Users who are interested in Bitcoin cloud mining may have taken notice of the BiteMiner website already. This platform looks very similar to what HashOcean has been offering, as they provide users with a free 15 kh/s of mining power when signing up. Moreover, there is zero evidence of them owning the mining power they claim to have.
Let’s See How Long BiteMiner Will Run
In the interest of full disclosure, I have signed up for a BiteMiner account and invested 0.1 Bitcoin in this company. This is done to document properly how this company works and to determine how long they will continue to pay. For the payment I have sent to the company, I will be able to buy 200 kh/s of Scrypt mining power.
Now that we have those details out of the way let’s take a look at what this cloud mining company claims to offer. One of the interesting things to note is how the company “guarantees” to fully refund users if the service is not to their liking. It remains to be seen whether or not this will be the case, but we will see.
Buying hashpower from the BiteMiner platform requires users to deposit funds into a wallet controlled by this company first. Deposits will require the full six confirmation before being credited to the account as well. Users can determine if they want automatic payments, or let the money accumulate to further invest in mining hashpower. Nothing out of the ordinary here so far.
As one would come to expect from cloud mining platforms, there is a referral program. This draws more similarities between BiteMiner and HashOcean, as affiliates will earn 5% from their affiliates’ hashpower. Have no fear, as I have not included any referral links in this article. It is not my intention to make people lose their money; I’m just here to inform.
According to the BiteMiner FAQ, their data centers are located in San Francisco and Singapore. That is all of the information you will get as there are no pictures or videos to back up these claims. Once again, there is also no company information on the website, and the WHOIS records are not yielding any result either. The domain was updated a week ago, which is probably when this company launched its services to the public.
It looks like BiteMiner is the successor of HashOcean in every way possible. I very much doubt I will see my money back anytime soon, but you never know if they might surprise you. Everyone who reads this article should stay away from BiteMiner, though, as they will end up taking your money sooner or later.
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