Michelle Legge
By Michelle LeggeHead of Crypto Tax Education
Updated Apr 26, 2024
This article has been fact checked and reviewed as per our editorial policy.

Best Bitcoin Cloud Mining Platforms 2024

Want to mine Bitcoin but don’t have the right gear? Bitcoin cloud mining is a popular solution, but there are plenty of disreputable sites out there. Learn how to avoid to bad ones and pic the best Bitcoin cloud mining platforms in 2024.

10 Best Bitcoin Cloud Mining Platforms

PlatformSupported coinsMinimum contract durationPayment methods
BinanceBitcoin90 daysDebit/credit, crypto
HashsmartBitcoin12 monthsDebit/credit, crypto
Hashing24Bitcoin12 monthsDebit/credit, crypto
ECOSBitcoin1 dayDebit/credit, crypto
NGS CryptoBitcoin30 daysDebit/credit, crypto
TEC CryptoBTC, ETC, LTC, DOGE, XRP, BCH and DASH1 dayDebit/credit, crypto
F2HashBitcoin30 daysDebit/credit, crypto
INC CryptoBTC and LTC1 dayCrypto
BeMineBitcoin1 dayCrypto
NiceHashBTC, ETC, XRP, BCH, LTC, ZEC, and moreMaximum of 10 daysDebit/credit, crypto

Binance Cloud Mining

Leading crypto exchange, Binance offers a Bitcoin cloud mining service. The platform focuses on short-term Bitcoin cloud mining, offering exclusive 90-day contracts. The process is streamlined, requiring only a Binance account, which you can set up in minutes. Renowned for its simplicity and daily payouts, Binance's Bitcoin cloud mining service provides an uncomplicated entry point into mining Bitcoin. 

While Binance excels in simplicity and reliability, there are some considerations regarding minimum requirements and output estimates, which are solely displayed in Bitcoin, potentially adding complexity to investment decisions. However, with daily payouts and low minimum contract requirements, Binance is a strong option for many investors.

Key features:

  • Coins supported: Bitcoin

  • Payout frequency: Daily

  • Payment methods: Debit/credit, crypto, P2P deposits

  • Minimum contract requirements: 1 TH and 90 days

Hashsmart

Since its founding in 2018, Hashmart has emerged as a prominent cloud mining operation registered in Cyprus, specializing in Bitcoin cloud mining. Offering both 12-month contracts starting from around $26, making it accessible for various investors, and open-ended options, Hashmart provides flexibility tailored to investors' preferences. 

Maintenance fees are integrated into the contract value, ensuring transparency and eliminating surprises. However, there is a lack of transparency regarding the specific location of mining farms, described only as in the 'Asian region,' potentially raising questions about operational transparency.

Key features:

  • Coins supported: Bitcoin

  • Payout frequency: Daily

  • Payment methods: Debit/credit or crypto

  • Minimum contract requirements: Approx $26 and 12 months

Hashing24

Hashing24 is a popular cloud mining platform, specializing exclusively in Bitcoin mining. Boasting active mining farms across Canada, Georgia, Norway, and Iceland, Hashing24 offers user-friendly features and displays all contract terms in US dollars or euros, simplifying the assessment of potential returns.

Established as a trusted cloud mining provider with over 10 years of experience, Hashing24 ensures reliability and trustworthiness. While it provides global reach and diversification of operational locations with active mining farms in four different countries, it exclusively focuses on Bitcoin mining, omitting support for altcoin mining, which may limit options for diversification.

However, users can get started with a minimum outlay of around $50, and discounts are offered for larger contracts. Additionally, Hashing24 offers daily payouts with the flexibility to withdraw immediately, ensuring convenient access to earned rewards.

Key features:

  • Coins supported: Bitcoin

  • Payout frequency: Daily

  • Payment methods: Debit/card or cryptocurrencies

  • Minimum contract requirements: Approx $50 and 12 months.

ECOS

​​Founded in 2017, ECOS has established itself as a trailblazer in the cloud mining industry, being the first provider to operate with legal status. With over 250,000 users, ECOS offers a reliable and legitimate platform for mining various cryptocurrencies without the need for specialized equipment.

Newcomers are welcomed with an array of mining contracts, investment tools, and a streamlined withdrawal process. The platform provides real-time monitoring for enhanced control, cost-effective mining solutions, auto reinvestment of mined coins to optimize returns, and 24/7 customer service for ongoing support.

Key features:

  • Supported coins: Bitcoin

  • Payout Frequency: Daily

  • Payment methods: Bitcoin, Visa

  • Minimum contract requirements: $150 and 1TH/day

NGS Crypto

NGS Crypto, an Australian-based company founded in 2018, stands out in the cryptocurrency cloud mining space by offering fixed-rate annual returns ranging from 6% to 16%.

Praised globally for its transparent practices, NGS Crypto provides investors with a variety of mining packages. Notably, upon the completion of the subscription term, the company returns 100% of members’ initial investments without any management fees. Specializing in digital asset mining services on the blockchain network, NGS Crypto ensures quick and daily payouts to its members, contributing to its reputation as a secure and lucrative option.

NGS Crypto distinguishes itself by offering better opportunities and good returns compared to competitors while maintaining transparent and secure daily payouts. However, some investors perceive the regulatory framework as rigid rather than flexible. Nonetheless, NGS Crypto remains a secure and lucrative option for those seeking reliable returns and portfolio diversification through crypto-to-crypto trading.

Key features:

  • Supported coins: Bitcoin

  • Payout Frequency: Daily

  • Payment methods: Bitcoin, Visa

  • Minimum contract requirements: $5 and 30 days 

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TEC Crypto

TEC Crypto distinguishes itself with over five years of experience providing efficient and secure services. This platform not only offers traditional cloud mining but also sets itself apart by providing free cloud mining features to users, making it one of the best free Bitcoin cloud mining sites without investment.

What distinguishes TEC Crypto is its commitment to sustainability, employing enhanced ASUC chip designs to mitigate environmental effects. With a focus on reduced power consumption and cutting-edge mining technology, TEC Crypto offers a user-friendly experience with a strong emphasis on security and privacy. However, contracts are frequently sold out, requiring waiting for new product availability. Nonetheless, users benefit from a user-friendly interface supporting multiple tokens and expert customer service for user assistance.

Key features:

  • Supported coins: BTC, ETC, LTC, DOGE, XRP, BCH and DASH

  • Payout Frequency: Daily

  • Payment methods: Credit/debit or crypto

  • Minimum contract requirements: $0 and 1 day

F2Hash

Launched in 2021, F2Hash has emerged as a notable player in Bitcoin cloud mining services, offering tailored plans for both large and small-scale investors. With diverse options like the Enterprise Flash Plan, Pro Flash Plan, and the entry-level Explorer Plan, F2Hash aims to cater to all.

While it claims to offer high cloud mining yields on larger investments, investors should exercise caution, especially considering its recent inception and the possibility that some of its estimated yields may appear on the high side. Entry-level plans start from just $5, making them accessible for investors with various budget sizes, and payouts are processed daily, ensuring regular access to earned rewards.

However, as F2Hash was launched as recently as 2021, it may have a limited track record and experience in the industry. Additionally, the website is very basic, potentially lacking in-depth information and features compared to more established platforms.

Key features:

  • Supported coins: Bitcoin

  • Payout Frequency: Daily

  • Payment methods: Bitcoin, Visa

  • Minimum contract requirements: $5 and 30 days 

INC Crypto

INC Crypto is a prominent player in the cloud mining market, operating five mining farms with a vast user base of more than 320,000 users spanning over 150 nations and regions. For new users, INC Crypto offers a $50 sign-up bonus upon registration, providing users with an entry point into free cloud mining for Bitcoin.

This platform distinguishes itself by conducting cloud mining operations utilizing renewable energy sources such as solar and wind power. This eco-friendly approach not only reduces mining costs but also integrates surplus energy back into the grid, showcasing a commitment to sustainability. Users benefit from substantial mining power without the need to invest in expensive equipment, making it accessible with just a computer or smartphone. However, it doesn’t accept fiat deposits for purchasing mining contracts.

Key features:

  • Supported coins: Bitcoin and Litecoin

  • Payout Frequency: Daily

  • Payment methods: Crypto

  • Minimum contract requirements: $50 and 1 day

BeMine

BeMine is a popular Bitcoin cloud mining platform that prioritizes a user-friendly experience. Offering a unique approach, BeMine merges individual farms with mining hotels, creating a seamless and accessible environment for miners. This innovative platform also opens up partnership opportunities for those looking to engage in the mining ecosystem.

Key features:

  • Supported coins: Bitcoin

  • Payout Frequency: Daily

  • Payment methods: Crypto

  • Minimum contract requirements: Approx. $75 and 1 day

NiceHash

We’ll start with the obvious - NiceHash isn’t a cloud mining platform. Instead, it’s a hash power marketplace.

NiceHash offers a unique approach to purchasing hash power, introducing the concept of the sharing economy, which differs significantly from traditional cloud mining contracts. While regular cloud mining involves buying hash power from companies that own the mining hardware, NiceHash allows users to buy hash power directly from other individuals who connect their mining hardware to the platform. This decentralized model means that NiceHash does not own any mining hardware and cannot manipulate hashing speed prices.

Key features:

  • Supported coins: BTC, ETC, XRP, BCH, LTC, ZEC, and more

  • Payout Frequency: Daily

  • Payment methods: Debit/credit or crypto

  • Minimum contract requirements: Market rates for hash power vary on demand, contracts are up to a maximum 10 days

What is cloud mining?

Cloud mining allows individuals to engage in cryptocurrency mining, like Bitcoin, without the need to possess or manage mining hardware. Instead, users rent crypto mining capacities from companies that own and operate the hardware. Rewards from mining activities are shared between users and the company, eliminating the need for setting up and maintaining physical hardware, acquiring high-speed internet, and managing electricity.

How does cloud mining work?

Cloud mining operates through pooled mining, where users acquire "hash power" from specialized remote server facilities. In return, users receive payouts based on their chosen hashing power, enabling participation in mining without the need for personal computer setups.

Benefits of cloud mining

Cloud mining eliminates the financial burden of purchasing and maintaining expensive equipment, as these costs are borne by the owner. By renting hash power, users gain access to a portion of overall returns from the mining farm without incurring direct equipment or energy expenses, thus broadening participation in mining.

Risks of cloud mining

Cryptocurrency's high value has attracted scams, leading to reports of fraudulent activities. Diminishing returns may occur due to increased mining difficulty and competition from more miners, potentially centralizing cryptocurrencies contrary to their decentralized nature.

How to avoid cloud mining scams

Given the prevalence of scams in cloud mining, thorough research is essential to verify a company's legitimacy. Look for transparent mining processes and fair pricing structures, and exercise caution with companies making guaranteed returns or using aggressive marketing tactics.

Read next: How are crypto mining rewards taxed?

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