Cloud Mining Experiments in 2024 to weed out the scams
LAST UPDATED: Sunday 17th March 2024
We are going to perform a cloud mining experiment in 2024. In 2023 we got scammed by cloud mining. We lost close to 0.02 BTC, which at the time was worth $600 USD. We did have a mostly complete draft post with all of the details. It was never actually posted live for some reason. It was we feel, invaluable information into what to look for in a scam.
In 2024, we will be continuing our cloud mining adventures, albeit with serious restrictions. This is namely the *free* way. There should be no reason to pay to have the ability to withdraw.
Our true intention of this experiment, is to find any potential gems whilst using different chains, and earn a little bit of cryptocurrency too.
Example 1: MiningBun.com
First up, is an interesting little mining operation that gives BNB as the reward.
We have provided the cloud mining system with an address that is not actively used, and in fact, generated only for this specific purpose.
The website is called, “miningbun.com“.
There is no referral link at this point, as this is in a testing and experimental stage. We will be testing the system until withdraw possibility, and then judging it accordingly.
We were supposed to receive $10 of BNB, but are yet to receive this. At this time, we are unsure if this is an automatic event, or one that we have to manually initiate from somewhere.
So we put our address in, it would only accept a BSC (Binance Smart Chain) network address, and not a proper BNB address. I (D1) personally found a little bit strange, however, I am optimistic, and still learning about contracts, and consider this an actual proper contract to be fulfilled and executed on the Binance Coin (BNB) once the contract has been fulfilled i.e. when I withdraw after the minimum of the contract (0.005 BNB, but then also include the fee of 0.00007 BNB) equal to 0.00507 BNB.
On the day this post was made, 1 BNB is equal to $322.89 USD. 0.005 BNB is around $1.61 USD.
In theory, I should be able to withdraw at around 50 days of starting, so we will see how it goes. This post will be updated as progress is made.
This was initially posted on 11 Feb.
Example 2: Block Hunter
Our next cloud mining experiment in 2024 to mention is one that does payouts in BTC.
The name of this service is known as Block Hunter. The website address is “blockhunter.eu“.
As a signup bonus, new users are given a free 900 GH/s hashing power.
There is a minimum required of 0.0001 BTC for the payout, with additional withdrawal fees of 0.00015 BTC.
According to the overview on the dashboard, it may take only a month until we can see if we are able to perform our withdrawal from this platform.
This was initially posted on 12 Feb.
Example 3: AutoHashMining
Another experiment we will look into is AutoHashMining. The website is “autohashmining.com“.
This platform allows mining and withdrawal in multiple different currencies, including Bitcoin BTC, Litecoin LTC, Ethereum ETH, Dash, Ripple, and more.
There are minimum withdrawal limits as stated on their FAQ. We are choosing this platform for LTC, the minimum will be $1.10 USD. Interestingly, there are no fees according to the same FAQ.
When signing up as a new user, we got 200 GH/s free mining which expires in 199 days, and we also got $0.02, which is available as an LTC equivalent in withdrawal.
It is important to note that although it states an amount of $2.00 as a purchased mining contract, we have not actually paid anything for this particular plan.
This was initially posted on 12 Feb.
Example 4: TrxDeepMiner
For this example, we are testing out TrxDeepMiner. The website is “TrxDeepMiner“.
Although they accept deposits and withdrawals in a number of cryptocurrencies, they only allow mining in Tron TRX.
We are testing this platform with Litecoin LTC.
When signing up as a new user we got 100 GH/s on the free mining plan which will expire in 199 days, and we were also credited with $0.01 in our account balance, which will be available as part of our Litecoin withdrawal.
It should be noted here that it has an amount of $1.00 spent. We have not input anything into this platform.
This was initially posted on 12 Feb.
Example 5: LegitDogeMining
For this next example of our cloud mining experiment in 2024 we will be sampling LegitDogeMining. The website is “LegitDogeMining“.
This platform mines Dogecoin, and pays out in a variety of cryptocurrencies. We will be utilising Doge payouts when they become available.
When signing up as a new user we got 100 DH/s on the free mining plan which will expire in 200 days, and we were also credited with $0.05 in our account balance, which will be available as part of our Dogecoin withdrawal.
It is important to note that although it states an amount of $1.00 as a purchased mining contract, we have not actually paid anything for this particular plan.
This platform claims no fees for deposits or withdrawals. There are minimum amounts associated with withdrawal starting at $2.00 for Dogecoin and Litecoin payments.
This was initially posted on 17 Feb.
Example 6: LitecoinPool
At the time of posting this particular cloudmining service, we had been signed up for a bit over 1.5 days. This is another free service that was found, and so we thought to give it a try. This testing platform is LitecoinPool. Their website is found at “LitecoinPool“.
With no direct ‘sign up’ button, we were a little confused on how to begin, but with a quick check of all the info, we found that all we needed to do to activate an account was to use our email or LTC wallet address and create a password after clicking on the ‘Start Mining’ button.
According to the FAQ, there is a minimum 0.1LTC withdrawal amount, but no information as to whether or not there are fees associated with the withdrawal too.
Another item of interest noted in the FAQ, is that all the investment plans run for 365 days. For the moment we will assume this also includes the free plans.
At the current free plan of 0.0008LTC per day, this is going to take 125 days of operational cloud miner.
0.1 / 0.0008 = 125.
This was initially posted on 17 March.
Example 7: MineThrive
We recently saw this one, and had to give the Free tier a try to see what it was all about. The website is “MineThrive“.
At the time of writing, they did have some promotional activities running. The limited offer, and the free bonus.
Our free power is already waiting, and we can invite more people to this to “higher your Bitcoin Mining Rate.”. **CRINGE**
Whilst we are not going to go into much detail with this one, there is still some screenshots to look at and remember.
Sadly, it looks like our initial perceptions are deemed true. For this particular free cloudmining experiment, according to the FAQ, “free” is not actually free.. In fact, it will cost at minimum 0.0004BTC at time of writing. That doesn’t include any of the poor souls you refer to this one.. Check out the first section, and then peruse over the other parts.
There will be no more updates to this particular experiment. We are calling it a SCAM.
This was initially posted on 24 March.
March 2024 Update:
As it has rolled into a fresh month, we thought about posting an update to each of the sites mentioned above..
We will do it in the same order as they were posted.
Example 1: MiningBun.com
Firstly, we will mention that we still haven’t received the $10BNB reward. Not off to a positive start for this one at all.
Next item worth mentioning, is the message that appeared at the top of our dashboard. It stated that “You have 1 free TH/s until the end of 2024-03-02”. As it is now towards the end of the day of the 2nd March, we logged in to the platform.
As we were logging in, we noticed an interesting item in the Latest Transactions – an apparent withdrawal of 0.00184BNB performed. The minimum is supposed to be 0.005BNB.
Sure enough, our free mining operation has come to a halt. 0.002BNB. Still, as there was that previous mentioned amount in the transactions list, we thought we would try anyway to withdraw..
..Nope..
As we never received the $10BNB, and the expired free miner, and the bogus transaction that was listed, we are considering MiningBun.com a SCAM.
Example 2: Block Hunter
We gave the blockhunter.eu site numerous chances to come back online, but it appears to be a SCAM.
Example 3: AutoHashMining
Not much to report on this one, except that the free miner still appears to be operational at this point.
Example 4: TrxDeepMiner
There is not much to report on TrxDeepMiner at this point, except that the free mining process is seemingly still operational.
Example 5: LegitDogeMining
This free mining platform appears to be properly functioning from what we can observe.
