Customers Of Falling BTC Mining Rewards Offered Discounts

As a response to the falling rewards for Bitcoin mining to its clients, Genesis Mining has opted to offer a discount to its clients. This is one way of helping them to endure the current downspin in the market.

Having acknowledged the fact that its customers were not given the expected rewards, the company has opted to give them a special discount. Further to that, Genesis Mining has also offered a chance to advance their contracts of mining to the contract terms of Radiant with a special premium discount.

Over the past few days, Bitcoin has, once again, witnessed a serious decline in its prices. This has come with its share of disadvantages and losses to traders. For instance, the trend has greatly lowered the mining outputs of most of the users in this market. This, as a result, has made certain user contracts to mine way less than what is needed by the user fee that is charged on a daily basis. This has also pushed the traders into the grace period of sixty days, after which their open-ended contracts will automatically come to a close.

Details Concerning The Upgrade

As earlier indicated, Genesis Mining had a mining upgrade with Radiant, and the price per one TH/s has been reduced to $180 to $285. The time of operation has also been altered from the initial open-ended period to a period of five years. This will incur no termination of any kind.

Better still, the daily maintenance fee has dropped to $0.14 per TH/s per day. To be able to upgrade, the customers would have to log in to their accounts and hit on the button labeled “upgrade to Radiant”.

Once they have done that, they will be able to pick the type of contracts they want to upgrade and then add them to their cart. The pricing of Radiant was specifically designed to keep the hash power of the clients who are trading in some of the most complicated market conditions.

Genesis Mining’s Struggles

Genesis Mining began operating in 2014 and has established itself as one of the best hashpower hosting service providers in the market. It has locations in China and Bosnia and has also subsequently moved to Canada and Iceland due to the affordable electricity rates and the cold climate. But it has not been easy sailing for this company.

In March 2018, the company was served with a cease order asking them to stop operating in South Carolina. This was after the company was alleged to be selling unlicensed securities. Since the time Bitcoin dropped from its much-hyped $20,000 peak in the last month of 2017, the traders have been striving to remain above the water. This has been going on the midst of regulatory pressure and low prices that have continued to squeeze the market.

Signs Of Good Times Ahead

As one of the best hashpower hosting service providers, Genesis Mining would only be able to influence the factor of infrastructure that greatly contributes to the mining rewards system. This company strongly believes that the market will soon recover and wants its customers to continue mining.