Today I started my first mining contract with Genesis Mining.
The contract is a 30 USD outlay for 0.2 TH/s BTC mining and has a maintenance feed of 0.056 USD/day.
The contract has no fixed maturity but will terminate if it is no longer profitable.
I have taken the current Bitcoin difficulty from https://bitcoinwisdom.com/bitcoin/difficulty
and I escalate the difficulty by 5% per month.
The full analysis is given below. I estimate that the contract will break even in 13 months.
And only earning about 3 USD before maintenance fees make the contract unprofitable.
However, even this small profit is at risk
Should the the difficulty escalate at greater than 5%, the contract may well never be profitable.
Let's see what happens but on the face of it I would not recommend this contract.
