a variety of contracts that you can choose from – each of which comes with various minimum investment requirements and lock-up terms. With that said, if you’re unsure which contract is right for you – Shamining offers a useful calculator that allows you to assess what ROIs are available based on the amount you invest.

When it comes to fees, charges are built into the ROI that you see. As such, this makes it easy to assess your crypto mining profitability levels. We like that Shamining enables you to cash out your proceeds whenever you like, albeit, you must wait for the respective contract to settle. You also have the option of reinvesting your profits to benefit from compound interest.

What We Like:

4. GMINERS – Average Bitcoin Cloud Mining Yield of 150% 

Next up on our list of the best crypto mining sites is GMINERS. In a similar nature to both Shamining and ECOS, GMINERS is a cloud mining platform that specializes exclusively in Bitcoin. As such, if you’re looking to mine other digital currencies like Ethereum or Dogecoin, you will need to consider another provider.

Nevertheless, this Bitcoin mining site offers an average ROI of 150% – which is very competitive. In order to get started, you will need to register an account and meet a minimum deposit of $250. You will then have a number of Bitcoin mining contracts to choose from – each of which come with a minimum term of one year.

We like GMINERS for the ease with which you can keep tabs on the value of your Bitcoin mining operations. This can be achieved via your smartphone, tablet, or desktop device. When it to comes fees, you won’t be charged anything to set your account up. You will, however, be charged a contract fee of $0.0120 per 1 GH/S.

What We Like:

5. ChickenFast – Top Platform for Beginners to Mine Bitcoin

If you’re looking for the best Bitcoin mining site for beginners, perhaps ChickenFast is worth considering. This mining platform was designed with newbies in mind and thus – you don’t need to have any prior experience to get started. Crucially, you are not required to set your own contract parameters.

Instead, all you need to do is specify how much money you would like to invest into Bitcoin mining. Then, the underlying ChickenFast algorithm will determine the best contracts at the time of the investment. We like that ChickenFast offers daily Bitcoin payouts, which means that you can reinvest your profits back into new mining contracts.

If you do decide to cash out your proceeds, then you only need to meet a minimum withdrawal of 0.0003 BTC. Another thing to note about ChickenFast is that all fees are built into the ROI that you see on your account dashboard. This makes it a breeze to know exactly how much you will be making.

What We Like:

6. HashShiny – Cloud Mining Site That Supports Multiple Coins

If you’re looking for a cloud mining site that supports multiple coins – then HashShiny is one of the best options in this market. In addition to Bitcoin, this popular provider also allows you to mine Ethereum, Zcash, Litecoin, Dash, Dogecoin, and Decred. Moreover, you are not forced to stick with one coin, as HashShiny enables you to mine multiple networks simultaneously.

To get started with this provider, you first need to register an account and make a deposit. You can fund your mining investments via cryptocurrency as well as debit/credit cards and Paypal. When it comes to ROIs and fees, this will vary depending on the respective cryptocurrency that you decide to mine – as well as the specific contract you select.

For example, if you decide to mine Ethereum, you will earn $1.65 per 100 KH/S. This comes at a cost of $0.0024 per 100 KH/S – which is charged every day. As you can see, the main drawback with HashShiny is that the platform does not clearly display how much you can make on your investment in terms of the ROI. Instead, all profitability figures are based on the hash rate.

What We Like:

7. BeMine – Variety of Cloud Mining Contracts With Clear Payout Information

BeMine is another provider to consider from our list of the best cloud mining sites. This platform offers a wide range of investment opportunities and contract specifications – so you are sure to find something that aligns with your goals. Moreover, and perhaps most importantly, we like that BeMine offers very clear information on how much you can earn.

This is made available via a very simple profitability calculator. To offer some context, let’s suppose that you decide to invest just over $1,500 into an Antminer T17+ cloud contract. In doing so, you will earn passive income of $172 per month or $2,098 annually.

Moreover, BeMine clearly displays the applicable fees for your chosen contract. Sticking with the aforementioned example, you would pay daily maintenance fees of $1.09. To pay for your chosen Bitcoin mining contract, you can deposit funds via cryptocurrency, Visa, or MasterCard.

What We Like:

8. TrustMining – Cryptocurrency Mining Site for Small Casual Investors 

TrustMining – which has been operational for three years, claims to be the best cryptocurrency mining site for casual investors. The platform does not require you to buy any expensive mining equipment and the minimum first-time investment is an affordable $250. You can choose from three contract specifications – each of which offers similar returns.

For example, should you invest $250 into a SHA-256 contract, this will yield $43.80 per month in passive income or $525 annually. Ethash contracts are slightly more profitable, with a $250 investment offering an ROI of $45 monthly or $550 per year. We like TrustMining for its multi-device support – which covers web browsers on your laptop, smartphone, or tablet.

This makes it a simple process to know exactly how much you are making from your cloud mining endeavors at the click of a button. Another reason why we like TrustMining is that it offers customer support via live chat 24 hours per day, 7 days per week. In terms of payouts, you will receive your share of mining rewards every 24 hours.

What We Like:

9. Genesis Mining – User-Friendly Mining Platform With Contracts That Often Sell Out

The final provider from our list of the best Bitcoin mining platforms is Genesis Mining. This mining site is so popular that oftentimes, it sells out its most profitable contracts. As such, you’ll need to be fast should your preferred mining contract become available. In terms of supported coins, Genesis Mining allows you to mine Bitcoin, Dash, Ethereum, Litecoin, Monero, and Zcash.

As such, this gives you plenty of opportunities to create a diversified basket of mining contracts. When it comes to yields, this will ultimately depend on your chosen coin and the respective contract term. Perhaps the main drawback with Genesis Mining is that its plans come with a high minimum investment requirement.

For example, should you wish to mine Ethereum, the starter plan requires a capital outlay of just under $500. Nonetheless, we do like the fact that Genesis Mining allows you to deposit funds with a debit or credit card, which is ideal for first-time investors. Finally, Genesis Mining claims to have more than 2 million clients on its books.

What We Like:

What is Bitcoin Mining?

You likely know that Bitcoin – and most other cryptocurrencies for that matter, are decentralized digital assets. And as such, transactions can be processed without the need for a centralized party – like a bank or financial intermediary. In order for Bitcoin to remain decentralized, it requires miners.

In its most basic form, miners are individuals or entities that connect specialist hardware devices to the blockchain network. These devices have the capacity to solve highly complex mathematical equations. If the miner in question is able to successfully solve an equation first, then they will receive the block reward.

• Each block reward is paid out every 10 minutes and it amounts to 6.25 BTC.
• This is down from the previous reward of 12.5 BTC, 25 BTC, and 50 BTC.
• Nonetheless, based on the market prices at the time of writing, a Bitcoin mining reward of 6.25 BTC amounts to approximately $250,000.

As lucrative as this might sound, Bitcoin mining is no longer profitable for the average Joe. This is because, in order to stand a chance of being the first person to solve the 10-minute block equation, you will need to be in possession of a specialist crypto mining machine. This is not only expensive but often very difficult to get hold of.

Moreover, as Bitcoin miners are connected to the blockchain 24 hours per day to improve their chances of being successful, this consumes a significant amount of energy. And therefore, unless you live in a country where energy costs are low, you will likely find it very difficult to generate consistent returns from mining – even if you have the required hardware.

This is why the best Bitcoin mining sites offer their services in cloud-form. That is to say, you can now mine Bitcoin and other digital currencies remotely without needing to buy specialist hardware or consume huge amounts of energy. Instead, it’s just a case of depositing funds into a mining site and choosing your contract. This subsequently enables you to earn passive income.

How Does Crypto Mining Work?

In the above section, we briefly explained the fundamentals of Bitcoin mining. Now, we’ll dig a little bit deeper so that you have a firm understanding of how this passive investment space works before committing any funds.

Traditional Bitcoin Mining

As noted above, you likely won’t be looking to engage with a traditional Bitcoin mining strategy due to the high costs involved.

Nonetheless, even if you are keen to explore cloud mining, it’s still important to have a firm grasp of what goes on behind the scenes. After all, in order to make money from a Bitcoin mining site – you need to risk your hard-earned capital.

• So, every 10 minutes, the Bitcoin network mines a new block.
• Within each block is a tranch of transactions that were executed within 10 minutes prior to the block being validated.
• When the block is validated, all of the transactions within the respective block are confirmed as valid and will subsequently be posted to the Bitcoin ledger.

Now, before a block can be confirmed, miners are required to validate the tranch of transactions.

• This is achieved when a highly complex equation is solved – which typically takes 10 minutes.
• Only one miner can be successful in solving a specific block – which is why only one reward of 6.25 BTC is distributed.

It goes without saying that for Bitcoin miners to make money in the traditional sense, the rewards that they receive must surpass the underlying electricity and maintenance costs.

Cloud Mining Bitcoin

All of the providers from our list of top Bitcoin mining sites offered a remote service that is facilitated via the cloud. This means that in Layman’s Terms – you are not required to buy any specialist hardware devices.

Moreover, other than connecting to the internet, you will not consume any electricity when engaging in cloud mining. Instead, the cloud mining site that you sign up with will have the required hardware devices set up in their own rigging farm.

And in turn, when you invest money into a cloud mining contract, you are essentially renting a percentage of available hashing power that the farm generates.

As a simplistic example, if you invest the equivalent of 1% into a Bitcoin mining platform and the respective rig makes a $10,000 profit in a single day, you would earn $100.

In most cases, your mining rewards will be paid to you every 24 hours. This enables you to reinvest the tokens back into another mining contract, which can facilitate compound growth.

Moreover, we should note that most Bitcoin mining companies require you to purchase a contract with a duration of at least one year. Some, however, do offer flexible terms, albeit, at less favorable yields.

Is Bitcoin Mining Profitable?

Traditional Bitcoin mining is no longer profitable for the average Joe. Crucially, this space is now dominated by a small number of large-scale Bitcoin mining pools – many of which are located in China.

With that said, it is possible to make a profit when you invest in a Bitcoin cloud mining site. In most cases, the provider will let you know the anticipated yield on your investment in percentage terms.

Some providers go one step further by letting you know how much you will make in dollars on a daily, weekly, and monthly basis.

• However, it is imperative to remember that your ability to make a profit from mining is largely dependent on the market value of digital currencies.
• For example, when you are shown the ROI at a Bitcoin mining site, this is based on you receiving your rewards in crypto tokens.
• This means that a 1 BTC investment at a yield of 10% would amount to an additional 0.10 BTC in mining rewards.
• Now, if the value of the respective digital currency drops by a considerable amount, your mining endeavors can actually result in a loss.

And for this reason, we would argue that there are much better ways to earn passive income from your cryptocurrency investments, which we cover in more detail later on in this guide.

Costs of Crypto Mining

When investing money at a Bitcoin mining site, there are many costs that are accumulated behind the scenes. This includes the cost of:

• Buying the many ASIC devices required to stand a chance of validating a block
• Huge electricity costs to keep the crypto mining rig operational 24/7
• Ongoing maintenance
• Internal costs related to facilitating accounts, deposits, and withdrawals

These costs will, of course, be passed on to you as a client of the website. The good news is that the best Bitcoin mining sites that we came across build these costs into the ROI of the respective contract.

As such, you know exactly how much you will make from your mining investment.

Another fee to bear in mind is the opportunity cost of having your digital currencies locked away in a mining contract. As noted earlier, you often need to sign up for a term of at least one year. During this period, you likely won’t be able to withdraw your tokens.

On June 3rd 2022 New York passed a bill to ban Bitcoin mining operations if they don’t use renewable energy sources. However it may be vetoed and other US states like Texas are very friendly towards Bitcoin miners.

How to Start Mining Bitcoin?

If you’re confident that cloud mining is right for you and wish to start earning passive income today – this section of our guide will get you set up with leading platform Shamining.

Step 1: Open Shamining Account

The first step is to visit the Shamining website (currently down) and click on the ‘Register’ button.

You will then be required to enter your first and last name, email address, cell phone number, and a chosen password.

Step 2: Deposit Funds

Next, you will be asked to make a deposit into your account. The minimum deposit at Shamining is $250, albeit, make sure that you add enough funds to cover the Bitcoin mining contract that you wish to invest in.

Take note, if you are planning to deposit funds with a debit or credit card as opposed to cryptocurrencies, then you will need to upload some ID.

Step 3: Choosing Bitcoin Mining Contract

Now that you have funds in your Shamining account, you will need to choose the contract that you wish to invest in.

If you’re unsure which contract is best for you, Shamining offers a handy calculator. Once you’ve selected a suitable contract, click on the ‘Buy’ button and confirm the investment.

Step 4: Earn Passive Income

As soon as you confirm the mining contract via your Shamining account, you will automatically start earning passive income. The Bitcoin tokens that you earn will be deposited into your account.

You are welcome to request a withdrawal at any given time. With that said, some investors will use their rewards to buy new contracts. This is a good option if you are looking to benefit from compound growth.

Is Mining the Best Way to Make Money with Crypto?

We briefly explained earlier that in the grand scheme of things, there are much better ways to earn passive income from cryptocurrencies when compared to Bitcoin mining.

• After all, when you invest via a cloud mining website, your ROI is largely dependent on the market value of the respective digital currency.
• If the market value drops, then you might be operating at a loss. Furthermore, and perhaps most importantly, the Bitcoin cloud mining industry is filled with scammers.
• In many cases, the mining website will just be a front to deceive you into depositing your cryptocurrencies. And, when you do, you will likely never see the tokens again.

This is why we much prefer crypto savings accounts offered by reputable platforms like Crypto.com, Aqru, and BlockFi. The aforementioned platforms have a great reputation in this space and enable you to earn interest on your cryptocurrency deposits. There are various yields and lock-up terms on offer – so most investor profiles should be catered for.

To give you an idea of what’s on offer, Aqru allows you to earn 7% per year on Bitcoin and Ethereum deposits in a regulated environment.

Moreover, Aqru crypto interest accounts do not come with any lock-up terms, so you can request a withdrawal whenever you see fit.

You then have Crypto.com, which offers an APY of up to 14.5%. The specific APY will depend on which token you wish to deposit and how long you are happy to keep the funds locked away. Crypto.com allows you to boost your APY by staking its native token – CRO.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Conclusion

Bitcoin mining is no longer profitable for the average Joe due to the extremely high costs associated with buying ASIC hardware and consuming huge amounts of energy.

With that said, cloud mining websites have opened up the doors to investors on a budget – not least because there is no requirement to buy any specialist hardware devices.

However, many cloud mining sites are nothing short of a scam, and even then – you might be operating at a loss if the value of the respective cryptocurrency drops.

This is why we much prefer crypto savings account providers like Aqru. This licensed platform offers APYs of 7% on Bitcoin and Ethereum and 12% on stablecoins – with no lock-up term in place.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

FAQs on Bitcoin Mining Sites