Let’s face it. Cryptocurrency mining isn’t quite as profitable as it once was. The China ban, combined with the falling BTC prices, has caused the profitability of cryptocurrency mining to dwindle consistently over the past year.
As a result, many mining operations have started to turn off their machines as their revenues barely cover the cost of the electricity required to power the devices.
However, despite the falling profitability, a strong handful of cryptocurrency projects are still producing profits from mining. Some projects require you to mine alone, while others are cloud-based mining operations. Alternatively, some projects allow you to invest in NFTs that produce revenues from mining crypto.
Regardless of the strategy, here are five of the best projects and crypto mining sites still mining for profit.
The Top 5 Best Projects to Mine for Profits
- Copium Protocol – The best overall mining project for passive cryptocurrency mining
- StormGain – An all-in-one ecosystem that provides cloud mining services
- BitFufu – A cloud mining service provider partnered with Bitmain
- Ecos – An all-in-one crypto investment and mining platform
- CudoMiner – A mining software with over 100,000 users
A Closer Look at the Top 5 Best Projects to Mine for Profits
1. Copium Protocol
Copium Protocol is a passive cryptocurrency mining ecosystem that provides an effective and straightforward method to participate in cryptocurrency mining.
The project aims to revolutionize the entire mining industry by removing unnecessary technical jargon and providing a way to mine without investing in expensive hardware.
The entire protocol is a multi-pronged ecosystem that includes;
- Copium Mining
- Copium Coin
- Investor Pass NFTs
- Copium Staking
The Copium Protocol is centered around Copium Mining, a real-world cryptocurrency mining facility in Otago, New Zealand. This mining facility is highly unique as it is powered by a surplus supply of 100% clean, green, renewable Hydroelectricity generated in the foothills of New Zealand’s Southern Alps. This means Copium Mining does not receive any negative stigma associated with using non-renewable resources to mine cryptocurrency.
The initial launch phase for Copium Protocol will see the release of the Copium Protocol Investor Pass. This is a collection of 10,000 NFTs that will mint on the Ethereum network in early-mid October.
The Investor Pass NFTs will be sold at Dutch Auction via copiumprotocol.io, with a starting price of 3.5 ETH. However, the first 2000 users that register their interest early will receive a guaranteed mint spot at a lower, fixed rate of 3 ETH.
Holders of the Investor Pass NFTs are entitled to the following benefits:
- An exclusive airdrop of 10,000 Copium Coins.
- The ability to stake the Investor Pass on the platform in exchange for a daily allocation of 10 Copium Coins.
- The ability to stake Copium Coin at an exclusive interest rate only offered to Investor Pass holders.
- Automatic entry to monthly Copium giveaways.
After the Investor Pass NFTs have been sold, the revenue generated from the NFT sales will be used to upgrade the hardware and infrastructure at the Copium Mining facility. Copium Mining is highly respected in the New Zealand Cryptocurrency industry and they are able to purchase bulk quantities of the latest generation of cryptocurrency miners.
Once the facility has been upgraded, the daily revenue generated from cryptocurrency mining at Copium Mining will be used to purchase Copium Coin from the open market – providing daily demand for the asset.
Furthermore, any Copium Coin bought from mining revenue will be sent directly to a burn address to remove it from the supply. As a result, Copium Coin will become a deflationary asset that becomes more scarce over time.
Copium Coin is the ERC-20 token that powers the ecosystem and it will be released to the public simultaneously with the Investor Pass. First, however, there will be a presale for the coin, which will run for 60 days before the official launch to generate the first level of liquidity for the token. The presale will cost $0.10 per coin.
Following the successful launch of the Investor Pass and the Copium Coin, the team will implement the Copium Staking Platform.
The staking platform is a crucial pillar of the ecosystem, allowing Copium Coin holders to stake their assets for a high yield. Users can stake their assets for a range of locked and unlocked periods, which provide different returns. The longer the lockup period, the higher the interest rate generated.
It is important to note that Investor Pass holders receive exclusive rates on the Copium Staking Platform. The minimum Investor Pass holder interest rate is much higher than the maximum achievable public staking rate. Therefore, to maximize your returns in Copium Coin staking, users should purchase an Investor Pass NFT.
Overall, Copium Protocol provides an excellent strategy to mine cryptocurrency for profit passively without ever needing to invest in expensive mining hardware.
2. StormGain
StormGain is an all-in-one cryptocurrency app that allows users to buy and sell cryptocurrency with 0% commissions. It also allows users to earn crypto through mining on the platform.
Their mining section allows users to earn free Bitcoin daily without battery or CPU drainage. In addition, no mining equipment is required for users to take part.
StormGain is located in Tel Aviv and currently has over 5 million users in over 230 different countries. The platform won the Best Crypto Broker of 2021 by World Finance and UF.
Their mining concept is interesting because a user’s mining speed depends on reaching specific trading volumes on the exchange.
Users can start at 0.5x speed and earn a 30-day income of around $6.21 USDT. However, if they increase their trading volume on StormGain to $150,000 USDT, they can achieve a 1x mining speed and earn approximately $12.34 USDT per month.
Their highest mining speed is reserved for traders with a monthly trading volume of $75 million USDT. These high-volume traders can mine at a 530x rate and earn a 30-day income of $5,580 USDT.
The mining is carried out on the StormGain servers and does not require the user to install any specific software or own any mining hardware.
The interesting thing about StormGain is that mining occurs in 4-hour periods. After four hours, you will have to wait for the next period to start mining again. Users can withdraw their mining rewards once they have accumulated at least 10 USDT in Bitcoin through mining.
Alongside their mining section, StormGain also offers trading, trading signals, a wallet to store coins, a staking service, and a complete academy to learn about cryptocurrency.
3. BitFuFu
BitFuFu is a digital asset mining service and a world-leading cloud-mining service provider. In addition, the company is the only strategic partner of Bitmain, the world’s largest Bitcoin mining hardware manufacturer.
The project intends to offer cryptocurrency mining services transparently and make it as easy as possible for users.
BitFuFu offers cryptocurrency mining in the following categories;
- Cloud mining
- Miner hosting
- Miner sales
- Self-mining
- Institution Services
Their cloud mining service is their flagship product, allowing users to rent hashrate from the BitFuFu facility to mine directly.
The company owns numerous mining facilities in Canada, the United States, and Kazakhstan.
Users can rent 30Series mining hardware for between 120 and 360 days. The service charges a hash rate fee and a service fee, leaving the rest of the profits to the user.
Users can mine BTC and ETH through the cloud mining infrastructure.
The BitFuFu mining hosting service allows users to host their personal miners at the BitFuFu facility. However, users will have to pay a hosting fee of $0.075-0.085/kWh.
Furthermore, BitFuFu also operates a marketplace that allows users to come and buy hardware directly from them. As they are strategically partnered with Bitmain, they can offer the latest hardware at competitive wholesale prices.
Lastly, BitFuFu offers institutional services to allow institutions to start mining through their facility.
Users can actively monitor all mining services on the go through the BitFuFu mobile application on Android and iOS.
4. Ecos
Ecos is an all-in-one crypto mining investment platform. The platform includes a wallet, an exchange, and a cloud mining service.
Ecos is determined to make cloud mining as seamless as possible and has developed a system that allows its users to start mining cryptocurrency with just two clicks.
The cloud mining service is run through a large data center filled with S19j Pros, one of the top-rated Bitcoin mining hardware. Users can participate in cloud mining by renting these S19j Pros. The process is straightforward and doesn’t require users to know how to set the hardware up.
One of the great things about their hardware facility is that the electricity is provided by Hrazdan TPP, who partnered with Ecos to provide electricity at a preferential rate in a direct agreement.
Furthermore, their mining center is located in the Free Economic Zone of Armenia. This means the company does not have to pay income taxes, VAT, import and export, or property taxes. This enables Ecos to keep their prices low as they pass all their savings onto their customer base.
Once a mining contract is signed, the user will start mining cryptocurrency instantly. They will receive direct daily payments as their miner earns cryptocurrency for them. In addition, users can choose specific durations for their cloud mining that start from 24 months and reach as high as 50 months.
In addition to their mining services, Ecos offers a wallet and an exchange. Furthermore, they allow users to invest in custom-made indexes containing different coin sets. For example, their Elon Musk Index includes Bitcoin, Dogecoin, and Ethereum.
Lastly, Ecos provides an in-depth mobile application on Android and iOS platforms so users can track their daily mining activities on the go.
5. CudoMiner
CudoMiner describes itself as the future of cryptocurrency mining. They have over 100,000 users earning cryptocurrency using their software.
The platform offers cryptocurrency mining software and a cloud computing platform to allow users to mine cryptocurrency.
CudoMiner is a carbon-neutral company partnered with AMD, BlockVenture, and Hydro66.
Their smart cryptocurrency miner is an automated desktop application that mines cryptocurrency when your computer is idle. The software allows users to mine BTC, RVC, ETH, and XMR easily.
One of the best features of this software is its auto coin switching feature for maximum profitability. This feature automatically switches the algorithm, so your machine constantly mines the most profitable coin.
The software continually scans for the best mining options and automatically switches over to the best coins for you. The software also comes packed with features that provide users with advanced settings. For example, users can adjust the GPU sleep time, benchmark timeout, overclock settings, and GPU intensity.
Users are paid instantly and do not need to wait for the payout from the pool to claim their earnings.
The CudoMiner software allows users to get their mining hardware live within 60 seconds and provides up to 40% more revenue through automatic coin switching.
In addition to CudoMiner, the project also has elite crypto mining farm management software for enterprise-scale miners to manage their hardware.
Conclusion
Although cryptocurrency mining profits might have started to dwindle, a handful of projects are worth researching to see if they can still produce profits. Whether you are looking for cloud mining, hosted services, or a mining protocol coin – all of the projects on this list have the potential to provide profits.
In our opinion, your best bet for sustained profits is through Copium Protocol. The project has an intuitive ecosystem that ensures Copium Coin has a sustained demand through the mining revenue generated at the Copium Mining facility. Furthermore, the Investor Pass NFTs are still to be minted, meaning you aren’t too late to the party.
Source: https://bitcoinist.com/crypto-mining-sites-5-best-projects-to-mine-for-profits/